Bitcoin Maximalism Hits Wall Street: Saylor Says JPM and Berkshire Will Buy at $1M
Michael Saylor dares JP Morgan and Berkshire to fully adopt Bitcoin or risk entering too late and overpriced.Strategy issues Bitcoin-tied preferred stocks with lower volatility, offering exposure without full asset conversion from traditional finance models.Michael Saylor, issued a direct challenge to Wall Street institutions, urging financial giants like JP Morgan Chase and Berkshire Hathaway to enter the Bitcoin market. His statements, made during a Bloomberg Crypto interview on June 10, reflect a clear confidence in his firm’s approach and its long-term stance on digital assets.
Strategy offers three types of preferred stock — STRK, STRF, and STRD. These financial instruments are tied to Bitcoin’s price movements but show reduced volatility. According to Saylor, these assets are among the most liquid in the world.
He argues that their performance is based on direct exposure to Bitcoin, which he states is possible only because Strategy is fully committed to the cryptocurrency.
Saylor pointed out that converting a company’s balance sheet to Bitcoin is not a minor adjustment. He claimed that without such a transition, firms cannot replicate Strategy’s offering of Bitcoin-backed convertible or fixed preferred shares. He implied that JP Morgan or Berkshire Hathaway would need to transform their entire financial infrastructure to compete on equal terms.
“I welcome the competition from JP Morgan” Saylor said, underscoring his view that the firm’s position is secure. He further commented that although he hopes these firms do invest in Bitcoin eventually, by the time they act, market conditions will have changed drastically.
“The price will go to the moon” he added, suggesting that future entry could come at valuations exceeding $1 million per Bitcoin.Saylor responded to past criticism of Bitcoin by JP Morgan CEO Jamie Dimon and Berkshire Hathaway chairman Warren Buffett.
