Michael Saylor, the chairman of Strategy and the head of the largest public holder of Bitcoin, published an extensive essay on the social network X comparing the value of money, gold, and the first cryptocurrency. According to him, gold has significant advantages as a means of preserving value due to its rarity and durability. However, it is difficult to own this precious metal physically, and its transportation is very expensive. Gold requires substantial costs for organizing secure storage and conducting regular audits. State fiat currencies do not have such problems with portability, but their money supply is fully controlled by the authorities, who can print new money in unlimited quantities. Saylor listed a number of risks associated with traditional currencies: citizens’ accounts can be frozen, transfers can be blocked, and purchasing power can steadily decline due to inflation.

Saylor called Bitcoin the first digital monetary network, a unique asset without physical mass and without a central issuer. The pre‑known maximum supply of twenty‑one million coins is regulated exclusively by an open protocol, not by political decisions made by officials. The businessman separately mentioned the Proof-of-Work consensus mechanism, on the basis of which the network of the first cryptocurrency operates. The entrepreneur stressed that rewriting the transaction registry is too expensive, which forces all network participants to compete according to the same established rules. Attackers are not able to influence, bribe, or coerce anyone to change the history of the network. In his essay, Sailor highlighted the advantages of cryptocurrencies over gold and the dollar, stating that bitcoin is more than just software. This is a complex adaptive network consisting of miners, nodes, investors, engineers, exchanges, energy producers, companies, and ordinary users.

According to the BitcoinTreasuries service, Strategy currently has 840,447 bitcoins at its disposal. However, recently the organization has been increasingly selling its coins to address corporate tasks. In early August, the company disposed of 1,690 bitcoins, receiving 108.6 million dollars for them. These funds are planned by Strategy to be spent on repurchasing its own STRC preferred shares.

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The material is prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.