"It's not a currency, it's capital," said Saylor about halfway through the episode. "You just have to come to grips with it - it is not digital currency. It is not cryptocurrency. It is digital capital. It is crypto capital." This statement brings to light his central argument, attempting to reframe bitcoin away from its commonly understood role as a currency and towards something that serves a different purpose in financial discussions.
"To deny bitcoin as a currency is to deny a large part of its value proposition. Bitcoin's roles as a Store of Value (SoV) and a Medium of Exchange (MoE) are inextricably linked," emphasizes a counterpoint that highlights how bitcoin serves dual purposes. This perspective challenges Saylor's claim by insisting that a significant portion of bitcoin's utility lies in its ability to function as both a currency and an investment.
"There are a lot of maxis who are like 'No, we want it to be a currency. We want to be able to pay for coffee with our bitcoin," he said. "It's like 'Pay me in gold. Pay me in a building. Pay me with a slice of your profit.'" This comparison illustrates Saylor's dismissal of bitcoin's practical use as a medium of exchange, suggesting that the desire to use bitcoin like traditional currencies is misguided.
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