{ "item_title" : "The Satoshi Strategy", "item_author" : [" Christopher Battle "], "item_description" : "In the spring of 2020, Michael Saylor spent several weeks reading in his Virginia office, guided by a principle he had held since his years at MIT: when significant change is under way, look for the underlying structure rather than reacting to its symptoms. The book that concluded this reading was Saifedean Ammous's The Bitcoin Standard. Within three months MicroStrategy had invested two hundred and fifty million dollars in Bitcoin, and by December it had committed almost its entire cash reserve. Commentators were bewildered and short sellers confident, yet both were observing the wrong variable.The Satoshi Strategy examines the origins and logic of that decision through the lens of System Dynamics. Jay Wright Forrester, who founded the discipline at MIT, held that the behaviour of complex systems is governed chiefly by their feedback architecture rather than by those who operate them. Saylor encountered this framework as Forrester's student in the 1980s. In 2020 he applied it to the monetary system and identified a control architecture that had run for five decades without an effective governor.Drawing on the Austrian monetary tradition, the systems thinking of Forrester and Sterman, the network economics of Marc Andreessen and the historical perspective of Niall Ferguson, the book argues that institutional adoption of Bitcoin was structurally foreseeable. It also considers why System Dynamics remains so little used in the institutions most exposed to its insights, and presents a conservative case for Bitcoin as the technological completion of an argument advanced by Hayek, Friedman, Thatcher and Reagan.It closes as the feedback signal arrives: a former Chancellor, whose thirty-eight days in office taught him more about the fragility of fiat money than three decades of orthodox economics, accumulates Bitcoin in London and warns of a fiscal doom loop in the United Kingdom.The book will interest investors, corporate treasurers, monetary economists and any reader who wants to understand why Saylor's decision was, on structural grounds, a rational one.", "item_img_path" : "https://covers3.booksamillion.com/covers/bam/9/79/890/417/9798904175450_b.jpg", "price_data" : { "retail_price" : "24.99", "online_price" : "24.99", "our_price" : "24.99", "club_price" : "24.99", "savings_pct" : "0", "savings_amt" : "0.00", "club_savings_pct" : "0", "club_savings_amt" : "0.00", "discount_pct" : "10", "store_price" : "" } }

Overview

Customers Also Bought

Details