Michael Saylor’s Bitcoin thesis: Money or commodity?

Michael Saylor, executive chairman of MicroStrategy, presented a thesis at Bitcoin MENA suggesting Bitcoin functions more like a hard asset, such as crude oil, rather than traditional money. Saylor's company actively uses corporate finance mechanisms like stock offerings and convertible notes to accumulate BTC and then refines this 'crude Bitcoin' into various financial products for investors. Economist Saifedean Ammous, who regularly converses with Saylor, acknowledged this view but maintained that Bitcoin itself is the money, arguing that Saylor's financial engineering on top of Bitcoin will ultimately drive more adoption and increase Bitcoin cash balances, solidifying its role as the ultimate monetary base.

(Source：Cointelegraph)