At Technique World 2025, Michael Saylor issued a daring message to tech giants like Microsoft: skip the inventory buybacks and purchase Bitcoin as an alternative.
“Microsoft goes to do a buyback,” Saylor mentioned. “Shopping for Bitcoin can be 10x higher than shopping for their very own inventory.” Backed by knowledge, he made the case that company treasuries are leaving huge upside on the desk by sticking with legacy capital methods.
Over the past 5 years, Microsoft inventory has returned a powerful 18% yearly. However Bitcoin? It’s up 62% yearly over that very same stretch. “If the price of capital is the S&P 500 at 14%, Microsoft is outperforming by 4%. Bitcoin is outperforming by 48%,” Saylor emphasised. “Bonds, by the best way, are down 5%—underperforming by 19%.”
In keeping with Saylor, Bitcoin is not only a better-performing asset—it’s a basically completely different kind of asset. “It’s digital capital,” he mentioned. “Every thing digital is healthier. Digital footage are higher. Digital relationships, digital messages, digital movies. Don’t imagine me? Ask Kodak. Ask Polaroid.”
He in contrast Bitcoin to a digital constructing—one which’s invisible, untouchable, and immortal. “Every thing you hate a couple of bodily constructing, that it’s seen and the mayor can lease management it and climate can strike it—every thing you hate about it goes away,” he mentioned. “As a substitute, the constructing turns into invisible, indestructible, immortal, and teleportable.”
Saylor argued that an organization like Microsoft—which constructed its dominance on digital infrastructure—ought to now be powered by digital capital. “Microsoft must be powered by digital capital,” he mentioned plainly.
He additionally pointed to Bitcoin’s distinctive benefit as an uncorrelated asset. “You’re going to carry one thing in your steadiness sheet that’s not correlated to every thing else,” he mentioned. “You are able to do inventory buybacks, dividend out your money circulate, or you possibly can embrace the long run.”
For Saylor, that future is obvious. An organization sitting on billions in money ought to contemplate the upside of Bitcoin—a decentralized, borderless, censorship-resistant asset with the perfect efficiency document of the previous decade.
“You’ve bought to seek out one thing that’s not uncovered to opponents, international locations, firms, collectors, currencies, or cultures,” he mentioned. “And that’s Bitcoin.”
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