Michael Saylor Plans to “Burn the Keys” on His Bitcoin Holdings

• MicroStrategy adds 1,070 BTC at $94,000, total holdings now 447,470 BTC worth $44.3B.
• Plans $2B stock offering, raising $42B by 2027, with $17.9B boost from fair-value accounting.
• Saylor has pledged to burn all his Bitcoin keys after his death in a recent interview.

Michael Saylor has revealed a commitment to Bitcoin’s future, announcing his intention to “burn the keys” to his Bitcoin holdings upon his death. This will effectively remove them permanently from circulation. This announcement comes as MicroStrategy continues its aggressive Bitcoin acquisition strategy, recently adding 1,070 BTC at approximately $94,000 per coin.

In a recent FOX interview, Saylor explained his decision as a “pro rata contribution” to all Bitcoin holders worldwide. “If you accumulate a lot of wealth in Bitcoin and you just burn the keys when you leave, you’re making a pro rata contribution to everybody that owns Bitcoin in the world based upon their contribution and their knowledge of Bitcoin,” Saylor explained.

The MicroStrategy chairman drew a parallel between his role and ancient mythology, comparing his mission to that of Prometheus, who brought fire to humanity. Saylor sees himself as having “taken the torch from Satoshi,” working to commercialize Bitcoin with corporations and governments in the decades following Bitcoin’s creation.

The company’s financial move goes beyond simple purchases. MicroStrategy announced plans to raise up to $2 billion through perpetual preferred stock offerings in the first quarter. This was a part of a broader strategy to raise $42 billion through 2027. The latest SEC filing also shows that MicroStrategy will report approximately $1 billion in impairment losses for the fourth quarter. However, with the transition to fair-value accounting for crypto holdings, the company’s Bitcoin balance sheet value will increase by $17.9 billion to nearly $24 billion at the start of 2025.

Institutional interest in MicroStrategy’s financial instruments continues to grow, with hedge funds particularly active in convertible arbitrage strategies. These funds purchase bonds while short-selling shares, effectively betting on the stock’s volatility. 

Despite the company’s underlying software business showing net losses in three of the past four quarters, MicroStrategy’s stock was up 11% to $379. While this remains below its November 20 record high of $473.83, the company’s performance continues to closely track Bitcoin’s price movements. At press time, Bitcoin has surged past the $100,000 level and has shot up from a 24-hour low of $98,600 to as high as $102,000.