Since its launch in 2009, Bitcoin has created tremendous value, disrupted multiple industries, and inspired the creation of thousands of crypto projects now worth over $1.7 trillion USD.
We have witnessed cryptocurrencies being adopted by retail traders, corporations, institutional investors, and even governments developing their central bank digital currencies (CBDCs).
But most importantly, Bitcoin and the underlying blockchain technology powering the digital asset changed the way we think about money and the global financial system.
Crypto’s massive growth throughout the years provided ludicrous earning opportunities for many investors.
However, Bitcoin is not just about profit-taking. Instead, it’s a transition to a new type of prosperity where individuals reach financial sovereignty.
To see the bigger picture, we have listed the top 5 (+1) must-reads about Bitcoin and the future of money in this article.
1. The Sovereign Individual
While it’s not mainly about Bitcoin, the Sovereign Individual by James Dale Davidson and Lord William Rees-Mogg is an essential book for everyone in crypto.
Interestingly, the book was originally published in 1997, but it forecasted the inception of Bitcoin and the proliferation of cryptographic technology 12 years before Satoshi Nakamoto launched BTC.
In the book, the two authors who are well-known investment advisors predicted an information revolution by the second decade of the 21st century.
As part of the transition to the information age, society will get rid of the nation-state the same way as nation-states eliminated the medieval church’s monopoly after the gunpowder revolution.
According to the authors, through cryptographic technologies, money can be separated from the state, and individuals can become financially sovereign.
It’s an exciting read about the future of money and how the authors see society’s evolution in the 21st century and beyond.
Fun fact: In addition to the rise of crypto, the same authors forecasted the 1987 stock market crash, the subprime mortgage crisis, the fall of the USSR, the civil war in Yugoslavia, and some other major global events years before they happened in their other books.
2. Bitcoin: A Peer-to-Peer Electronic Cash System
The original Bitcoin whitepaper by Satoshi Nakamoto is a must-read for anyone looking to learn more about the first working, real-world implementation of cryptocurrency.
While it includes revolutionary and innovative concepts, the Bitcoin whitepaper is surprisingly short and easy-to-digest for readers with basic knowledge about finance and technology.
Bitcoin’s whitepaper gives a brief overview of how the cryptocurrency’s anonymous creator envisioned a peer-to-peer electronic payment system that operates via blockchain technology in a decentralized, democratic, and transparent way.
And, soon after Satoshi published its whitepaper, Bitcoin was born on January 3, 2009 in the wake of the 2008 financial crisis, creating an over trillion-dollar industry and disrupting multiple sectors in the years after.
3. Mastering Bitcoin
Satoshi’s BTC whitepaper takes you through the basics of the world’s top cryptocurrency.
On the other hand, Mastering Bitcoin by Andreas Antonopoulos explains the core mechanics around BTC, blockchain technology, cryptography, and other essential concepts in the crypto space.
Antonopoulos is a tech entrepreneur and computer scientist that has been a keen advocate of Bitcoin since 2012.
With roots to open networks and open-source projects since the 1990s, Antonopoulos has been hosting workshops, creating educational videos, and writing multiple books about Bitcoin.
While the author indeed has good knowledge about cryptocurrencies and blockchain technology, his book is well-suited for beginners and non-technical users as well.
And it’s a must-read for those who seek to learn the ropes or extend their knowledge about Bitcoin, cryptography, and blockchain tech.
4. The Bitcoin Standard
Saifedean Ammous’ book called “The Bitcoin Standard” is another essential read on crypto.
While Mastering Bitcoin takes you through how BTC, blockchain technology, cryptography, as well as other cryptocurrencies and decentralized solutions work, the Bitcoin Standard analyzes the digital asset from a financial perspective.
The author, an economist, guides readers through the early ages of money to modern times to provide an answer to the question of whether Bitcoin can challenge the global monetary order.
While Satoshi describes Bitcoin as a peer-to-peer electronic payment system in the original whitepaper, Ammous argues that BTC is more suitable to function as a store of value or a settlement network between financial institutions.
Most importantly, the Bitcoin Standard shows BTC’s future potential, which is a fascinating read in times when institutional investors, banks, and governments are taking increased interest in digital assets.
5. The Price of Tomorrow
Speaking of money, the Price of Tomorrow by Jeff Booth questions whether the inflation-based monetary policies are really viable solutions while envisioning a deflationary economy and introducing its benefits.
While we take inflation as a part of our lives – so we pay more for the same products over time –, the author, a tech entrepreneur, argues that rapid technological progress will lead us to a future of deflation where the things we buy become increasingly cheaper.
After examining multiple industries, from the growth in usage of artificial intelligence (AI) and automation to the network effect of tech companies, Booth believes that we are heading towards a future where consumers win in the form of better prices and services.
According to the author, unless the government intervenes, this exponential technology-driven deflation will move the world to a similar system reset as the Bretton Woods Agreement in 1944 that tied exchange rates to gold’s price and made the USD the global reserve currency.
Interestingly, according to Booth, central banks will try to hinder the adoption of a deflationary economic model.
However, the author argues that this issue can be solved by adopting an alternative asset like Bitcoin that is scarce, the public can trust, and can’t be manipulated by governments.
5+1. Economics in One Lesson
As an extra, we have included a popular book from Henry Hazlitt, a prominent member of the Austrian School of Economics, a heterodox school of economic thought closely aligned ideologically with Bitcoin and the crypto space.
In his Economics in One Lesson book, the libertarian philosopher, economist, and journalist explains essential economic principles and debunks popular misconceptions of the financial world in an easy-to-digest way.
One of the most exciting concepts Hazlitt introduces in the book is the difference between a good and a bad economist.
According to the author, while the latter only focuses on the short-term results of an action concerning only one group, a good economist takes the future consequences of the same action as well as its impacts on all groups into account.
Hazlitt illustrates the above statement with an example called the “Broken Window Fallacy.”
At the time of publication, a freshly broken window would make many people believe that such an event would lead to economic growth since the owner has to pay a window maker to repair his damaged property.
However, the author argues that a good economist considers a third participant, a shoemaker, the property owner would buy new footwear from. But due to the broken window, the buyer has to repair his house instead of getting a new pair of shoes, which deprives the shoemaker’s money.
In addition to the above, Hazlitt promotes free markets and the financial sovereignty of individuals as well as takes up an anti-deficit stance while opposing government intervention on the economy in his book.