Michael Saylor’s Vision for Bitcoin
Michael Saylor, the chairman of Strategy, has made a bold declaration regarding Bitcoin that encapsulates his vision of the cryptocurrency’s role in finance. Over the past five years, Saylor has been instrumental in transforming his company into a focused Bitcoin entity, and he recently stated,
“Bitcoin is money. Everything else is credit,”
emphasizing his belief in Bitcoin as the ultimate currency.
Strategy’s Bitcoin Accumulation
As of September 22, Strategy boasts an astounding 639,835 BTC acquired since August 2020, with an investment totaling approximately $47.3 billion, which reflects a purchasing average of around $73,972 per coin. This strategic accumulation has resulted in a substantial unrealized profit margin exceeding 52%, equating to roughly $72.3 billion in market capitalization that is unmatched by traditional fiat assets that treasurers typically oversee.
Recent Transactions and Market Impact
In September alone, Strategy augmented its holdings by adding over 7,300 BTC through four transactions, suggesting a deliberate increase amid market fluctuations. The company’s approach appears to resonate well with investors, as demonstrated by its market capitalization reaching $95 billion and an enterprise value surpassing $110 billion. Furthermore, evidence of a premium in the company’s net asset value ratios indicates how investors perceive the substantial Bitcoin reserves within the firm.
Redefining Bitcoin’s Role
Saylor’s assertions about Bitcoin extend beyond financial values; he perceives Bitcoin not just as an investment vehicle or a hedge against inflation, but rather as the essence of money itself, dismissing other assets as mere subsets of credit instruments. By framing Bitcoin in this light, Saylor is not only redefining its place within the corporate strategy but also shaping the narrative around cryptocurrency’s legitimacy in the global financial system.
