As a researcher, I am asserting that Michael Saylor, co-founder of Strategy, is confidently countering Wall Street’s skepticism. He believes the company’s financial model, backed by Bitcoin, makes it unprofitable to short its stock. Moreover, he prophesies that the value of Bitcoin could surge to $1 million.
Saylor: Short Strategy at Your Peril
This week, Strategy added 1,045 bitcoin to its reserves, bringing total holdings to 582,000 BTC—valued at more than $60 billion. In a wide-ranging interview with Bloomberg, Executive Chairman Michael Saylor rejected recent criticism from short seller Jim Chanos and defended the premium Strategy shares command over bitcoin’s spot price.
Saylor argued Chanos doesn’t truly understand what Strategy’s business model is. “We’re actually the largest issuer of bitcoin-backed credit instruments in the world,” Saylor said, highlighting the company’s issuance of preferred stocks—STRIKE, STRIDE and STRIFE—that allow it to raise capital without diluting shareholders.
The recent purchase of bitcoins, valued at approximately $110 million last week, was fully financed through specific financial instruments. Contrary to some apprehensions regarding overvaluation, Saylor emphasized that Strategy is not a fixed investment trust but an active business entity capable of acquiring more bitcoin profits. “Our company has realized a BTC-dollar profit equivalent to approximately $8.4 billion in the first half of this year,” he stated.
Saylor further noted that Strategy is projecting $15 billion in bitcoin-related earnings for 2025. He also delivered a bullish forecast about bitcoin’s trajectory: “Winter’s not coming back. Bitcoin’s not going to zero—it’s going to $1 million.” Saylor pointed to increasing institutional interest, ETF inflows and a tightening daily supply of just 450 BTC as driving forces behind his bullish outlook.
Saylor said:
If Bitcoin reaches a price point of $500,000 or even $1 million, it’s possible that it could drop by around $200,000 from those highs. However, at the moment, just $50 million can spark the entire crypto economy’s machinery into action.
Saylor also shrugged off concerns about quantum computing, arguing that tech giants like Microsoft and Google have no incentive to undermine global cryptography, which would threaten their own businesses. He added that any future threat would be telegraphed well in advance, giving bitcoin ample time to adapt. “Bitcoin is less vulnerable than most other digital systems,” he stressed.
Turning to artificial intelligence (AI), Saylor claimed AI would become one of bitcoin’s largest demand drivers. “AI will do 100,000 transactions a minute,” he said, explaining that the speed and logic of intelligent machines will reject legacy banking infrastructure. Instead, he argued, bitcoin and layer two networks will offer the instant, transparent settlement layer AI will require to function at scale.
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2025-06-11 18:36