20-05-2025
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.
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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
