Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), just doubled down on the most ambitious Bitcoin prediction in the game. Speaking in a recent CNBC interview, Saylor said he is confident Bitcoin will average 30% annual returns for the next 20 years, which will take BTC from its current price to $13 million per coin by 2045.
He is not just talking. Strategy is about to raise close to $1 billion through a new IPO of 10% yield preferred stock — with one main purpose: buy more Bitcoin.
But Saylor says this is not just another round of leverage. The real innovation lies in the structure. These are perpetual preferreds — capital that never matures, eliminating refinance risk.
“We’re offering fixed USD yield and converting it into BTC performance,” Saylor said. “It’s a low-risk, scalable way to create a long-duration balance sheet backed by Bitcoin.”
Strategy doing digits
The numbers back him up — according to Saylor, Strategy’s recent preferred issuances are outperforming the broader market, with returns up to 29%, while most other preferreds are flat or down.
Beyond fundraising, he is bullish on the bigger picture. In his view, regulatory clarity, institutional recognition, new accounting rules and ETF demand have finally aligned to support long-term Bitcoin adoption.
With only 450 BTC mined per day — worth around $45 million — and all of it being snapped up by ETFs and treasuries, he sees supply getting squeezed hard.
What about transparency? After criticism for resisting on-chain proof-of-reserves, Saylor points out that Strategy’s Bitcoin holdings are already audited by KPMG — and they are exploring more advanced methods like zero-knowledge proofs that do not expose custodial risk.
