MicroStrategy’s executive chairman, Michael Saylor, has announced his intention to return his Bitcoin wealth back β€œto the civilization” after his passing.

Michael Saylor’s Vision for His Bitcoin Wealth

In an interview on Markets with Madison, Michael Saylor, founder and chairman of MicroStrategy, elaborated on his plans for his substantial Bitcoin holdings. Saylor, a single man with no children, likens his approach to that of Bitcoin’s mysterious creator, Satoshi Nakamoto, who left behind a significant amount of Bitcoin.

β€œI’m a single guy with no childrenβ€” 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,”

With this statement, Saylor reveals his intention to reintegrate his Bitcoin wealth into the market, potentially rejuvenating Bitcoin’s global supply.

Bitcoin Supply Dynamics

As of January 2024, 19.6 million BTC are in circulation, leaving just 1.4 million BTC to be mined. Bitcoin has a hard cap of 21 million tokens, expected to be fully mined by 2140. At that point, miners will no longer receive new tokens as rewards. Saylor’s decision to return his BTC could significantly impact the market dynamics.

Satoshi Nakamoto’s Legacy

Bitcoin’s creator, Satoshi Nakamoto, is rumored to own 1.1 million BTC. Since Nakamoto disappeared in 2011, these tokens have remained largely untouched. However, in January 2024, one of Nakamoto’s wallets received $1.2 million worth of Bitcoin from an unidentified source, sparking renewed interest in Nakamoto’s legacy.

Bitcoin as a Foundation for Civilization

Saylor compares Bitcoin to the “recipe for civilization,” emphasizing its importance as a solid foundation. He references a biblical verse about building houses on a rock rather than sinking sand, suggesting that Bitcoin provides a stable base for future growth.

β€œBuild 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,”

Michael Saylor’s Personal Bitcoin Holdings

As of August 2024, Saylor revealed that he owns more than $1 billion worth of Bitcoin. At that time, Bitcoin was trading at $56,000, making Saylor’s holdings approximately 17,857 BTC. Given Bitcoin’s rising value, this amount could now be worth over $1.1 billion.

MicroStrategy’s Bitcoin Reserves

MicroStrategy has amassed the largest Bitcoin reserve owned by a company, holding 252,220 BTC as of its last purchase on September 20, 2024, which included an additional 7,420 BTC. By March 2024, MicroStrategy’s assets accounted for over 1% of the entire Bitcoin market, marking an unrealized profit margin of approximately $6 billion.

Stay updated with more cryptocurrency news and trends. Explore more at Global Crypto News.

#BearMarket #BullMarket