Bitcoin proponents remain divided on Michael Saylor’s revised thesis regarding BTC, which raises questions about his stance on the cryptocurrency’s purpose.

Saylor, who leads Strategy and has been aggressively acquiring Bitcoin over the past five years, unveiled what some are calling a vision for a “Bitcoin central bank” during his keynote at Bitcoin MENA.

Economist Saifedean Ammous, known for his book The Bitcoin Standard, attended the Abu Dhabi conference and has frequent discussions with Saylor. Ammous has noted that Saylor’s interpretation of Bitcoin differs from that of other supporters.
Ammous stated:

“I don’t think he sees Bitcoin as money. He’s been very clear about that. He sees Bitcoin more as an asset.”

Saylor employs existing corporate financial strategies that allow for investor exposure to Bitcoin. For instance, shares in the company’s Class A Common Stock (MSTR) provide a leveraged bet on Bitcoin’s price, as the company primarily aims to accumulate BTC.

Additionally, the company has raised billions through convertible senior notes and recently released classes of perpetual preferred stock to institutional investors. As of December 15, Strategy has amassed 671,268 Bitcoin.

Bitcoin’s Monetary Status

While Saylor clarifies his view of Bitcoin as a hard asset that could underpin various financial instruments, Ammous argues that this framework does not change Bitcoin’s essential monetary characteristics.
He asserts:

“In theory, I think of Bitcoin itself as the money. I think of it as being the asset itself. And I think people just need to hold Bitcoin.”
Ammous emphasized that as Bitcoin’s significance escalates, it will inevitably become a form of money itself for more individuals and businesses.

Ammous will also be advising the Africa Bitcoin Corporation (ABC) on adopting Bitcoin within retail operations, as ABC’s president Stafford Masie noted the importance of Bitcoin’s adoption in unique circular economies in South Africa.