Michael Saylor didn’t need to shout it. One tweet was enough: a tracker screenshot of his company’s Bitcoin portfolio and a caption that read “Needs even more Orange”:
And just like that, we all knew what was coming. On March 31, Strategy (formerly MicroStrategy) confirmed it had bought another 22,048 bitcoin for $1.92 billion. This takes the company’s total holdings to 528,185 BTC – more than 2.5% of Bitcoin’s total supply. For context, there will only ever be 21 million bitcoin. Saylor’s company now owns over one in every forty.
This latest buy was financed using proceeds from selling MSTR stock and preferred shares. And yet, it’s still not enough for Saylor. He’s already teased further acquisitions.
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Faith or Obsession?
While some believe Michael Saylor is a visionary, others think he’s gone too far. The numbers tell both stories at once.
On one hand, Strategy’s Bitcoin is worth over $43 billion, with the average buy price just under $67,500. That means they’re sitting on over $7 billion in unrealized profit. It’s hard to argue with that kind of success.
On the other hand, the company’s entire strategy now depends on one asset. If Bitcoin goes up, they win. But if it doesn’t, the company will be in serious trouble. There are already whispers about whether the company is over-leveraged. After all, Strategy raised these billions by selling stock. What happens if Bitcoin cools off, and investors stop showing up for the next capital raise?
A One-Way Bet
It’s worth remembering: Strategy has never sold a single bitcoin. Even when BTC was down bad, or reaching the new highs, Saylor has stuck to his script – “buy and hold forever”.
Some see that as confidence. Others see it as dangerous. It’s easy to hold your nerve in a bull market. The real test comes when prices start to wobble. But for now, Saylor’s conviction looks more like a fortress than a gamble.
He’s not just betting on Bitcoin going higher. He’s betting that everything else will do worse – that fiat money will continue to inflate, that governments will keep printing, and that investors will keep turning to Bitcoin as the ultimate exit.
What Does This Mean for Bitcoin Itself?
It’s complicated. On one hand, having a public company absorb 2.5% of Bitcoin’s supply is bullish, as it creates scarcity.
But it also raises uncomfortable questions about decentralization. Bitcoin was designed to be stateless, borderless, and immune to control. What happens when a single company – led by a single person – accumulates a treasury larger than most governments?
There’s a growing tension between Bitcoin’s ideals and its adoption. Saylor is proof that the network is working – but also that it’s being consolidated. Strategy isn’t mining coins or earning them through services. It’s buying them with capital, using Wall Street tools.
Read also: What If MicroStrategy Sold All Their Bitcoins?
A Force to Be Reckoned With
If you’re wondering whether Michael Saylor has gone too far, you’re not alone. Even among Bitcoin believers, there’s a quiet unease about just how much control Strategy now has.
That said, it’s hard to ignore his influence. Saylor has changed the way companies think about digital money. He inspired others to follow his lead – and he did it by putting his company’s entire future on the line, again and again.
Read also: What Happens When All Bitcoins Are Mined?
