MicroStrategy: the Posterchild for Economic Postmodernism?

In this episode of Metamodernism Uncensored, my two hosts explore a provocative question: Is cryptocurrency company MicroStrategy the posterchild for economic postmodernism? The conversation traces the evolution of money in the digital age, arguing that modern finance has increasingly embraced a worldview in which value is detached from tangible reality. From the abandonment of the gold standard to the rise of Modern Monetary Theory and expansive monetary policy, the hosts contend that society has grown comfortable treating money as an abstract construct rather than a scarce claim on real assets. Against this backdrop, Bitcoin's rise from pennies to well over $120,000 and the emergence of thousands of meme coins are examined as symptoms of a broader cultural shift toward speculation, narrative, and collective belief as the primary drivers of value.The discussion then turns to Michael Saylor's ironically-renamed company, "Strategy" (formerly MicroStrategy), which the hosts describe as the logical endpoint of this trend: a company that raises capital and borrows money largely to acquire more Bitcoin, creating what they see as layers of speculation stacked upon speculation. Particular attention is given to Strategy's newer financial products, including Stretch (STRC), which the hosts argue represent increasingly complex bets built upon the assumption that Bitcoin appreciation will continue indefinitely. While engaging with counterarguments from Bitcoin advocates and economists who view digital assets as legitimate hedges against currency debasement, the episode remains deeply skeptical of today's speculative excesses. It concludes with a cautiously optimistic vision of a future beyond the current mania—one in which blockchain technology survives and flourishes, but valuations become grounded in productive assets, economic reality, and a more mature "metamodern" understanding of value.