The original vision of Bitcoin, as outlined in Satoshi Nakamoto’s white paper, was to create a “peer-to-peer electronic cash system.” However, Michael Saylor, the executive chairman of Strategy and a prominent advocate for Bitcoin, appears to have a markedly different interpretation regarding its intended use.
During his keynote address at the Bitcoin MENA conference, Saylor articulated what many interpreted as concepts for establishing a “Bitcoin central bank.” His company has been actively acquiring Bitcoin over the past five years by implementing a treasury strategy focused on BTC.
Saifedean Ammous, an economist recognized in Bitcoin communities for authoring The Bitcoin Standard, was also present at the Abu Dhabi event. It is known that Ammous and Saylor frequently engage in discussions; notably, Saylor contributed the foreword to Ammous’ well-known book.
In an appearance on Cointelegraph’s Chain Reaction show, Ammous remarked that Saylor does not perceive Bitcoin through the same financial lens as other advocates do.
Related:Saylor proposes banking systems backed by Bitcoin to nations
Source:Gareth Jenkinson
Ammous stated clearly that he believes “Saylor doesn’t regard Bitcoin as money.” He elaborated further by saying that “He perceives it more like an asset. One analogy he often uses is comparing it to crude oil—considered a tangible asset.”
“Just like Standard Oil transformed crude oil into refined products such as kerosene or gasoline,” Ammous explained. “Saylor envisions Strategy refining raw Bitcoins into various types of financial assets accessible to people.”
Saylor has leveraged existing corporate finance structures enabling investors exposure to BTC.
The Class A Common Stock (MSTR) offered by his company allows investors ownership shares in Strategy itself—a leveraged investment reflecting fluctuations in BTC prices since accumulating it remains their core strategy.
Additonally ,the firm has secured billions via convertible senior notes—debt instruments convertible into equity later—to enhance their bitcoin reserves. Recently introduced were several classes of perpetual preferred stock (STRK, STRF, STRD ,STRC) aimed at institutional investors.
As reported on December 15th ,Strategy had amassed 671268 Bitcoins thus far .
The Case for Viewing Bitcoin as Money Remains Strong
Swhile sSlyor provides insights about why he considers bitcoin primarily hard assets capable of underpinning diverse financial products ,Ammouse argues this approach doesn’t change bitcoin’s inherent monetary characteristics .
“I understand where he’s coming from,” said Saifedean .“Ultimately though it’s more theoretical than practical.”
“In my view,Bitcoin itself represents true currency;it’s essentially its own asset.I believe individuals should focus on holding bitcoins directly.In time I think this will lead people towards accumulation.As long fiat currencies persist there will always be opportunities arising around them” .
Related :Hard money versus privacy? Saifedean questions crypto’s emphasis on privacy initiatives
According To Saifedean global monetary supply expands annually between seven percent and fifteen percent incentivizing debt utilization across economies worldwide.
“There exists vast segments accustomed towards incurring debts for various reasons.This trend will likely intensify with increased adoption levels seen within cryptocurrencies such us btc ”said saifedean.
What does this imply? Essentially businesses & individuals must acquire bitcoins acting effectively pristine capital if they wish access affordable loans.
Ultimately all these developments hinge upon purchasing bitcoins first leading inevitably larger numbers embracing btc resulting higher cash balances held therein thereby transitioning toward becoming actual currencies themselves”
Ammouse appeared recently during Chain Reaction following Africa’s announcement regarding his advisory role within ABC corporation.The president Stafford Masie highlighted how crucial widespread retail acceptance along with unique circular economies found throughout South Africa motivated him greatly taking up position advising them moving forward”.
: Related : Why popular narratives surrounding btc diverge from factual data analysis – James Check discusses predictions until year 2026”.