Currently, more than three percent of all Bitcoin ever mined sits in the treasury of Strategy, the leading BTC-holding firm. Following the latest purchase, the company controls 632,457 BTC worth about $71 billion, placing Saylor firmly on track toward his ambitious goal of holding a full Nakamoto—equivalent to one million BTC.

Still, not all investors are pleased. Some MSTR shareholders recently voiced concern after the company scrapped a protection clause that previously restricted share issuance below 2.5 times net asset value (mNAV). Critics argue this move could dilute shareholder value by reducing the number of BTC indirectly held per share.

MSTR share price performance in the monthly chart
MSTR share price performance in the monthly chart I Graphic: investing.com 

While Saylor defended the change as necessary to “gain greater flexibility in executing our capital markets strategy,” many investors remain cautious. Indeed, the market responded negatively: MSTR stock is currently trading around $342, down about 15% from the prior month. Despite the backlash, Strategy wasted no time selling an additional 875,301 shares under its At-the-Market (ATM) program, raising $309 million. At current Bitcoin prices (~$113,000), this could buy about 2,700 BTC.

Bitcoin Forecast: 30% Annual Returns for 20 Years

Beyond the corporate controversy, Saylor delivered a highly bullish forecast for Bitcoin investors. With 116 companies worldwide now accumulating BTC, he declared:

“My 20-year forecast for Bitcoin is 30 percent annual returns.”

Historically, Bitcoin delivered more than 50% average yearly returns over the past five years. Extrapolating Saylor’s prediction, BTC would soar to an extraordinary $21.47 million per coin by 2045. This aligns with projections he first presented at BTCPrague in June, where he argued that Bitcoin adoption by governments, banks, corporations, and investors is happening “faster and more aggressively than anyone expected.”

For Saylor, it’s never too late to invest:

“Bitcoin is technology. Just as it’s never too late to use fire, electricity, or the internet, it’s never too late for Bitcoin.”

Volatility Along the Way

Even the most optimistic investors should remain realistic. Bitcoin’s growth path is far from linear. Achieving a 30% average return could involve large swings: +40% one year, –20% the next, then +96% the year after. For this reason, Saylor emphasizes that long-term holding (“HODLing”) requires conviction and nerves of steel:

“Don’t focus on what’s happening now—keep your eyes on the horizon.”