At Technique World 2025, Michael Saylor issued a daring message to tech giants like Microsoft: skip the inventory buybacks and purchase Bitcoin as a substitute.
“Microsoft is going to do a buyback,” Saylor stated. “Buying Bitcoin would be 10x better than buying their own stock.” Backed by information, 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 formidable 18% yearly. However Bitcoin? It’s up 62% yearly over that very same stretch. “If the cost of capital is the S&P 500 at 14%, Microsoft is outperforming by 4%. Bitcoin is outperforming by 48%,” Saylor emphasised. “Bonds, by the way, are down 5%—underperforming by 19%.”
In keeping with Saylor, Bitcoin isn’t just a better-performing asset—it’s a essentially completely different kind of asset. “It’s digital capital,” he stated. “Everything digital is better. Digital pictures are better. Digital relationships, digital messages, digital videos. Don’t believe me? Ask Kodak. Ask Polaroid.”
He in contrast Bitcoin to a digital constructing—one which’s invisible, untouchable, and immortal. “Everything you hate about a physical building, that it’s visible and the mayor can rent control it and weather can strike it—everything you hate about it goes away,” he stated. “Instead, the building becomes 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 should be powered by digital capital,” he stated plainly.
He additionally pointed to Bitcoin’s distinctive benefit as an uncorrelated asset. “You’re going to hold something on your balance sheet that’s not correlated to everything else,” he stated. “You can do stock buybacks, dividend out your cash flow, or you can embrace the future.”
For Saylor, that future is obvious. An organization sitting on billions in money ought to think about the upside of Bitcoin—a decentralized, borderless, censorship-resistant asset with one of the best efficiency file of the previous decade.
“You’ve got to find something that’s not exposed to competitors, countries, corporations, creditors, currencies, or cultures,” he stated. “And that’s Bitcoin.”
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