The presentation to Microsoft, one of the world’s most influential technology companies, aims to align Bitcoin’s promise with Microsoft’s innovative legacy and financial strategy. Today, Michael Saylor published the video and slides of his presentation.

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Background on Michael Saylor and Bitcoin Advocacy

Michael Saylor’s advocacy for Bitcoin began with a bold pivot at MicroStrategy in 2020, during which the company restructured its treasury strategy to acquire and hold Bitcoin as a primary reserve asset. Saylor’s move was driven by his belief that Bitcoin is a transformative technology akin to the internet, representing a shift in the fundamental structure of value storage and transfer. By December 2024, MicroStrategy had accumulated billions of dollars worth of Bitcoin, weathering the volatility of the market to emerge as a symbol of corporate belief in Bitcoin’s long-term value.

Saylor’s core thesis revolves around Bitcoin as “Digital Gold,” a modern equivalent of the world’s most trusted store of value but with superior characteristics. Unlike traditional assets, Bitcoin is decentralized, finite (capped at 21 million coins), and immune to inflationary pressures from monetary policy. Saylor consistently argues that Bitcoin is not just an asset class but a technological innovation that secures value in an increasingly digital and uncertain world.

Key Themes of Saylor’s Presentation to Microsoft

Saylor’s pitch to Microsoft was a meticulously crafted argument focusing on Bitcoin’s strategic relevance for the company and its shareholders. His presentation can be broken down into several core themes:

1. Bitcoin as the Apex of Technological Waves

Saylor framed Bitcoin as the latest evolution in a series of groundbreaking technological transformations:

1980s: The rise of personal computing (e.g., Microsoft’s foundational success with Windows). 1990s: The advent of the internet as a universal communication medium. 2000s and beyond: The proliferation of mobile computing and cloud services. 2020s: The era of “Digital Capital,” led by Bitcoin.

This positioning resonated with Microsoft’s history of leveraging transformative technologies to build dominant market positions. By emphasizing Bitcoin as the next great innovation, Saylor aligned its adoption with Microsoft’s role as a tech pioneer.

Source: Michael Saylor

2. The Rise of Digital Capital

Saylor presented Bitcoin as the world’s first and most robust form of digital capital. With a market capitalization surpassing $2 trillion in 2024, Bitcoin had become the seventh-largest asset globally, trailing only giants like gold, Apple, and Microsoft itself. He argued that Bitcoin’s exponential growth, bolstered by increasing institutional adoption, marks a once-in-a-generation financial and technological paradigm shift.

Saylor’s claim was clear: failing to adopt Bitcoin would risk falling behind as the world transitions from traditional assets to digital capital. He predicted Bitcoin could grow to a $200 trillion market within the next two decades, driven by:

Institutional adoption. The financialization of Bitcoin (e.g., ETFs, derivatives). Growing recognition of Bitcoin as the ultimate store of value.

Source: Michael Saylor

3. Bitcoin vs. Traditional Assets

A key component of the presentation was Saylor’s critique of traditional assets used for capital preservation:

Gold: Susceptible to inflationary pressures and outperformed by Bitcoin over the past decade. Real Estate: Illiquid, location-dependent, and vulnerable to regulatory risk. Fiat and Bonds: Eroded by inflation and offering diminishing real returns.

Saylor argued that Bitcoin is superior because it:

Is inherently scarce (21 million supply cap). Operates on an open, secure, and transparent blockchain network. Is globally transferable, programmable, and immune to physical seizure or geographic risks.

This argument sought to frame Bitcoin as a revolutionary advancement that solves the flaws inherent in legacy assets.

Source: Michael Saylor

4. Strategic Value for Microsoft

Saylor tailored his argument specifically to Microsoft’s strategic goals. He presented data to show how Bitcoin adoption had bolstered MicroStrategy’s financial performance and market position:

Bitcoin’s performance since MicroStrategy’s first acquisition in 2020 had vastly outpaced major asset classes and tech stocks, including Microsoft shares. He pointed out that companies holding Bitcoin had seen increased trading volumes and investor interest, enhancing shareholder value.

For Microsoft, he suggested:

Allocating a portion of its substantial cash reserves to Bitcoin to diversify and hedge against inflation. Using Bitcoin as a tool to engage younger, tech-savvy shareholders who view it as the currency of the future. Enhancing Microsoft’s branding as an innovator at the forefront of transformative technologies.

Source: Michael Saylor

5. Robust Bitcoin Fundamentals

Saylor provided an in-depth analysis of Bitcoin’s resilience and security:

Hash Rate: Bitcoin’s computing power had reached unprecedented levels, making it the most secure decentralized network in the world. Institutional Adoption: Major players like BlackRock, Fidelity, and sovereign wealth funds were integrating Bitcoin into their portfolios. Regulatory Momentum: Governments worldwide were increasingly recognizing Bitcoin’s legitimacy, with favorable policies emerging in major markets.

Saylor emphasized that these fundamentals make Bitcoin an asset with unprecedented durability and growth potential.

Saylor’s presentation to Microsoft was not merely a financial pitch but a visionary argument for embracing a foundational shift in how value is stored and transferred in the digital age. By framing Bitcoin as both a hedge against macroeconomic risks and a driver of innovation, Saylor appealed to Microsoft’s dual identities as a financial powerhouse and a tech trailblazer.

Strengths Alignment with Microsoft’s Legacy: Saylor effectively tied Bitcoin to Microsoft’s history of adopting transformative technologies. Compelling Data: His presentation included robust data on Bitcoin’s growth and performance relative to traditional assets and equities. Visionary Framing: By positioning Bitcoin as “Digital Capital,” Saylor captured its broader implications beyond just financial returns.

 

Source: Michael Saylor

Microsoft’s annual shareholders meeting is this Tuesday December 10 at 11:30am New York time. You can watch here