Michael Saylor | The Bitcoin Treasury Debate Gets Heated

Bitcoin serves as a foundational digital capital asset, with its long-term commercialization and institutionalization progressing steadily despite short-term price fluctuations. Michael Saylor argues that focusing on 90-day price action is a fundamental error, as the asset requires a multi-year time horizon for true adoption. Key milestones in 2025, including fair value accounting, regulatory support from the U.S. administration, and increased banking integration, demonstrate the network's maturing infrastructure. Corporations adopting Bitcoin as a treasury asset benefit from improved financial stability, regardless of their initial operating performance. Drawing parallels to the 50-year adoption curve of nuclear energy, the conversation emphasizes that transformative technologies face initial skepticism before reaching mass acceptance. Ultimately, Bitcoin functions as the base layer for a new global financial system, enabling digital credit and money to evolve beyond traditional banking constraints.