Bitcoin appreciates ~30% per year for next 20 years
Saylor projects Bitcoin will appreciate approximately 30% per year for the next 20 years before slowing to around 20% annually.
Snapshot · The Diary Of A CEO with Steven Bartlett
Top Bitcoin Holder: Ask AI To Do THIS, Stop Trying To Out-Work The Robots! | Michael Saylor
Explore episode
Aug 6, 2026
Where this was said
Why Saylor Sold Bitcoin — and Why Bitcoin Could Drop to $5K and He'd Still Be Fine
At 1:17:30 · chapter starts 1:15:00
The question Bartlett's audience most wanted answered was why Saylor sold Bitcoin after years of 'sell a kidney, but keep the Bitcoin' advocacy. Saylor's explanation is a masterclass in market psychology management. Short sellers had built a narrative: MicroStrategy owns 4% of all Bitcoin, can never sell without crashing prices, and therefore its $55 billion of assets are worthless and the company is in a doom loop. To break that narrative, you cannot argue against it — you have to demonstrate it is false. So Saylor sold a small quantity at $59,000, the Bitcoin price traded up rather than crashing, and the company proved it could fund its preferred dividends from Bitcoin sales alone without needing to dilute equity. He notes the break-even point is only 3.2% annual Bitcoin appreciation. Even a catastrophic crash to $5,000 per coin would leave the company overcollateralized against its $6.5 billion of convertible debt.
MicroStrategy holds 847,000 Bitcoin
MicroStrategy holds 847,000 Bitcoin, making it the largest corporate holder of Bitcoin after Satoshi's unmoved coins.
Why Saylor Sold Bitcoin — and Why It Was Strategic
Short sellers argued MicroStrategy could never sell Bitcoin without crashing the price to zero. So Saylor sold a small amount at $59,000 — it traded up, the narrative was broken, and the company proved it could fund dividends from Bitcoin alone without diluting equity.
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