Michael Saylor has consistently embraced ambitious goals, and his latest Bitcoin strategy may be his most daring yet.
In a comprehensive discussion with Bitcoin Magazine, the co-founder of Strategy outlined an “endgame” where his firm aims to build a trillion-dollar bitcoin balance sheet — using that capital to help reshape the global credit landscape.
“I believe the endgame is to accumulate a trillion dollars in bitcoin and then grow it by 20 to 30% annually,” Saylor shared with Bitcoin for Corporations Managing Director George Mekhail. “The goal is to reach a trillion dollars in collateral that appreciates by 30% each year.”
Central to Saylor’s vision is scalability. He believes that Strategy — along with other Bitcoin treasury entities that may emerge — can amass a trillion dollars in BTC.
Once this is achieved, the mechanics of bitcoin’s long-term appreciation, historically averaging around 21% annually, would amplify that capital stock.
Bitcoin-backed credit with superior yields
In addition, Saylor sees fresh possibilities for issuing bitcoin-backed credit at yields significantly higher than those offered by the fiat system.
This, he asserts, would create a dual flywheel: a vast reserve of digital collateral increasing in value while simultaneously driving the development of digital credit markets.
Unlike today’s fiat-dependent debt systems, which often keep risk-free rates near zero, Bitcoin-collateralized credit could provide healthier yields, potentially outpacing traditional corporate or sovereign debt by two to four percentage points.
According to Saylor, this could rejuvenate credit markets on a global scale. Investors would no longer have to endure prolonged periods of “financial repression” in areas like Europe or Japan, where trillions of dollars languish in low-yielding bonds. Instead, digital credit backed by Bitcoin would offer stronger returns and enhanced transparency.
With capital over-collateralized by 2x, he claims, the system could prove to be safer than even the most conservative AAA-rated corporate debt.
Traditional financial methods becoming indirect Bitcoin channels
Saylor’s vision extends beyond just credit. As bitcoin becomes integrated into the balance sheets of corporations, insurers, banks, and sovereign wealth funds, equity indices like the S&P 500 could gradually turn into indirect Bitcoin vehicles.
He argues that this transition would invigorate equity markets as well — enabling public companies to reap benefits from the compounding growth of bitcoin.
The broader implications for finance are significant: savings accounts yielding closer to 8–10% rather than near-zero; money market funds denominated in bitcoin instead of fiat; insurance products reimagined with bitcoin as collateral.
Tech giants like Apple and Google might eventually incorporate bitcoin custody and services into their global platforms, bringing hundreds of millions into the digital economy almost instantaneously.
In this vision, Bitcoin treasury companies would act as the engines driving a new financial architecture — what Saylor describes as the foundation for 21st-century banking, credit, and capital markets.
The potential scale could reach tens of trillions in digital credit supported by hundreds of trillions in Bitcoin capital.
Saylor believes this transformation would create a world that is “smarter, faster, stronger — 10x better” than the current system, providing participants in the Bitcoin economy significant advantages over those who remain outside it.
During the last full week of September, Strategy added 196 bitcoin to its treasury for $22.1 million at an average price of $113,048 per coin.
