On the Bitcoin for Firms 2025, MicroStrategy government chairman Michael Saylor turned his keynote right into a direct problem for one of many know-how sector’s most cash-rich giants. Chatting with an viewers of chief monetary officers and treasury executives, he argued that Microsoft ought to shift tens of billions of {dollars} from share buybacks and short-dated Treasuries into Bitcoin, calling the cryptocurrency “the common, perpetual, worthwhile merger associate” that outclasses each different treasury asset within the artificial-intelligence age.
Microsoft Wants Bitcoin: Saylor
Saylor framed the comparability starkly. “Microsoft is up 18% a 12 months for the previous 5 years. Bitcoin is up 62%,” he stated, including that the S&P 500’s compound development price of roughly 14% defines the hurdle price by which company capital allocation is judged. “Normalize the whole lot in opposition to that value of capital and also you uncover Microsoft’s actual out-performance is 4%. Bitcoin’s is 48%. Bonds are adverse. Why would you maintain the factor that’s destroying capital when the apex asset is compounding virtually 50% above the price of cash?”
He then zeroed in on Microsoft’s present stability sheet combine. “If Microsoft buys bonds, you’re destroying 99.7% of your capital over ten years,” he declared. “Shopping for your individual inventory is just marginally much less catastrophic—you’re vaporizing 97%. Shopping for Bitcoin can be ten occasions higher than shopping for again MSFT.”
Saylor’s argument rests on his conviction that Bitcoin inaugurates a 3rd financial epoch. “Gold was nineteenth-century cash; sovereign debt was twentieth-century cash. Bitcoin is twenty-first-century cash—the primary liquid, fungible capital asset with no counterparty,” he stated. He dates the institutional “12 months zero” for Bitcoin to 2024, “the second the SEC blessed spot ETFs and FASB signaled fair-value accounting.” By that chronology, 2025 is “12 months one” and the window for first-mover benefit is already narrowing.
To quantify the upside, Saylor revealed that his workforce ran Microsoft by the open-source “Bitcoin 24” treasury-modeling device. 4 eventualities had been stress-tested: sweeping extra money into Bitcoin, substituting dividends for coin purchases, changing buybacks with accumulation, and including a skinny layer of leverage. “Relying on the combination, it provides wherever from $155 to $584 a share—one to 5 trillion {dollars} in enterprise worth—whereas taking much less threat,” he stated. “I’m asking you to cease surrendering the capital you simply spent 5 years profitable.”
The emotionally charged moments of the keynote got here when Saylor linked treasury coverage to operational pressure. “Whenever you divest your self of $200 billion, you amplify each threat think about your individual prospectus,” he warned. “You place huge strain in your workers, then in your prospects—lock them into three-year contracts, pressure them to purchase the whole lot after they solely need some issues—then your rivals complain and the regulators sue you. All of it since you’re chasing quarterly volatility you could possibly hedge immediately by holding a non-correlated arduous asset.”
He pressed the purpose with a thought experiment aimed squarely at Microsoft’s board. “In the event you may purchase a hundred-billion-dollar firm rising 60% a 12 months at one-times income, would you do it? What in case you may do it yearly, without end?” he requested. “That’s Bitcoin. The irony is that the least dangerous acquisition conceivable is perceived as dangerous by consensus finance.”
🇺🇸 MICHAEL SAYLOR JUST CALLED MICROSOFT TO BUY $75 BILLION OF #BITCOIN AND MAKE $4 TRILLION
IT’S COMING!!! 🚀 pic.twitter.com/ujyHwquA0e
— Vivek⚡️ (@Vivek4real_) Might 6, 2025
Saylor reserved his longest uninterrupted passage for a ultimate attraction: “Wealthy persons are not wealthy due to a future expectation of money flows; they’re wealthy as a result of they personal arduous belongings. I’d moderately be invested in a wealthy firm than in an organization that provides away its cash and guarantees to work ever tougher and lift costs on prospects advert infinitum.”
He added: “You may cling to twentieth-century capital—treasury payments, inventory buybacks, dividends—or you possibly can embrace the long run, capitalize on Bitcoin, and switch a decapitalization spiral into progressive development. It’s good in your prospects, your workers, your shareholders, your nation, and your legacy. Undertake Bitcoin.”
The shorthand $75 billion wager circulating in convention corridors displays Microsoft’s licensed buyback and two years of ahead dividends folded right into a single digital-asset allocation. Notably, Microsoft shareholders voted in opposition to a proposal so as to add Bitcoin to the corporate’s stability sheet through the agency’s assembly on December 10.
At press time, BTC traded at $96,521.
Featured picture from YouTube, chart from TradingView.com
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