MicroStrategy founder Michael Saylor has made headlines with his recent announcement that he plans to return his substantial Bitcoin wealth “to the civilization” after he passes away. In an interview with Madison Reidy on Markets with Madison, Saylor discussed his intentions for his Bitcoin holdings, stating, “I’m a single guy with no children—when I’m gone, I’m gone. Just like Satoshi left a million Bitcoin to the universal, I’m leaving whatever I’ve got to the civilization.”
This decision by Saylor has significant implications for the Bitcoin market, as there are currently only 1.4 million BTC left to be mined out of a total limit of 21 million tokens. By returning his BTC to the markets, Saylor would be contributing to the rejuvenation of Bitcoin’s global supply. This move is reminiscent of Bitcoin founder Nakamoto Satoshi, who is rumored to own 1.1 million BTC but has not touched his Bitcoin wallet since disappearing in 2011.
Saylor views Bitcoin as “the recipe for civilization,” likening it to a solid foundation upon which society can build. He referenced a bible verse about building on a solid foundation like rock, stating, “Build on a solid granite foundation. 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.”
As of August 2024, Saylor revealed that he owns more than $1 billion worth of Bitcoin, equivalent to approximately 17,857 BTC at the time. With Bitcoin’s value continuing to rise, Saylor’s holdings could now be worth more than $1.1 billion. His tech company, Microstrategy, holds the largest Bitcoin reserve owned by a company, with 252,220 BTC in its possession. This significant investment has already resulted in an unrealized profit margin of approximately $6 billion for Microstrategy.
Overall, Saylor’s decision to return his Bitcoin wealth to the civilization after his passing reflects his belief in the transformative power of cryptocurrency and its potential to shape the future of society. As Bitcoin continues to gain mainstream acceptance and adoption, Saylor’s actions serve as a testament to the enduring value and impact of digital assets in the modern world.