Saylor: Blocking Banks and Markets Would Limit Bitcoin
Michael Saylor wrote that excluding bitcoin from banks and markets would deny it to 99% of users and ‘doom it to 1% of its potential.’ Strategy holds 843,775 BTC at an average $75,482.
Michael Saylor wrote on X that keeping bitcoin out of banks, custodians and capital markets would deny its benefits to 99% of the world and ‘doom it to 1% of its potential.’ He did not link the post to a specific policy or event.
Strategy Inc. (Nasdaq: MSTR), the company Saylor chairs, holds 843,775 BTC. The bitcoin was bought for a total of $63.69 billion, an average cost of $75,482 per coin. At current prices the holdings are worth about $55 billion, producing an unrealized loss compared with the company’s purchase price.
Saylor framed the point as a general position on how bitcoin should interact with existing finance, writing that rejecting integration with banks, custodians, exchanges, equity and credit markets, governments and currencies would limit its reach.
The argument corresponds with efforts by major banks to build infrastructure for digital assets. Citigroup plans to launch an institutional-grade bitcoin custody service in 2026. Citigroup’s proposal would let institutional clients hold bitcoin in the same safekeeping accounts used for stocks and bonds, with unified reporting and the ability to cross-margin digital and traditional assets. Morgan Stanley has also expanded work on custody, trading and tokenization this year.
Strategy began accumulating bitcoin in 2020 and remains the largest corporate holder by a wide margin. On July 26, Saylor posted the company’s acquisition chart with the message ‘we’re gonna need another color,’ suggesting the company may add to its holdings after past market drawdowns.
The company has also presented some of its bitcoin as collateral for financial products. Strategy has used holdings to support its STRC preferred stock, which it says targets private credit markets estimated at more than $3.5 trillion.
Saylor has repeatedly argued that bitcoin’s long-term utility increases as it becomes integrated into banking, credit and government systems. Strategy’s large, currently underwater bitcoin position and the banks’ custody plans present a practical test of that position.
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