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Michael Saylor, founder and chairman of MicroStrategy, revealed in a recent interview with analysts at Bernstein that the company’s ultimate goal is to become a leading Bitcoin 
$102,709 bank. Since 2020, MicroStrategy has consistently bought Bitcoin, utilizing both debt and equity to maximize returns. With the latest acquisition of 7,420 BTC announced last month, the company’s total Bitcoin holdings have reached 252,220 BTC, corresponding to an investment of approximately $15 billion.
Saylor’s Bitcoin Thesis
Saylor believes that Bitcoin is the best-performing asset of the 21st century. Seeing the largest cryptocurrency as a revolutionary digital asset, he argues that it provides strong protection against inflation and offers superior utility as a long-term store of value. He notes that Bitcoin’s volatility attracts yield-seeking investors and believes it will become indispensable for both institutional and individual portfolios over time.
Under Saylor’s leadership, MicroStrategy clearly demonstrates its faith in Bitcoin’s future. If Saylor’s predictions come true and MicroStrategy transforms into a major company with hundreds of billions of dollars in BTC, significant implications could arise. Saylor states that the company aims to become a Bitcoin bank that creates Bitcoin capital market instruments.
Bitcoin Banking Model
MicroStrategy’s strategy is based on a long-term belief that Bitcoin is the best deflationary currency. Currently, Bitcoin constitutes 0.1% of global financial capital, and Saylor anticipates this figure will rise to 7% and that the value of one Bitcoin will reach $13 million by 2045.
The company expects to continue growing if U.S. capital markets permit fundraising through debt and other instruments, allowing for arbitrage between the U.S. dollar capital markets and the largest cryptocurrency. Saylor predicts that Bitcoin will experience an annual growth rate of 29%.
When asked about the scalability of MicroStrategy’s Bitcoin borrowing strategy, Saylor replied, “I believe it can be scaled infinitely.” He added, “I don’t see any problem raising an extra $100 billion, then another $200 billion. This is a trillion-dollar asset class, then it will rise to $10 trillion and eventually to $100 trillion.”
