Bankless · Wednesday, July 1, 2026
Jeff Dorman proposes that MicroStrategy could pivot to become the 'Berkshire Hathaway of crypto' by acquiring cash-flow generating entities with its Bitcoin. He suggests this would diversify the company and move beyond its original narrative of simply owning leveraged Bitcoin.
“Well, I think I read somewhere they have 1,000 employees. Like, what do those 1,000 employees do? Are they just making AI? Some are part of the software business, right? Yeah, they still have a software business, right? So I think they have 10 to 15 employees on the Bitcoin capital market side.”
“So, you know, my stance is that there was all kinds of capital structure trades to do over the last few weeks. I think it's largely over right now. I think, you know, at least for the time being until, you know, another unforced error or the market forces, you know, force something else. I think this is just sort of a boring story for the foreseeable future.”
“You know, he could very easily create the Berkshire Hathaway of crypto and just start making acquisitions with the Bitcoin, right? If Bitcoin really is the scarce asset that he's telling everyone it is and that, you know, a large cohort of the world thinks it is, then there would probably be scenarios where he could buy companies with the Bitcoin where the company would be willing to even take a discount to fair value in order to get the Bitcoin. In which case, he can actually build some cash flow generating entities under his umbrella that not only help satisfy the dividends and the interest rate on the debt, but also ultimately, you know, diversify the company a little bit more.”