Michael Saylor’s biggest U-turn yet, ‘You don’t need Bitcoin’ originally appeared on TheStreet.
Michael Saylor, who is arguably the most ferocious Bitcoin advocate in the corporate circles, recently seemed to make the biggest U-turn yet.
Saylor is the co-founder and executive chairman of Strategy (Nasdaq: MSTR), earlier known as MicroStrategy. Under his leadership, the business intelligence firm began acquiring Bitcoin in 2020 during the coronavirus pandemic and has since emerged as the world’s largest public corporate holder of the king coin.
As of now, Strategy holds 582,000 BTC worth a whopping $62.3 billion. Among the public companies that are not crypto-native, only Elon Musk’s Tesla (Nasdaq: TSLA) comes a close second, holding 11,509 BTC worth $1.2 billion.
Saylor, who has frequently encouraged both governments and corporations to imitate his firm’s Bitcoin acquisition strategy, wrote on X on 12 June, “If you have everything—you don’t need Bitcoin.”
The billionaire’s latest statement seems to reflect a dramatic diversion from his previous assertions, which have urged widespread Bitcoin adoption.
Saylor, who has repeatedly predicted that Bitcoin will hit $13 million by 2045, elicited a range of responses from the crypto community on X.
Crypto portfolio tracker CoinStats reacted, “If you have Bitcoin—you already have everything.”
An anonymous account @dscompounding wrote, “If you have everything, Bitcoin is your hedge against losing it all.”
Another account @tradewithbread took a rather humorous jibe at the retail trading community.
However, there is more that meets the eye. What Saylor is suggesting could be far more revealing.
Only those with complete financial security can afford to miss out on Bitcoin, but the question is if everyone, including the world’s wealthiest, enjoys such security.
For Bitcoin maximalists, the cryptocurrency is not only a store of value but also a hedge against inflation — nobody should miss out on the asset.
As per Kraken, Bitcoin was exchanging hands at $106,845.40 at press time, reflecting a surge of more than 1,100% over the last five years.
Michael Saylor’s biggest U-turn yet, ‘You don’t need Bitcoin’ first appeared on TheStreet on Jun 12, 2025
This story was originally reported by TheStreet on Jun 12, 2025, where it first appeared.
