MicroStrategy’s executive chairman, Michael Saylor, claims he intends to return his Bitcoin wealth back “to the civilization” after he dies.
In his interview with Madison Reidy on Markets with Madison, Oct. 21, founder and chairman of Microstrategy, Michael Saylor, discusses what he wants to do with his Bitcoin(BTC) wealth after he passes on.
“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,” said Saylor to Madison Reidy.
This implies that Saylor intends to let go of his Bitcoin wealth. In Jan. 2024, there was a total number of 19.6 million BTC in circulation, leaving just 1.4 million BTC to be mined. With a limit of 21 million tokens, Bitcoin is estimated to reach its maximum in 2140, at which point miners will no longer receive new tokens as a reward. If Saylor returns his BTC to the markets, he would be rejuvenating Bitcoin’s global supply.
According to Bankless Times, Bitcoin founder Nakamoto Satoshi is rumored to own 1.1 million BTC tokens. Though since Satoshi disappeared in 2011, his Bitcoin wallet remains largely untouched. Though in Jan. 2024, one of Satoshi’s wallets received $1.2 million worth of Bitcoin from an unidentified source.
Saylor likens Bitcoin to “the recipe for civilization” that stands as the solid granite-like foundation that people build upon. He refers to the bible verse about God urging people to build houses on a solid foundation like rock instead of sinking sand.
“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,” Saylor stated.
As of Aug. 2024, Saylor revealed that he owns more than $1 billion worth of Bitcoin. At the time of the reveal, Bitcoin was trading hands at $56,000, therefore a billion dollars worth of Bitcoin would be equivalent to approximately 17,857 BTC.
Though now that Bitcoin has been reaching high levels, 17,857 BTC could be equal to more than $1.1 billion.
Saylor’s tech company, Microstrategy, has amassed the largest Bitcoin reserve owned by a company with 252,220 BTC since its last purchase on Sept. 20 of 7,420 BTC. In March 2024, Microstrategy’s assets already took over 1% of the entire Bitcoin market, marking an unrealized profit margin of approximately $6 billion.