The largest institutional holder of Bitcoin recently shared a groundbreaking perspective at a forum in Abu Dhabi, directly overturning many people's understanding of the crypto market.

"Bitcoin is not a digital currency at all," said the founder of MicroStrategy. As the leader of the publicly traded company holding the largest amount of Bitcoin, his statement caused some confusion in the crypto community—does this mean he's abandoning his faith?

But after hearing his full explanation, I realized: this is not a betrayal, but an upgrade in thinking. The logic is actually quite straightforward—Bitcoin's true identity is digital capital, not the money you use daily to buy things. Just like gold plays a role in the banking system, it is a reserve asset.

The real digital currency should be built on these Bitcoin reserves, issuing digital credit to realize it. This way of thinking is quietly changing how ordinary investors participate in crypto assets.

**What is the essence of Bitcoin?**

This industry insider repeatedly emphasized a core logic: Bitcoin is digital property, not money for transactions. He even believes that the term "cryptocurrency" itself is problematic—legally, Bitcoin does not meet the standards of currency.

The most valuable aspect of Bitcoin is its scarcity. With a total supply of 21 million coins and a mechanism that halves approximately every four years, this design naturally makes it an ideal store of value, rather than something you use for daily payments.

He used a vivid analogy to illustrate this point. Using gold as an example—if you want to transport $1 billion worth of gold to Tokyo, it would take three months and $5 million in logistics costs. You simply can't cut it into small pieces and reassemble it. Bitcoin is completely different; it can flow quickly, be precisely divided, and arrive globally in seconds. That’s why it is more suitable than gold as a modern reserve asset.