- Samson Mow says Bitcoin at $4.2M could push Michael Saylor above Elon Musk in wealth rankings.
- Schiff says investor demand is shifting toward Strategy’s STRC preferred stock due to its 11.5% yield.
- Michael Saylor said Strategy may use Bitcoin sales to support future dividend payments.
Michael Saylor’s long-term Bitcoin strategy came back into focus following comments from Bitcoin advocate Samson Mow, linking BTC holdings to billionaire wealth rankings. The discussion also highlighted the ongoing debate around Strategy’s dividend model and its Bitcoin-backed preferred stock structure.
Mow stated on X that if Bitcoin reached about $4.2 million per coin, Michael Saylor could surpass Elon Musk as the world’s richest person based on his estimated Bitcoin exposure. According to Mow, Saylor’s exposure includes around 17,732 BTC held personally and indirect exposure to Strategy’s 818,869 BTC treasury through his ownership stake in the company.
Mow estimated that Saylor’s actual exposure totals approximately 98,800 BTC. Based on this, Bitcoin would need a valuation of roughly $850 billion to surpass Elon Musk’s reported $839 billion net worth. He added that the required Bitcoin price could be lower when factoring in Strategy’s market premium.
Strategy Dividend Model Draws New Attention
The discussion followed news activity surrounding Strategy’s STRC preferred stock product. Digital asset platform Apyx reported acquiring an additional 400,000 STRC shares, bringing its holdings to approximately $180 million.
Following the purchase disclosure, gold advocate Peter Schiff argued that investor demand was shifting from Bitcoin to STRC due to the preferred stock’s reported 11.5% yield. Schiff stated that capital flowing into STRC allows Strategy to continue purchasing additional Bitcoin while also increasing the company’s dividend obligations.
He further noted that Strategy would need to continue paying the annual yield attached to the preferred stock while using proceeds from those offerings to expand its Bitcoin holdings.
Mow Defends Flexibility Around Bitcoin Sales
The renewed debate followed earlier remarks by Saylor during Strategy’s first-quarter earnings call, in which he said the company could sell Bitcoin in the future to support dividend payments.
According to Saylor, the company may sell some Bitcoin “to inoculate the market” and show that dividends could be funded through BTC sales if necessary. He also stated that if Bitcoin appreciates by more than 2.3% annually, Strategy could continue funding dividends indefinitely without issuing additional common stock.
Mow defended the position, arguing that maintaining the ability to sell, hedge, issue securities, or buy additional Bitcoin strengthens Strategy’s flexibility in public markets. He stated that limiting the company to one public strategy could create opportunities for short sellers and arbitrage-focused traders.
Related: Strategy Says It May Sell Bitcoin to Fund Dividends
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