As a seasoned analyst with years of experience under my belt, I find Michael Saylor’s intentions to be both admirable and strategic. His decision to return his Bitcoin wealth to the global community mirrors the enigmatic Satoshi Nakamoto’s approach, adding another intriguing chapter to Bitcoin’s lore.
Michael Saylor, MicroStrategy’s executive chairman, asserts that upon his passing, he plans to transfer his Bitcoin holdings back to society at large.
During an interview with Madison Reidy on Markets with Madison, October 21st, Michael Saylor, the founder and chairman of Microstrategy, talks about his plans for his Bitcoin (BTC) fortune upon his demise.
In simpler terms, Saylor told Madison Reidy that he’s a solitary man without any children and when he passes away, there won’t be anyone inheriting from him – just like Satoshi Nakamoto left a million Bitcoins for everyone, Saylor plans to give whatever possessions he has to humanity.
It seems that by getting rid of his Bitcoin holdings, Saylor could potentially increase the total amount of Bitcoin in circulation, which is currently capped at 21 million tokens and expected to reach that limit in 2140. This action would effectively boost the global supply of Bitcoin.
As a research analyst, I’ve come across intriguing speculations. According to Bankless Times, the enigmatic creator of Bitcoin, Satoshi Nakamoto, is rumored to have amassed approximately 1.1 million BTC tokens. Since his disappearance in 2011, Satoshi’s Bitcoin wallet has remained largely untouched. However, a surprising event took place in January 2024, when one of Satoshi’s wallets mysteriously received over $1.2 million worth of Bitcoin from an unidentified source.
Saylor compares Bitcoin to a blueprint for civilization, serving as a robust, stone-like base that society constructs upon. This is much like the advice in scripture, where God advises building homes on a firm rocky foundation rather than shifting sands.
“Saylor explained that just like Manhattan’s tall steel structures are built on a solid granite base, so too is civilization. Manhattan, in essence, is 100-story buildings made of steel and powered by electricity, the closest comparison to granite you can find. In his view, this is what Bitcoin represents.
By August 2024, Saylor disclosed that he possesses Bitcoin valued over one billion U.S. dollars. At the time of his announcement, the price of one Bitcoin was around $56,000, which means that a billion dollars’ worth of Bitcoin equates to approximately 17,857 Bitcoins.
Currently, with Bitcoin prices at their peak, a single Bitcoin (BTC) can be worth over $1.1 billion, making 17,857 Bitcoins valued at more than $1.1 billion as well.
Microstrategy, a tech company led by Saylor, currently holds the largest corporate Bitcoin stash at around 252,220 Bitcoins. This was accumulated with their latest purchase on September 20, adding 7,420 more Bitcoins to their holdings. By March 2024, Microstrategy’s Bitcoin assets accounted for over 1% of the entire Bitcoin market, signifying an impressive unrealized profit potential of roughly $6 billion.
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2024-10-22 14:54