Michael Saylor, Chairman of the Board of Strategy (NASDAQ: MSTR), published a new essay on X, outlining his bold views on money, Bitcoin, and the future of the economy.
He argues that money is essentially "economic energy," and that Bitcoin is the best technology for storing this energy.
Can Money Be Called Economic Energy?
In the essay titled "What is Money?", written by Strategy Chairman Michael Saylor and Robert Breedlove, money is defined as a technology that allows people to preserve the value of their labor, move it through time, and send it over distances.
Saylor refers to this value as "economic energy," and in his essay, he poses a single question: how effectively does any monetary system preserve it?
He explains that "good money" should allow you to preserve the value of your work, advance it forward in time, and send it over long distances without experiencing "monetary entropy," i.e., loss of value.
Saylor wrote that gold, as a store of value, deserves praise for its scarcity and durability, but it is also heavy, expensive to transport, costly to store and audit, and dependent on custodians once within the financial system, making it mechanically flawed.
Government-issued money does not have the portability issue inherent to gold, but it transfers control over supply and rules to governments and central banks.
The essay describes Bitcoin as digital monetary energy. It has no physical mass, no central issuer, and its supply is fixed at 21 million coins.
What Does Elon Musk Think About Money?
Prior to Saylor's essay being published, there were discussions about how an AI-driven economy impacts money.
Elon Musk predicted that AI will make goods abundant and ultimately render money irrelevant through what he calls universal high income.
In an interview with Steven Bartlett for the "Diary of a CEO" project, published earlier this month, Saylor refuted this view, telling Bartlett that people will always seek scarce, status-conferring goods because "we are status-oriented animals."
Currently, Strategy holds 840,447 $BTC, which is the largest disclosed corporate portfolio. In recent months, the company has actively sold $BTC, selling 1,690 Bitcoin in early August for approximately $108.6 million to repurchase its STRC preferred shares, as Cryptopolitanreported.
The company's CEO, Phong Le, stated that Strategy expects to resume purchases by the end of the year.
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