Bitcoin’s Calm Signals Strength, Says Michael Saylor

Bitcoin’s recent low volatility is a bullish signal, not a weakness, according to Strategy (MSTR) Executive Chairman Michael Saylor. Speaking on Natalie Brunell’s Coin Stories podcast, Saylor said the market is consolidating as long-term holders take profits and institutions prepare for larger allocations. “Zoom out and bitcoin is up 99% over the past year,” he noted, adding that declining volatility indicates maturity.

Saylor compared early adopters selling portions of their holdings to startup employees cashing out stock options — a natural step, not a loss of confidence. This transition, he argued, sets the stage for corporations and funds to enter as the asset stabilizes.

He dismissed concerns that bitcoin lacks cash flows, pointing out that assets like gold, land, and art also don’t produce income. “The perfect money has no cash flows,” Saylor said, predicting institutions will eventually adjust to bitcoin’s unique value proposition.

Beyond being a store of value, Saylor highlighted Strategy’s push to transform credit markets by using bitcoin as collateral. The firm is offering preferred-stock products — Strike, Strife, Stride, and Stretch — that provide yields up to 12% and are heavily over-collateralized. “We’re giving bitcoin cash flow,” he explained, framing it as a pathway for broader institutional adoption.

On why Strategy isn’t in the S&P 500 yet, Saylor said eligibility only came this year after accounting rule changes, noting Tesla also waited beyond its first eligible quarter. He expects eventual inclusion as markets embrace the bitcoin treasury model.

Looking ahead, Saylor predicted bitcoin will appreciate about 29% annually over the next 20 years, fueling new credit and equity innovations. He concluded optimistically: “Bitcoin is peaceful, fair, and equitable. As adoption grows, so will equity, fairness, and stability.”