Saylor Argues Bitcoin is a Technological Upgrade to Money

Michael Saylor, Executive Chairman of Strategy Inc., has reiterated his argument that Bitcoin is an engineering solution for storing and transferring economic value. In a recent essay, he compared Bitcoin to gold and fiat currency, highlighting its potential as a long-term monetary foundation.

Saylor argues that Bitcoin's scarcity and digital transferability are key characteristics that reduce 'monetary entropy.' He emphasizes the importance of proof-of-work in linking Bitcoin's digital ledger to computational work and electricity. This, he claims, gives Bitcoin a security model without a central gatekeeper.

The company's balance sheet shows that Strategy Inc. holds 840,447 BTC as of August 10, with an aggregate acquisition cost of about $63.36 billion and an average purchase price of $75,385 per bitcoin. Saylor has also begun selling portions of its Bitcoin position as part of an active capital-management program.