Strategy is steadfastly pushing toward holding 5% of the total circulating Bitcoin supply, but Canadian billionaire and prominent gold advocate Frank Giustra is publicly scoffing at the milestone.
The mining financier and frequent cryptocurrency skeptic is clearly not buying into the hype surrounding Executive Chairman Saylor’s extremely bold corporate acquisition strategy.
He has questioned whether the arbitrary milestone of one million Bitcoin actually matters.
"So what?"
Market commentator Adam Livingston recently pointed out that the firm currently holds 818,334 BTC as of late April. In order to reach the much-coveted one-million mark, the company would have to accumulate 181,666 coins, which is relatively insignificant.
If MicroStrategy maintains a purchasing pace of roughly 45,416 BTC per month, it will cross what Livingston dubbed the "psychological Rubicon" by August 2026.
"Still don’t get the hype as to why Saylor getting to 5% of Bitcoin means anything," the Canadian billionaire, who is clearly unimpressed, responded to Livingston's post. "So what? The world suddenly wakes up and decides he must know something we don’t know? lol"
The billionaire has consistently framed the MicroStrategy executive as a hype man reliant on endless market euphoria.
The Canadian mining magnate has been particularly critical of Saylor’s increasingly astronomical Bitcoin price targets. "From a prediction of $500,000 in 2020, to $1mill the following year, to $13 mill in 2024… big jump to $49 mill," Giustra noted earlier this year. "This guy knows no limits when trying to tap into the 'greed' factor. Creating this kind of FOMO is what Saylor does best and the only way to keep the buying interest going."
Dan Burgin
U.Today Editorial Team
