Michael Saylor, CEO of Strategy, recently stated on the X platform that Bitcoin (BTC) can be viewed as a form of 'digital capital' and a potential new global reserve asset. He argues that Bitcoin combines the qualities of traditional assets: scarcity, portability, divisibility, global liquidity, independent verification, and the ability to transfer ownership rights without a central issuer. Saylor asserts that investors should view Bitcoin not only as a payment network but also as a store of wealth and a hedge against loss of purchasing power. However, he does not claim that Bitcoin should replace the dollar, banks, or traditional financial markets.
According to Saylor, Bitcoin could capture part of the monetary premium currently held by gold, real estate, stocks, bonds, and collectible assets. In a previous report, he characterized Bitcoin as 'digital monetary energy,' noting: 'Bitcoin is an engineering solution to the problem of money.'
Saylor also emphasized a four-year investment horizon based on historical Bitcoin return data. As of September 4, 2026, the median return was approximately +97.7% for one year, +272.2% for two years, +481.7% for three years, and +1,301.7% for four years. However, in the worst year, the price of Bitcoin fell by 83.6%, and even in the worst four-year period, it still provided a return of +32.6%. Saylor noted that the historical performance of BTC has been exceptional but accompanied by extreme volatility: 62.8% annualized over the last 10 years and 37.2% since August 2020, when the 'Bitcoin Standard Era' of Strategy began.
As of September 4, 2026, Bitcoin was 36.1% below its all-time high, and the maximum historical drawdown reached approximately 93.1%. Strategy sold 6,916 BTC in 2026, but the purchase of 4,603 BTC on August 31 indicates a return of momentum towards accumulation.
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