Saylor Doubles Down on Bitcoin as 'Digital Capital' Amidst Market Volatility
Michael Saylor, CEO of Strategy, has once again praised Bitcoin's long-term potential, calling it 'digital capital' and potentially a new global reserve asset. According to him, Bitcoin combines qualities found across traditional assets, scarcity, portability, divisibility, global liquidity, independent verification, and the ability to transfer ownership without a central issuer. This makes it an attractive store of wealth and potential hedge against the loss of purchasing power.
Saylor's investment thesis is not about replacing traditional financial markets or assets, but rather capturing a portion of the monetary premium held in gold, real estate, equities, bonds, and collectibles. He believes that Bitcoin can provide an engineering solution to the problem of money, as he previously mentioned.
In a recent report, Saylor analyzed Bitcoin's rolling historical returns from 4th September 2026, showing that median total returns were approximately +97.7% over one year, +272.2% over two years, +481.7% over three years, and +1,301.7% over four years. However, Bitcoin has also faced significant volatility, with a 62.8% annualized return over the past 10 years and a historical maximum drawdown of roughly 93.1%. The recent purchase of 4,603 BTC on 31st August suggests that the buying momentum is back.
Despite this, Bitcoin's price is currently stuck between strong long-term buying and short-term selling pressure, with investor sentiment shifting from FOMO to loss aversion. Spot Bitcoin ETFs saw three consecutive weeks of inflows, but weak spot demand and rising futures selling are adding pressure.