Michael Saylor's unwavering Bitcoin strategy amidst US-Iran tensions and Texas's strategic Bitcoin reserve.

Bitcoin, Michael Saylor, and the US-Iran Conflict: A New York Minute

In a world where geopolitical tensions and crypto collide, the saga of Bitcoin, Michael Saylor, and the US-Iran conflict unfolds. Saylor, ever the Bitcoin bull, doubles down even as global events send ripples through the market. Let's dive in.

Saylor's Steadfast Bitcoin Bet

Michael Saylor, the outspoken founder of Strategy, is signaling another Bitcoin purchase, unfazed by the brewing US-Iran crisis. His recent activity on X, sharing the MicroStrategy portfolio tracker, is a tell-tale sign. Market watchers anticipate a fresh BTC buy, continuing a ten-week buying spree. Strategy currently holds 592,100 BTC, worth a staggering $60.85 billion. A purchase of 7,900 BTC will push their holdings past 600,000.

Despite the crypto market crashing after US airstrikes in Iran, sending Bitcoin briefly below $101K, Saylor remains bullish. He famously predicted Bitcoin to reach $21 million by 2046. Talk about playing the long game!

Texas Goes Big on Bitcoin

Meanwhile, Texas Governor Greg Abbott has signed Senate Bill 21, authorizing the creation of the Texas Strategic Bitcoin Reserve. This state-managed fund will hold Bitcoin as a long-term financial asset, operating independently of the state’s general treasury. Only assets with a market cap exceeding $500 billion are eligible, making Bitcoin the prime candidate.

Texas joins Arizona and New Hampshire in approving Bitcoin reserve laws, but it's the first to commit public funds and establish a separate structure for Bitcoin holdings. This move highlights the growing acceptance of Bitcoin as a legitimate treasury asset.

MSTR's Premium: Justified?

Blockstream CEO Adam Back argues that Strategy's (MSTR) stock premium is reasonable, given how quickly the firm doubles its Bitcoin per share. He notes that MSTR has traded at a 2x multiple