Dubai: Want to invest in crypto? Read this book now
'Just read The Bitcoin Standard.' That was the advice I got two years ago when I told someone I was having trouble grasping exactly why anyone would invest in Bitcoin. I knew I was being called to learn about it, but I had real trouble putting it all together. Thrilled to finally have some direction, I immediately ordered Palestinian-Jordanian journalist Saifedean Ammous's book. That moment marked the beginning of my journey into understanding Bitcoin – and that paperback remains one of the most fascinating I've ever read.
Recently, I ran into a friend's husband at the coffee shop in my building. In the course of our conversation, he said he was crypto-curious. He'd been listening to podcasts and watching YouTube videos, but he was still pretty confused – understandably so. He admitted he was too embarrassed to ask basic questions – starting with 'why'. I was seriously impressed with him: this kind of humble expression of curiosity is all too rare
these days.
I told him about The Bitcoin Standard and when he said he'd definitely read it, I ran upstairs and grabbed my copy. I've recommended it many times before, but this was the first time someone actually seemed ready to dive in.
I loved this book so much that in December, I made sure to get a pass to the Bitcoin MENA conference in Abu Dhabi just to see Ammous speak. He's sold more than a million books worldwide. After The Bitcoin Standard in 2018, he released The Fiat Standard in 2021. At the conference, he was talking about his latest: The Gold Standard: An Alternative Economic History of the Twentieth Century, which is out this month. It's a piece of economic fiction imagining a world where the gold standard was never dropped — and where money still meant something.
Ammous's writing is essential for anyone setting out, I think, because of the way he so clearly outlines how little our money means – and how easily it can be manipulated. Whether it's clipping silver coins or the earliest forms of counterfeiting, once you see it, you can't unsee it.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The Bitcoin Standard is more than just a book; it's an essential, revered text that offers a wide-angle view of Bitcoin's place in the modern financial system. Ammous's insights into the flaws of fiat currency – money – and the benefits of a digital asset like Bitcoin are both enlightening and practical. For anyone considering investing in Bitcoin – or just, like my friend, trying to wrap their head around the 'why' behind it – I can't think of a better place to begin.
Here are a few of the reasons Ammous is all-in on calling Bitcoin the soundest money around:
It's scarce
Ammous argues that Bitcoin's fixed supply of 21 million coins makes it the first truly scarce digital asset — immune to debasement by governments or central banks. He makes a compelling case for how tempting it's been throughout history for empires to chip away at their currencies when it serves them. His critique of fiat currencies points directly to inflation, enabled by endless money printing and political interference.
It's decentralised and sovereign
Bitcoin operates independently of any government or central authority. That gives individuals full sovereignty over their wealth, reducing the risk of confiscation or censorship. There's no bank to go to and no middleman deciding if – or when – you can access your money.
It lowers time preference
Drawing on Austrian economics, Ammous argues that sound money encourages long-term thinking that values future rewards over short-term consumption. He backs this up by going back to the gold standard era, where economic stability and growth were the norm. Bitcoin holders, he has observed, tend to be savers precisely because they expect appreciation. And that helps them think twice before spending unnecessarily.
It has global potential
Ammous predicts that Bitcoin could serve as a new international monetary standard, much like gold did in the past. And while it's not there yet, it's edging in that direction. Individuals, family offices, companies, universities and even some nation-states are beginning to consider Bitcoin as part of their reserve strategy. His thesis seems more credible with every passing month.
It's portable and efficient
Gold is heavy, needs secure storage, and is tricky to exchange. Ammous highlights how Bitcoin, by contrast, is portable, divisible, and easy to transfer. Cross-border transactions can be settled in minutes, without banks or intermediaries. On the blockchain, everything is transparent and traceable.
If you're confused about what's going on with this so-called 'digital gold', I can't think of a better place to start than with The Bitcoin Standard. It gives you the 'why' of Bitcoin before you even think about the 'how'.
Just one thing: you're going to need to order your own copy. I already gave mine away.
KT Luxe
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
16 hours ago
- Zawya
GameStop buys bitcoin worth $513mln in crypto push
GameStop has purchased bitcoin worth about $513 million, the company said on Wednesday as the ailing video game retailer looks to capitalize on the growing adoption of cryptocurrencies globally. GameStop said in a filing it acquired 4,710 bitcoins, although it did not disclose the period for the purchases. The world's largest cryptocurrency was trading down 0.7% at $108,903 by 7 a.m. ET. The purchases are GameStop's first bitcoin purchase since unveiling its plans in March to invest in the digital asset, adopting a strategy pioneered by Michael Saylor's Strategy, an enterprise software company and the largest corporate holder of bitcoin. Strategy's stock has seen significant gains alongside the rising price of bitcoin, attracting investors seeking exposure to the digital asset without directly investing in it. For GameStop, which was at the center of 2021's meme-stock frenzy, the move could boost investor interest at a time it is struggling to turn around its mainstay business of selling video games through brick-and-mortar stores in the digital age. Shares of the Dallas, Texas-based company were 4.4% higher in pre-market trading. The company had cash, cash equivalents and marketable securities of $4.78 billion as of Feb. 1. The announcement comes a day after Trump Media and Technology Group, U.S. President Donald Trump's social media firm, said it would raise $2.5 billion to buy bitcoin.
