Unchained · Friday, July 3, 2026
Michael Saylor's strategy for institutional Bitcoin accumulation has evolved over time, moving from a static approach to something more akin to active management. The company has leveraged its ability to issue preferred instruments and its market gravitas to manage its Bitcoin treasury.
“Number one is, I think it's important to keep in mind that Saylor was the OG in this whole, uh, institutional Bitcoin accumulation strategy. And I think sometimes these narratives, they develop much more iteratively than actually having been set in stone from day zero.”
“I think over time, we, we learn that maybe an institutional Bitcoin accumulation strategy can look much more like active management instead of looking much more like the whole forever that maybe a lot of folks, uh, like maybe a lot of us would do, uh, in our XRP.”