In a recent interview with analysts at Bernstein, Michael Saylor, founder and executive chairman of MicroStrategy, outlined the company’s vision to become the leading bitcoin bank, aiming for a trillion-dollar valuation. Since 2020, MicroStrategy has aggressively acquired bitcoin, leveraging debt and equity to build the largest corporate bitcoin holdings in the world.
MicroStrategy’s latest purchase of 7,420 BTC took its total holdings to 252,220 BTC, valued at over $15 billion, against a total cost of around $9.9 billion.
This represents approximately 1.2% of bitcoin’s total supply, positioning the company as a dominant player in the bitcoin market. Saylor sees bitcoin as the top-performing asset of the 21st century, offering a hedge against inflation and a superior long-term value storage tool.
In the interview, Saylor shared his long-term vision for MicroStrategy to become a bitcoin bank, creating financial instruments such as convertibles, preferred shares, and debt structures linked to bitcoin.
He believes that by leveraging capital markets, the company could amass $100 billion to $150 billion in bitcoin, eventually building a $300 billion to $400 billion company. Saylor remains bullish, predicting that bitcoin’s value will rise into the millions per coin, driving MicroStrategy to a trillion-dollar valuation.
“This is the most valuable asset in the world. The endgame is to be the leading bitcoin bank or finance company,” Saylor said. He sees potential for massive growth, envisioning a scenario where the company issues $50 billion in debt and continues accumulating bitcoin as its price soars.
MicroStrategy’s strategy relies on its belief that bitcoin is the best deflationary currency, with Saylor forecasting that bitcoin will represent 7% of global financial capital by 2045, with a projected price of $13 million per coin.
Saylor also emphasized that borrowing in traditional capital markets to invest in bitcoin, rather than lending out bitcoin, is the company’s preferred approach. He argued that lending to bitcoin, which he views as a “no counterparty risk” asset, offers better returns than lending to individuals or institutions.
In terms of scalability, Saylor expressed confidence in raising hundreds of billions of dollars in capital to further invest in bitcoin, betting on the cryptocurrency’s long-term appreciation. He sees bitcoin growing from a trillion-dollar asset class to $10 trillion and beyond.
As bitcoin becomes more widely adopted by institutional players, Saylor predicted that more companies in the crypto ecosystem—such as miners and exchanges—will follow MicroStrategy’s lead by adopting bitcoin as a treasury reserve asset.
