Michael Sayer defends Bitcoin after VC Jason Calacanis declares it dead

defends Bitcoin — MicroStrategy executive chairman Michael Saylor has publicly defended Bitcoin after venture capitalist Jason Calacanis published a lengthy critique declaring the cryptocurrency obsolete.

In a social media post, Calacanis argued that Bitcoin is no longer capturing the public imagination, comparing it to a CD in the age of streaming services. He stated the asset is not ideal for transactions or smart contracts, has a poor user experience, and that its advocates have gone from “pirates to suits in orange ties.”

Saylor, whose company holds over 226,000 BTC, responded directly to Calacanis’s post, stating “The orange tie stays.” He framed Bitcoin as the premier tool for “preserving wealth across generations,” contrasting it with what he described as the “speculative casino” of other crypto assets.

The public exchange highlights the ongoing philosophical divide in digital asset markets between Bitcoin maximalists and critics who believe its technological limitations will hinder mass adoption. Saylor’s unwavering public defense is consistent with MicroStrategy’s corporate strategy, which has made it the world’s largest publicly traded corporate holder of Bitcoin.