Michael Saylor, founder and executive president of Strategy, assured that the company will buy “the remaining million bitcoin (BTC)” that remains to be mined until the year 2140.
This was expressed today, May 21, 2026, during the interview he gave to CNBC. In this framework, the businessman hinted that this task will continue beyond his own management (something logical due to a matter of age) by pointing out that it will be his successors within the company who will have to “orchestrate” that process.
In this context, Saylor also defended the financial model that the company uses to continue accumulating bitcoin. “We are creating digital credit backed by BTC,” he said.
Strategy’s strategy consists of issuing different financial instruments (such as convertible bonds and preferred shares) to raise capital and use it in new BTC purchases.
According to Saylor, that model allows you to transform the expected appreciation of BTC into attractive financial products for different investor profiles. “There are trillions of dollars looking for yield,” he said.
To explain the mechanism, Saylor detailed: “What we have done is take a capital asset, BTC, and we are converting that capital or those capital gains into credit dividends.”
In particular, he referred to STRC, one of the preferred shares issued by Strategy. “STRC is the highest-yielding preferred stock in the world,” he said, while highlighting:
“The digital credit is really a synthetic profit where we extract the first 11.5% of our expected capital appreciation from bitcoin.”
Michael Saylor, founder of Strategy.
In that sense, he maintained that the company will continue to take advantage of the capital markets to expand its holdings in the digital currency.
Currently, the company maintains 843,738 BTC, consolidating itself as the publicly traded company with the most BTC in its corporate treasury. “We can continue doing this for a long time,” he noted.
Despite Saylor’s optimism, the reality is that his model has received questions from several analysts. As CriptoNoticias reported, in December 2025, economist Peter Schiff harshly criticized the company’s model and assured that “the business model is a fraud.”
Criticism grew after The company will create a dollar reserve of 1.44 billion to cover dividends and interest over the next 12 to 21 months.
Other market analysts joined these criticisms. Jacob King, founder of WhaleWire and one of the most aggressive critics of BTC on social media, stated that Strategy works as “a dependent scheme of perpetual debt and constant issuance of shares”. He even assured that it is a “Ponzi scheme.”
And this debate also began to transfer to the operation of the BTC market itself. According to a report published on May 17 by the firm 10x Research, Strategy represents close to 70% of all net flows that entered BTC during 2026. “The only structural buyer that supports the price is a single leveraged entity,” the report highlights.
Analysis from 10x Research maintains that much of the organic demand for exchange-traded funds (ETFs) and retail investors disappeared this year, as Strategy continues to absorb BTC through financial issuance.
This phenomenon also opened a debate on systemic risk: What would happen if the price of bitcoin suffered a sharp drop or the market stopped demanding Strategy preferred shares?
The answer is simple: The company could lose financing capacity to continue buying BTC. And if this mechanism is interrupted, one of the main sources of structural demand that supports the market today would also weaken, according to the 10x Research analysis.
Saylor, however, presents that architecture from a different logic. For him, Strategy is separating risks and returns between different types of investors. “The common absorbs the risk, the volatility and the negative, and the credit earns the first 11.5%,” he argued.
Furthermore, the founder of Strategy maintains his bullish stance intact and does not hesitate to affirm: “Bitcoin is the most powerful reserve asset in the world.”