Michael Saylor, co-founder of Bitcoin treasury firm Strategy, said on Friday that the company could own up to 7% of Bitcoin's total supply of 21 million.
Speaking in an interview with CNBC, Saylor stated that this amount is potential, but that the company is not aiming to acquire all of Bitcoin.
“I don't think we can get it all,” Saylor said. “The 3% to 5% or 3% to 7% range isn't very much. But we don't want to get it all; we want everyone to have a share.”
Strategy, formerly known as MicroStrategy and currently traded on Nasdaq, owns just over 3% of the 19.9 million Bitcoins currently in circulation, or 628,791 BTC. This amount is currently worth approximately $72 billion at the current price of $114,692. The total supply of Bitcoin is capped at 21 million, with the last BTC expected to be minted in 2140.
Buying 1.47 million BTC, equivalent to 7% of the total supply, would mean an investment of approximately $169 billion at current prices.
Saylor stated during yesterday's second-quarter earnings call that even if the Bitcoin price drops by 80% to 90%, the company will be able to weather the downturn without selling its BTC holdings.
*This is not investment advice.