Michael Saylor Urges Banks to Add Bitcoin Services

Michael Saylor, co-founder and executive chairman of MicroStrategy, urged banks in recent public appearances to integrate bitcoin into their product lines and balance sheets and projected the digital asset market could reach $100 trillion.

He recommended that banks build custody, trading and treasury capabilities for bitcoin and other digital assets to meet client demand and participate in potential market growth.

Saylor pointed to bitcoin’s fixed supply, its properties as a digital-transfer asset, prospects for tokenized versions of existing assets, and rising interest from corporations and high-net-worth individuals as reasons for large-scale expansion.

He outlined practical steps for banks: offer secure custody services, make bitcoin available to retail and institutional clients, consider corporate treasury allocations of bitcoin, and engage with regulators to establish clearer legal frameworks for providing services.

MicroStrategy has been a prominent corporate buyer of bitcoin; Saylor referenced his company’s purchases as an example of corporate allocation strategies.

Banks have taken varied approaches so far. Some institutions have announced pilots and custody partnerships, while others limit exposure because of regulatory and compliance concerns. Several large firms are expanding digital-asset desks and testing custody offerings as regulators in multiple jurisdictions continue to refine rules affecting banks and crypto assets.

Bitcoin was created in 2009 and is described by supporters as a store of value. The combined cryptocurrency market is currently much smaller than $100 trillion. Obstacles cited by market participants to reaching Saylor’s projection include price volatility, cross-border regulatory differences, custody risks and gaps in trading, custody and settlement infrastructure.

Supporters point to tokenization of securities, wider corporate treasury adoption and the introduction of new financial products as factors that could drive long-term growth in the digital asset market.