Bitcoin Treasuries Are Changing How Companies Invest—Here’s How
Michael Saylor, co-founder of Strategy (formerly MicroStrategy), had some interesting things to say about Bitcoin at this week’s BTC Prague conference. His main point? Companies holding Bitcoin in their treasuries can grow *fast*—as fast as they can raise money to buy more of it.
It’s a different game compared to individual investors. A dentist might scrape together $200,000 a year for Bitcoin, Saylor explained. After two decades, that’s $2 million. But a public company? It could issue bonds, preferred stock, or other securities and buy that same $2 million in a *month*.
Why More Companies Are Considering Bitcoin Treasuries
This isn’t just theory. Coinbase CEO Brian Armstrong recently hinted his company might jump in. Then there’s Trump Media—the $2.3 billion firm tied to Donald Trump—which got SEC approval earlier this month to raise funds partly for Bitcoin purchases.
Saylor called the model “elegant” in its simplicity. A company issues debt or equity, uses the cash to buy Bitcoin, and—if the price rises—turns a quick profit. That profit lets it raise even more money, buy even more Bitcoin, and so on.
*”I’m just going to issue billions and billions of dollars of securities,”* Saylor said, *”and buy billions and billions of dollars of Bitcoin.”*
He thinks this could shift entire markets. Instead of valuing companies based on cash flows, investors might start looking at their Bitcoin holdings first.
The Speed Factor: Why Bitcoin Treasuries Are Different
Traditional businesses grow slowly. Real estate developments take years. Factories take even longer. But a Bitcoin treasury? *”You can grow literally as fast as you can issue the security and buy the Bitcoin,”* Saylor said.
That speed comes with risks, of course. Investors usually bet on a company’s future earnings, not just its ability to hoard an asset. And cash loses value over time, which adds another layer of uncertainty.
But Saylor’s argument is that Bitcoin changes the equation. If companies are valued based on their Bitcoin reserves rather than operations, old metrics might not apply anymore.
It’s a bold idea—maybe too bold for some. Then again, a few years ago, the whole concept of corporate Bitcoin treasuries seemed far-fetched. Now? They’re becoming hard to ignore.
