A article to understand Michael Saylor once again calls on Microsoft to buy Bitcoin: U.S. bonds and stock repurchase rate is too low

Michael Saylor, founder of Strategy, a micro-strategy, a leading micro-strategy among US listed companies, recently strongly called on tech giant Microsoft to adjust its capital allocation strategy and boldly embrace Bitcoin (BTC) at its annual meeting Strategy World 2025.

Saylor pushes Bitcoin’s advantages and challenges traditional strategies

He believes that these traditional strategies are inefficient and may damage shareholder value and weaken firm resilience in the long run.

He cited data to emphasize his argument, pointing out that Bitcoin’s average annual return in the past five years was as high as 53%, with a total increase of more than 950%, far exceeding Microsoft’s annual return of about 6% and 148% in the same period, and better than investment-grade bonds that may produce negative real returns in an inflation environment.

Saylor uses strong words, saying that investing in Bitcoin is "10 times better than buying your own stock", saying "bonds are toxic", and warns that stock buybacks "destroy 97% of capital in 10 years."

Saylor firmly believes that in this era of digitalization sweeping, Bitcoin is not only an excellent asset class, but also a key "digital capital" that drives corporate value growth while reducing risks. Note: Just at the end of 2024, the Microsoft shareholders' meeting rejected a proposal to invest in Bitcoin.

Microsoft's considerations and future prospects

The background of Saylor's efforts to lobby was that Microsoft shareholders had rejected a proposal proposed by the National Center for Public Policy Research to allocate some cash and securities to Bitcoin in December 2024. It shows that at the large enterprise level, there are still significant challenges in incorporating Bitcoin into its balance sheet, including the inherent high volatility of Bitcoin, ongoing regulatory uncertainty, and strict investment strategy restrictions within many large enterprises.

This debate on "digital capital" and its impact on the future of corporate finance still need to be observed continuously. However, after the recent increase in MicroStrategy, the company's total Bitcoin holdings have reached 555,450 pieces, with a total purchase cost of US$38.08 billion and an average purchase price of US$68,550.

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