Bitcoin Advocates Question Saylor’s View of BTC as Hard Asset Rather Than Money
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Michael Saylor’s updated Bitcoin thesis portrays BTC as a hard asset like crude oil, not primarily as electronic cash, sparking debate among advocates. MicroStrategy’s strategy involves refining Bitcoin into financial products via stocks and notes, holding 671,268 BTC as of December 15, 2025. Michael Saylor views Bitcoin as a foundational asset for financial innovation, similar to crude oil ready for refinement into usable products. Saylor’s approach emphasizes Bitcoin’s role in corporate treasury strategies, enabling leveraged exposure through shares and debt instruments. MicroStrategy holds 671,268 Bitcoin, acquired through aggressive buying over nearly five years, including billions raised via convertible notes and preferred stock. Michael Saylor’s Bitcoin thesis redefines BTC as a hard asset, not just money, fueling advocate divides. Explore how MicroStrategy refines it into financial tools. Stay ahead—subscribe for crypto insights today! (152 characters) What is Michael Saylor’s View on Bitcoin? Michael Saylor, executive chairman of MicroStrategy, views Bitcoin primarily as a hard asset rather than a peer-to-peer electronic cash system as originally envisioned by Satoshi Nakamoto. In his keynote at the Bitcoin MENA conference in Abu Dhabi, Saylor outlined plans resembling a “Bitcoin central bank,” where MicroStrategy refines “crude Bitcoin” into various financial products. This perspective positions Bitcoin as a foundational resource, akin to crude oil, enabling the creation of accessible investment vehicles like stocks and bonds backed by BTC holdings. Source: Gareth Jenkinson This thesis has divided Bitcoin advocates, with some questioning whether it aligns with Bitcoin’s monetary roots. Saylor’s company has amassed a substantial BTC treasury, using it to drive financial innovation without altering Bitcoin’s underlying properties. Why Does Saylor See Bitcoin as a Hard Asset? Michael Saylor’s analogy of Bitcoin to crude oil underscores its scarcity and durability, making it an ideal base for financial engineering. Economist Saifedean Ammous, author of The Bitcoin Standard, explained on…
Filed under: News - @ December 19, 2025 11:24 pm