Arabian Post
17 hours ago
- Arabian Post
GameStop's Bold Bitcoin Bet Signals Strategic Shift
GameStop Corp. has acquired 4,710 Bitcoin, marking a significant move into digital assets as part of its evolving corporate strategy. The announcement, made from the company's headquarters in Grapevine, Texas, reflects a broader shift in its investment approach, aligning with its updated corporate policy to include cryptocurrency holdings. The acquisition positions GameStop among a growing list of publicly traded companies integrating Bitcoin into their treasury reserves. This strategy mirrors that of firms like MicroStrategy, which have adopted similar approaches in recent years. GameStop's decision comes amid ongoing challenges in its traditional retail operations, including declining physical game sales and increased competition from digital platforms. Market reactions to the announcement were immediate, with GameStop's stock experiencing a 6.5% increase in pre-market trading. This uptick reflects investor optimism about the company's diversification efforts and its potential to capitalize on the growing interest in digital assets. ADVERTISEMENT The company's move into Bitcoin follows a broader trend of corporate adoption of cryptocurrencies, as businesses seek alternative assets to hedge against inflation and diversify their portfolios. Analysts have noted that while such strategies carry inherent risks due to the volatility of digital currencies, they also offer opportunities for significant returns. GameStop's financial position, with a reported $4.8 billion in cash reserves as of early February, provides the company with the flexibility to explore such investments. The decision to allocate a portion of these reserves to Bitcoin indicates a calculated risk aimed at long-term growth and resilience in a rapidly changing market landscape. Industry observers have highlighted the potential benefits of this move, suggesting that it could enhance GameStop's appeal to a broader investor base and align the company with emerging financial trends. However, they also caution that the success of this strategy will depend on the company's ability to manage the inherent risks associated with cryptocurrency investments.
Arabian Post
18 hours ago
- Arabian Post
CGTN: Sci-fi becomes reality: China's groundbreaking humanoid fighting championship captivates global audiences
China Media Group debuted the world's first humanoid robot combat event in Hangzhou on May 25, 2025, showcasing bots performing martial arts moves learned from motion-captured fighters. Celebrated as a tech milestone, the competition merges innovation with spectacle, signaling China's ambition to lead the robotics industry and pioneer real-world applications. BEIJING, CHINA – Media OutReach Newswire – 28 May 2025 – China Media Group (CMG) unveiled the world's inaugural humanoid robot fighting competition on Sunday in Hangzhou City, east China's Zhejiang Province, marking a milestone in robotics innovation. Dubbed the 'Mech Combat Arena Competition,' this high-energy event showcased robots engaging in choreographed combat, performing moves like jabs, uppercuts and kicks. As part of CMG's broader World Robot Competition Series – which includes robot football and basketball – the tournament blends education and entertainment, aiming to popularize cutting-edge robotics through immersive, theme-based spectacles. ADVERTISEMENT How robots learned to fight Behind the robots' seemingly effortless martial prowess lies a meticulous development process: the bots learn from human 'shifus.' Engineers collaborated with professional fighters to capture motion data from key body joints during real combat maneuvers. This data was then integrated into the robots' AI-backed control systems, followed by extensive testing and refinement to ensure stability and fluidity. The result? Machines capable of dynamic, human-like agility under intense duress – a testament to advancements in motion planning and real-time balance control. Two robots fight on stage during the world's first humanoid robot fighting competition, Hangzhou City, east China's Zhejiang Province, May 25, 2025. /China Media Group Experts laud breakthroughs and future potential The competition has drawn praise from industry leaders for pushing technological boundaries. Liu Tai, deputy chief engineer at the China Academy of Information and Communications Technology, called the event 'a thrilling demonstration of stability and coordination in high-intensity scenarios,' highlighting its role in bridging scientific progress with industrial application. Meanwhile, Sun Tizhong, an official in charge of future industries development in Zhejiang Province, emphasized the region's strategic focus on humanoid robotics, citing its 'explosive potential' and noting Zhejiang's 2024 action plan to foster cross-sector collaboration in the field. Global audiences embrace the robotic revolution The tournament resonated far beyond the Chinese mainland. Media outlets in China's Taiwan region hailed it as turning 'sci-fi into reality,' while Taipei youths praised CMG for transforming complex topics like productivity innovation into accessible public discourse. On social media, international viewers flooded CGTN's YouTube channel with enthusiastic reactions: 'This is just the start. Imagine in five years with all the crazy tech advancements.' 'Soon this will become a new world sporting event.' 'The fact that they chose to include kicks… and generally pull it off is impressive.' 'American dreams, all comes true in China.' From showbiz to real-world applications The Hangzhou showdown follows April's historic humanoid robot half-marathon in Beijing, where the Tiangong Ultra robot completed 21 kilometers in under three hours. While still a collaborative experiment rather than a pure competition, the race underscored broader ambitions. As engineer Cheng Xuemei noted, the technology behind these feats could revolutionize elder care, hazardous environment operations and industrial automation. With China projected to produce over 10,000 humanoid robots by 2025 – claiming more than half the global market – the nation's robotics sector appears poised to reshape both industry and daily life worldwide. For more information, please click: Hashtag: #CGTN The issuer is solely responsible for the content of this announcement.
