Saylor: Bitcoin’s Core Breakthrough is Digital Energy Binding

Saylor's framing continues to position Bitcoin as a monetary asset rather than a payments network, which matters because that narrative underpins how corporate treasuries and institutional allocators justify exposure. It also sharpens the divide with chains pitched on throughput or yield, where value accrues differently. The open question is whether this store-of-value story keeps attracting balance-sheet demand independent of price cycles, or whether it remains a talking point that only resonates in bull markets.