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Michael Saylor, executive chairman and co-founder of MicroStrategy, reaffirmed his unwavering commitment to Bitcoin’s long-term strategy during a February 12, 2026, interview on CNBC’s “Squawk Box” and subsequent X Spaces session with the Bitcoin community.
Saylor dismissed short-term price volatility and market noise, insisting that Bitcoin remains “the apex property in the digital economy” and the superior store of value for corporations and institutions. “We’re not traders; we’re builders of long-term capital,” he stated. “Bitcoin is digital gold 2.0—scarce, portable, verifiable, and unstoppable. Every day we hold it, we win.”
MicroStrategy’s Bitcoin treasury now exceeds **478,740 BTC** (valued at roughly **$46–$48 billion** at current prices around $98,000–$100,000), making the company one of the largest corporate holders globally. Since initiating its Bitcoin acquisition strategy in August 2020, the firm has consistently bought during dips, funded through convertible debt, equity offerings, and operational cash flow—never selling a single satoshi.
Key pillars of Saylor’s defense of the long game:
– **Scarcity & network effects** — Bitcoin’s fixed 21 million supply cap and growing adoption create compounding value over decades, not quarters.
– **Inflation hedge** — With fiat currencies losing purchasing power, Bitcoin offers asymmetric upside as “the hardest money ever invented.”
– **Institutional momentum** — Spot Bitcoin ETFs, sovereign funds, pension plans, and Fortune 500 treasuries continue to accumulate, validating the thesis.
– **MicroStrategy model** — By leveraging low-cost debt to buy BTC, the company has delivered extraordinary shareholder returns (MSTR stock up over 1,800% since 2020) while turning Bitcoin exposure into a high-conviction corporate strategy.
Saylor addressed critics who call the approach reckless: “Volatility is the price of admission for asymmetric returns. If you can’t handle 50–80% drawdowns, you shouldn’t be in Bitcoin—but those who can are building generational wealth.”
Looking ahead, Saylor reiterated MicroStrategy’s “buy-and-never-sell” policy and hinted at continued accumulation in 2026, potentially funded by new instruments. He also predicted Bitcoin could reach **$13 million** per coin in the long run as global capital rotates into digital assets.
While skeptics point to opportunity cost and balance-sheet risk, Saylor’s track record—and MicroStrategy’s market cap outperformance—continue to make the long-term Bitcoin bet one of the most polarizing yet successful corporate strategies of the decade.
