Michael Saylor, the head of Strategy (formerly MicroStrategy), isn’t sweating the competition. In a recent Bloomberg interview, he made it clear he welcomes JPMorgan and Warren Buffett into the Bitcoin game. In fact, he thinks they’ll be buying Bitcoin when it’s much more expensive.
Strategy’s All-In Bitcoin Approach
Strategy is completely invested in Bitcoin, and they’re still buying. Saylor believes Bitcoin is still in its early stages, predicting that traditional finance giants like JPMorgan will only jump in when Bitcoin hits $1 million. He sees JPMorgan’s recent moves—allowing Bitcoin ETF-backed loans and soon, direct Bitcoin purchases—as a sign of growing interest, but nothing to worry about. He’s confident Strategy is well-positioned to compete.
“I welcome the competition from JP Morgan. I hope they enter the space. I’m not really worried. When they (finally do it) they’ll be paying $1 million per Bitcoin. The price will go to the moon.”
No More Bear Markets?
Saylor boldly predicted that Bitcoin will never experience another bear market. He attributes this to Strategy’s continued buying and the strong future demand he anticipates. While this might sound unbelievable to many, Saylor sees Bitcoin as the bedrock of Strategy’s business model, giving them a competitive edge and allowing them to issue preferred stock with better liquidity and returns.
JPMorgan’s Entry: Bullish for Bitcoin?
While downplaying the competition, Saylor acknowledges that JPMorgan’s entry into the Bitcoin market could be positive for the overall price, benefiting existing Bitcoin holders. He previously tweeted that Bitcoin will hit $1 million before most wealth managers recommend it, and potentially even $10 million before they fully understand its value.
A Call to Action for Tech Giants
Saylor’s ambitions extend beyond just JPMorgan. He’s encouraging other tech giants like Apple and Microsoft to embrace Bitcoin. He views his push as part of a larger vision, and a direct challenge to skeptics like Jamie Dimon and Warren Buffett, whose criticism he attributes to a lack of understanding of Bitcoin.
In short, Saylor’s message remains consistent: Strategy is buying Bitcoin, and he’s not afraid of the competition. He believes the future of Bitcoin is bright, and he’s betting everything on it.
