Bitcoin is digital energy, Michael Saylor says

Michael Saylor renewed his case for Bitcoin on Aug. 23, describing the asset as a mechanism for converting economic value into a digital form that individuals, companies and governments can control. Summary Michael Saylor described Bitcoin as digital economic energy that entities can securely control and preserve. Strategy reported holding 840,447 Bitcoin, representing roughly 4% of Bitcoin’s fixed 21-million maximum supply worldwide. Strategy’s preferred shares are conventional securities, not blockchain tokens collateralized directly by specific Bitcoin holdings. At $77,175 Bitcoin prices, Strategy’s holdings exceeded aggregate acquisition cost by approximately $1.5 billion on Sunday. Strategy held $4.80B cash reserve after raising $333.7M through common share sales last week alone. “Bitcoin represents the breakthrough of converting economic energy into digital form and securely binding it to a person, family, company, machine, or state,” Saylor wrote on X. “Digital energy” is Saylor’s metaphor for transferable and durable value. It is not an accounting, legal or technical classification. His statement also expresses an investment thesis rather than establishing Bitcoin’s definit...