At the Bitcoin for Corporations 2025 conference, MicroStrategy’s Michael Saylor urged Microsoft to consider reallocating $75 billion into Bitcoin, projecting a significant upside compared to traditional treasury assets. He emphasised Bitcoin’s superior growth compared to Microsoft’s stock, highlighting the potential for major enterprise value if Microsoft shifted capital strategy. Saylor argued that the time for action is now, as Bitcoin represents a new era of monetary investment, suggesting companies risk falling behind if they hesitate.
At the Bitcoin for Corporations 2025 event, Michael Saylor, the executive chairman of MicroStrategy, urged Microsoft to invest $75 billion in Bitcoin. In a bold keynote, he suggested that Microsoft shift funds currently allocated for share buybacks and short-term Treasuries towards the cryptocurrency. Saylor called Bitcoin the “universal, perpetual, profitable merger partner,” asserting that it outshines all other treasury assets, especially given the rise of artificial intelligence.
Saylor emphasised the stark differences in performance, stating, “Microsoft is up 18% a year for the past five years. Bitcoin is up 62%.” He referenced the S&P 500’s growth rate of about 14%, using it as a yardstick for corporate capital allocation. He concluded that while Microsoft shows a 4% real out-performance, Bitcoin flaunts a staggering 48% growth, raising the question of why companies would hold assets that are depreciating capital.
He didn’t hold back his assessment of Microsoft’s current balance sheet. “Investing in bonds is effectively destroying 99.7% of your capital over a decade,” he asserted, while stock buybacks fare only slightly better, about 97% destruction. The implication was clear: buying Bitcoin could yield tenfold benefits compared to buying back shares. Saylor’s core belief is that Bitcoin marks the beginning of a new monetary era, likening this to the shift from gold to sovereign debt in past centuries.
Saylor referred to the year 2024 as a pivotal point—”year zero” for Bitcoin—when he believes institutional acceptance will take a leap through SEC-approved spot ETFs and new fair-value accounting rules from FASB. In his view, 2025 will become the first year for Bitcoin adoption; however, he cautioned that the opportunity for first-mover advantage is rapidly closing.
To clarify potential benefits, Saylor mentioned that his team had evaluated Microsoft using the open-source “Bitcoin 24” treasury modelling tool. They analysed four scenarios involving Bitcoin investments, highlighting that even moderate Bitcoin purchases could add between $155 to $584 per share—translating to one to five trillion dollars in enterprise value. He firmly urged Microsoft leaders to stop wasting capital that they have fought hard to build.
Saylor also connected treasury policy with the pressures faced within companies. He warned, “When you divest yourself of $200 billion, you amplify every risk factor in your own prospectus.” He argued that such massive financial strategies could burden employees and customers alike, bringing about risk that could easily be mitigated by investing in a non-correlated hard asset like Bitcoin.
He posed a thought experiment to Microsoft’s board, questioning, “If you could buy a hundred-billion-dollar company growing 60% annually at a single revenue multiple, would you do it?” Saylor argued that this is precisely what Bitcoin offers, highlighting the inconsistency in how consensus finance perceives such an investment.
In one of the more impassioned moments of his address, Saylor stressed that wealth is rooted in ownership of hard assets, stating, “Rich people are not rich because of a future expectation of cash flows; they’re rich because they own hard assets.” He called on Microsoft to choose between traditional capital approaches—like treasury bills or dividends—or to embrace change by investing in Bitcoin, which he says will support customers, employees, shareholders, and ultimately, the company’s legacy.
The proposed $75 billion investment reflects a play on Microsoft’s existing buybacks and future dividends presented as a singular investment in Bitcoin—an idea that was publicly opposed by Microsoft shareholders back in December. As of now, Bitcoin is trading at $96,521.
