Michael Saylor hints at another Bitcoin purchase for Strategy, while predicting BTC could hit $21 million in 21 years. Investor Jim Chanos criticizes Strategy’s debt approach amid the growing BTC holdings.
Author: Tanishq Bodh
June 23, 2025 – Michael Saylor, co-founder of Strategy (formerly MicroStrategy), has once again hinted that his firm may soon add more Bitcoin to its treasury. In a cryptic post on X this week, Saylor shared a Bitcoin performance chart with the caption, “Nothing Stops This Orange.” The timing follows a familiar pattern of signals that typically precede new Bitcoin purchase filings with the US Securities and Exchange Commission (SEC).
Strategy has aggressively expanded its Bitcoin holdings in recent months, positioning itself as the world’s largest corporate BTC holder. The firm’s Bitcoin reserves now stand at roughly 592,100 BTC, valued at over $60 billion, representing about 2.8 percent of Bitcoin’s total supply.
Beyond the potential for another major buy, Saylor doubled down on his long-term bullish view of Bitcoin. In another X post, he predicted that Bitcoin could reach $21 million per coin within 21 years.
“$21 million in 21 years,” Saylor wrote.
— Michael Saylor (@saylor)
$21 million in 21 years
While such projections spark optimism among Bitcoin supporters, they have also drawn renewed scrutiny from skeptics.
One of the firm’s most vocal critics is prominent investor Jim Chanos, known for his short bets on companies like Enron. Chanos has publicly challenged Strategy’s use of debt to fund its Bitcoin acquisitions.
In a recently circulated video clip, Saylor defended Strategy’s debt structure, describing it as “convertible, unsecured, and no recourse.” He argued that the firm’s position is sound and that Bitcoin’s long-term performance will justify the strategy.
Despite this, Chanos remains critical and is reportedly betting against the company. He maintains that the debt-fueled Bitcoin buying spree could backfire if the market turns.
Saylor’s June 22 post is the latest in a long-running series of subtle signals that often precede SEC filings for additional Bitcoin purchases. The firm has built a reputation for using such posts to generate community buzz before announcing new buys.
Given this history, market watchers now expect a potential filing or acquisition update in the near term.
| Date | Event / Action | Total BTC Holdings |
|---|---|---|
| August 11, 2020 | First Bitcoin purchase: 21,454 BTC for $250 million | 21,454 BTC |
| December 2020 | Multiple buys through Q4 2020 | ~70,470 BTC |
| End of 2021 | Steady accumulation | ~124,391 BTC |
| End of 2022 | Continued accumulation | ~132,500 BTC |
| End of 2023 | Further buys | ~189,150 BTC |
| October 27, 2024 | Crossed 400,000 BTC | >400,000 BTC |
| December 31, 2024 | Year-end holdings | 447,470 BTC |
| February 6, 2025 | +23,637 BTC purchased since Dec 31 | 471,107 BTC |
| March 24, 2025 | Bought 6,911 BTC | 506,137 BTC |
| March 31, 2025 | Bought 22,048 BTC (~$1.92B USD) | ~528,185 BTC (estimated) |
| April 14, 2025 | Bought 3,459 BTC | ~531,644 BTC |
| April 20, 2025 | Bought 9,653 BTC | 538,200 BTC |
| April 21, 2025 | Removed 6,556 BTC (adjustment) | 531,644 BTC |
| May 19, 2025 | Bought 7,390 BTC (~$764.9M at ~$103.5k BTC) | 576,230 BTC |
| May 26, 2025 | Bought 4,020 BTC via ATM stock sale | 580,250 BTC |
| June 16, 2025 | Latest reported total | 592,100 BTC |
Saylor’s latest hint and bold price target keep Strategy in the spotlight as Bitcoin’s most aggressive corporate buyer. But with growing debt concerns and public criticism from major investors like Chanos, the firm’s high-stakes strategy remains one of the most closely watched in the crypto space.
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