Part 2/14:
Saylor begins by emphasizing the foundational concept that drove early crypto innovators: Bitcoin as a digital commodity—an asset without an issuer, secured peer-to-peer, and operating without government or corporate intermediaries. This was the dream of Satoshi Nakamoto—to create a digital cash system that exists independently, enabling owners to transfer value permissionlessly.
This concept sparked massive enthusiasm, ultimately leading to Bitcoin’s rise as the first globally accepted digital scarcity—an asset with verifiable limited supply, approximating 21 million bitcoins. Unlike other commodities like gold or timber, which are not inherently scarce, Bitcoin’s monetary policy ensured digital scarcity, making it more than just a commodity but a form of digital capital.