I get the sentiment, but I actually disagree. They have done more directly for *payment adoption* but the adoption of bitcoin for any and all use cases is dependent upon it being broadly desirable. It means as many people as possible need to think of it as a safe, reliable way to hold value.

There are no shortcuts to this process. It is literally a slow process of building conviction and those who truly believe holding the line and confidently so.

Medium of exchange simply does not get here in any meaningful sense until it is obvious to everyone that you would want to hold and save in Bitcoin.

It’s path dependent in the same way that you couldn’t have millions of newsletters and blogs until email and the internet. It’s simply can’t scale without the infrastructure for communication. And the “infrastructure” equivalent of bitcoin for payments, is the subset of merchants, users, and institutions that think owning bitcoin is a good idea.

Thus, the most effective path to MoE, is convincing people Bitcoin is the best and most reliable place to park their savings. Saylor’s bull headed was has been a big part of that, all other criticisms aside.