Bitcoin Magazine
Why Michael Saylor Is Building Toward a Trillion-Dollar Bitcoin Balance Sheet
Michael Saylor has never shied away from grand visions, but his latest roadmap Strategy’s Bitcoin strategy may be his boldest yet.
In a wide-ranging conversation with Bitcoin Magazine, the Strategy co-founder sketched out an “endgame” where his firm builds a trillion-dollar bitcoin balance sheet — and then uses that capital base to help reinvent the global credit system.
“I think the endgame is we accumulate a trillion dollars worth of bitcoin and then we grow it 20, 30% a year,” Saylor told Bitcoin for Corporations Managing Director George Mekhail. “The endgame is get to a trillion dollars of collateral growing 30% a year”
At the core of Saylor’s vision is scale. He believes Strategy — and other Bitcoin treasury companies likely to follow — can ultimately accumulate a trillion dollars worth of BTC.
Once there, the mechanics of bitcoin’s long-term appreciation, historically averaging around 21% annually, would supercharge that capital stock.
Bitcoin-backed credit with favorable yields
Layered on top of that, Saylor sees new opportunities to issue bitcoin-backed credit at yields far superior to the fiat system.
The result, he argues, would be a dual flywheel: a massive store of digital collateral growing in value while simultaneously fueling the creation of digital credit markets.
Unlike today’s fiat-based debt systems, where risk-free rates are often suppressed near zero, Bitcoin-collateralized credit could deliver healthier yields, potentially two to four percentage points above traditional corporate or sovereign debt.
That, in Saylor’s telling, could reinvigorate credit markets worldwide. Instead of investors enduring years of “financial repression” in Europe or Japan, where trillions of dollars sit in low-yielding bonds, digital credit backed by Bitcoin would provide stronger returns and greater transparency.
With capital 2x over-collateralized, he says, the system could be safer than even the most conservative AAA corporate debt.
Traditional financial means will become indirect Bitcoin vehicles
Saylor extends the vision beyond credit. As bitcoin becomes embedded in the balance sheets of corporations, insurers, banks, and even sovereign wealth funds, equity indexes like the S&P 500 would gradually become indirect bitcoin vehicles.
That shift, he argues, would inject health into equity markets as well — allowing public companies to benefit from bitcoin’s compounding growth.
The implications stretch across finance: savings accounts yielding closer to 8–10% instead of near-zero; money market funds denominated in bitcoin rather than fiat; insurance products reimagined around bitcoin collateral.
Tech giants like Apple and Google could eventually integrate bitcoin custody and services into their global platforms, pulling hundreds of millions into the digital economy almost overnight.
In this scenario, Bitcoin treasury companies serve as the dynamos powering a new financial architecture — what Saylor calls the foundation of 21st-century banking, credit, and capital markets.
The scale could reach tens of trillions in digital credit backed by hundreds of trillions in Bitcoin capital.
The transformation, he says, would create a world that is “smarter, faster, stronger — 10x better” than the current system, with those participating in the Bitcoin economy enjoying vast advantages over those left outside.
Over the course of the final full week in September, Strategy added 196 bitcoin to its treasury last week for $22.1 million at an average price of $113,048 per coin.
This post Why Michael Saylor Is Building Toward a Trillion-Dollar Bitcoin Balance Sheet first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
