Michael Saylor on $100K Bitcoin: A Strategic Bet on Future Value

Michael Saylor, executive chairman of Microstrategy, addressed concerns about bitcoin’s rising price in a discussion with Barstool Sports founder Dave Portnoy on Monday. Portnoy questioned whether bitcoin, having reached $100,000 a coin, has become too expensive. Saylor dismissed the idea, asserting his commitment to long-term investment regardless of the price.

“I’m gonna keep buying,” Saylor stressed, emphasizing:

I’ll be buying it at a million dollars a coin and I’ll probably be buying it at the rate of a billion dollars a day at a million dollars a coin, because that’s what I do.

Saylor likened bitcoin to Manhattan real estate, illustrating how rising prices do not diminish an asset’s long-term value. “Manhattan real estate’s really expensive in 1930. It’s a lot more expensive than 1830. I’m like, well, you know, 100 years later we’ll still be buying it and we’ll be paying a lot more. The only issue is, can you hold it for that time period? Because people are going to want to buy it,” he remarked.

Citing bitcoin’s decentralized and incorruptible nature, Saylor detailed: “Bitcoin gives you control of your money … You have to be on a network that won’t freeze you or censor you, and you’ve got to have an asset that nobody else can debase.” According to Saylor, bitcoin’s rising price is not a limitation but evidence of its growing global adoption and unique value as a store of wealth.

Portnoy also pressed Saylor on whether his confidence had wavered since Microstrategy began investing in bitcoin in 2020. Saylor admitted facing initial challenges, recounting: “We bought $250 million at like $11,800 a coin, and then it crashed 20%. We lost $40 million in the next week and a half.” Despite this, he doubled down on bitcoin, committing to the long term. For Saylor, bitcoin represents both a financial strategy and a means of economic empowerment. The Microstrategy executive chairman affirmed:

Once you’re committed, you’re in … I’m going to ride it to zero or we’re going to win, but I’ve decided I want to win.

Microstrategy recently acquired 21,550 additional bitcoins, bringing its total holdings to 423,650 BTC, valued at $25.6 billion. The purchase highlights the company’s ongoing investment in BTC as a significant asset.

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