Michael Saylor, chairman of Strategy (NASDAQ: MSTR), has published a new essay with Robert Breedlove titled “What Is Money?”, arguing that money is a technology for storing “economic energy” and that Bitcoin is the strongest mechanism for conserving that value across time and distance.
Saylor writes that good money should allow people to store the value of their labor and move it forward in time and across distance without suffering “monetary entropy.” He says gold earns points for scarcity and durability, but is heavy, costly to move, secure and audit, and depends on custodians once inside the financial system. Government-issued money, by contrast, has portability but leaves supply and rules in the hands of central banks and politicians.
In the essay, Bitcoin is described as digital monetary energy: it has no physical mass, no central issuer, and a fixed supply of 21 million coins. Saylor emphasizes that Bitcoin combines computers, digital networks and cryptography to create “the first digitally designed monetary network in human history.” He argues that proof-of-work consumes real energy in exchange for ledger security, connecting Bitcoin to the physical world, and that miners, energy companies and investors form a common defense system around that structure.
Saylor also pushed back against Elon Musk’s prediction that artificial intelligence will make goods abundant and eventually render money irrelevant through universal high income. He said people will always chase scarce, status-conferring goods because “we’re status-oriented animals.”
Strategy currently holds 840,447 BTC, the largest disclosed corporate stack. The company has been a net seller of Bitcoin in recent months, offloading 1,690 BTC for about $108.6 million in early August to buy back its STRC preferred shares, according to earlier reporting. CEO Phong Le has said Strategy expects to resume buying before year-end.
