Saylor Argues Bitcoin is 'Engineering Solution' to Money Problem

Michael Saylor has written an essay titled 'What is Money?' where he argues that Bitcoin (BTC) is a better form of money than gold and fiat currency. According to Saylor, money is an economic value stored as a result of people's labor, time, and intelligence. He claims that good money should maintain its value over time and be able to travel across borders.

Saylor contrasts fiat money with gold, stating that while gold is durable and difficult to create artificially, it is challenging to move and store due to its physical characteristics. On the other hand, digital payments make fiat money easier to transfer, but governments and central banks have control over monetary policy, allowing them to freeze accounts or lower purchasing power through inflation.

Saylor argues that Bitcoin combines the strengths of gold and fiat while reducing their weaknesses. It is digital, making it easier to store and transfer than gold, while its supply is governed by a public protocol rather than a government or central bank. Saylor describes Bitcoin as 'digital monetary energy' and believes it is an engineering solution to the problem of money.