Key Points
- MicroStrategy’s executive chairman, Michael Saylor, plans to return his Bitcoin wealth to society after his death.
- Saylor’s tech company, Microstrategy, holds the largest Bitcoin reserve owned by a company, with 252,220 BTC.
Michael Saylor, executive chairman of MicroStrategy, has stated his intention to give his Bitcoin wealth back to society after his death.
In a conversation with Madison Reidy on Markets with Madison on October 21, Saylor discussed his future plans for his Bitcoin(BTC) wealth.
Saylor’s Bitcoin Legacy
Saylor, who is unmarried and childless, compared his plans to those of Satoshi, who left a million Bitcoin to the world. “Just like Satoshi left a million Bitcoin to the universal, I’m leaving whatever I’ve got to the civilization,” he said.
This suggests that Saylor intends to release his Bitcoin holdings back into circulation. As of January 2024, there were 19.6 million BTC in circulation, with only 1.4 million BTC left to be mined. Bitcoin has a cap of 21 million tokens and is expected to reach this maximum in 2140, at which point no new tokens will be mined. If Saylor returns his BTC to the market, it would increase Bitcoin’s global supply.
Bitcoin: A Foundation for Civilization
Saylor views Bitcoin as a fundamental building block for civilization, likening it to a solid granite foundation. He referred to a bible verse urging people to build on solid foundations rather than unstable ones. “So what is Manhattan? It is 100 story steel buildings powered by electricity on cist. Closest to granite you can find. That’s the recipe for civilization, that’s what Bitcoin is,” he stated.
As of August 2024, Saylor disclosed that he owns more than $1 billion worth of Bitcoin. At that time, Bitcoin was trading at $56,000, meaning a billion dollars worth of Bitcoin would equate to approximately 17,857 BTC. However, with Bitcoin’s recent surge, 17,857 BTC could be worth more than $1.1 billion.
Microstrategy, Saylor’s tech firm, holds the largest Bitcoin reserve of any company, with 252,220 BTC. As of its last purchase in September, Microstrategy’s assets accounted for over 1% of the entire Bitcoin market, representing an unrealized profit margin of around $6 billion.