Michael Saylor, co-founder of Strategy (formerly MicroStrategy), has once again signaled that his company might buy more Bitcoin soon.
Saylor shared a Bitcoin price chart on X (formerly Twitter) with the message, “Nothing Stops This Orange.” This is similar to his past posts that usually appear just before his firm announces more Bitcoin purchases to U.S. regulators.
Saylor Bets Big on Bitcoin, Not Everyone Buys It
Recently, Strategy has been aggressively adding to its Bitcoin stash, now holding around 592,100 BTC worth over $60 billion. This makes them the largest corporate Bitcoin holder, controlling nearly 3% of all Bitcoin.
But Saylor has faced criticism for refusing to share how the company stores its Bitcoin or provide proof of its holdings.
But not everyone agrees with him. Well-known investor Jim Chanos, famous for exposing companies like Enron, has questioned Saylor’s claims about the company’s debt. Saylor insists their debt is safe because it’s “convertible,” “unsecured,” and has “no recourse,” meaning they wouldn’t be in trouble even if Bitcoin’s price crashed.
Chanos disagrees, saying Strategy would still be responsible for paying off its debts if they don’t convert to company shares before the deadline. His firm has even taken a unique position, betting against Strategy’s stock while staying positive on Bitcoin itself.
While many believe in Bitcoin’s long-term future, some investors think Saylor’s bold strategy could come with hidden risks.
Saylor Says Bitcoin Could Reach $21 Million
Saylor remains very confident in Bitcoin’s future. He recently predicted that Bitcoin could reach $21 million per coin in the next 21 years. This is a big jump from his $13 million prediction last year.
Saylor said recent events, like the White House supporting Bitcoin and Donald Trump’s pro-Bitcoin stance, have made him even more optimistic. He also says new U.S. laws are being discussed that could help Bitcoin grow further.
However, he now faces criticism for rejecting the idea of self-custody, which many in the Bitcoin community believe is important. Despite this, Saylor believes Bitcoin’s future looks very strong.
