Michael Saylor: Bitcoin is the Only Fix for "Broken Money"

Michael Saylor, a prominent Bitcoin advocate and CEO of Strategy, has once again issued a forceful call to action: "Go Bitcoin today — the money won't fix itself." Saylor's long-standing philosophy posits that owning Bitcoin is a deliberate countermeasure against the steady erosion of fiat currency, a conviction his company consistently demonstrates through its investment strategy.

Strategy's Unwavering Bitcoin Stance

Strategy continues to be a major player in the corporate Bitcoin landscape, holding a substantial 714,644 BTC. Despite the average acquisition cost being $76,056 per coin and recent purchases pushing the total even higher—including a $90 million acquisition of 1,142 BTC this month at around $78,815 each—Saylor's commitment remains steadfast. Although the current market value, hovering near $68,000, translates to an estimated unrealized loss of nearly $6 billion, the reported book value of these holdings still exceeds $54 billion after close to six years of consistent accumulation. The company's long-term roadmap, extending to 2032, reinforces this strategy, aiming to increase Bitcoin per share through strategic acquisitions and a simple, unwavering mantra: "buy on dips and do not sell."

Market Influence and Underlying Risks

Strategy's aggressive buying strategy has made it the dominant corporate Bitcoin accumulator, accounting for over 90% of net new corporate Bitcoin purchases in January. This significant market presence, while seen by some as a strong vote of confidence that could inspire other institutional investors, also draws scrutiny. Critics express concerns about the concentration of corporate exposure, highlighting potential market fragility if Strategy were to unexpectedly alter its course, leading to rapid price shifts. Questions around governance, balance sheet risk, and shareholder expectations for stable returns are frequently raised, with some arguing that investing heavily in a volatile asset clashes with traditional corporate responsibilities. However, proponents, including Saylor himself, argue that long-term Bitcoin ownership acts as a hedge against currency devaluation, asserting that "paper losses" are temporary if the fundamental thesis holds true.