Strategy Founder Michael Saylor’s Busy Week

Michael Saylor, founder of Strategy (formerly MicroStrategy), has had a productive week, making headlines with several Bitcoin-related events.

Bitcoin Purchases and Corporate Announcements

Saylor recently purchased 6,911 BTC for Strategy and made a surprising declaration that he plans to burn most of his personal BTC before he dies, akin to a Bitcoin Giving Pledge. Additionally, he publicly celebrated a corporate decision from GameStop, alongside CEO Ryan Cohen, where the company unanimously approved the purchase of BTC for its corporate treasury.

The Bitcoin Giving Pledge

In a video interview, Saylor lauded GameStop’s decision and expressed his belief that enlightened Bitcoiners should “leave all our money to the human race,” aligning with the principles of Satoshi Nakamoto. He vowed to burn his own private keys before his death, asserting that this would enhance the wealth and power of others in the network. He emphasized a sense of unity, stating, “We’re all in this together — from now to eternity. That’s my legacy.”

Valuing Saylor’s BTC

Historian Pete Rizzo estimated the worth of Saylor’s 17,000 BTC at approximately $1.5 billion based on current market prices. If Bitcoin rises to a $200 trillion market cap by 2045, these coins could potentially be valued at around $173 billion.

Clarifying Bitcoin Ownership

Saylor holds the unilateral authority to burn private keys to his personal BTC only. The 506,137 BTC owned by Strategy is considered a collective asset belonging to MSTR shareholders. It’s important to highlight that Saylor did not mention burning BTC owned by Strategy.

Insights on Burned Bitcoin

Various developers have created tools to track burned BTC, revealing through on-chain metrics that since 2015, at least 2,673 BTC have been burned. Furthermore, a 2023 report from Unchained Capital indicates that a more considerable number of private keys controlling up to 3.8 million BTC might be lost but are not confirmed as burned.