Saylor’s bitcoin buying strategy is ‘exploding’ globally, but Wall Street is skeptical

Las Vegas – Following Strategy’s successful bitcoin treasury move that boosted its market cap past $80 billion, meme stock companies, media firms, and multinational conglomerates are now imitating the strategy. However, Wall Street remains skeptical of the trend.

This week, Trump Media announced plans to raise $2.5 billion to purchase bitcoin, and GameStop revealed a $500 million allocation for the same. Additionally, Tether, SoftBank, and Strike’s Jack Mallers introduced Twenty One, a bitcoin-focused public company set to launch with more than 42,000 bitcoins on its balance sheet, making it the third-largest corporate holder of bitcoin globally.

Despite these moves, the market does not view these companies as the next Strategy. Trump Media shares have dropped over 20% post-announcement, while GameStop is down nearly 17%. Strategy, previously known as MicroStrategy, has seen a significant increase since the end of 2022, accumulating a bitcoin stake valued at over $60 billion.

Strategy Chairman Michael Saylor, speaking at Bitcoin 2025 in Las Vegas, mentioned that perhaps the market expected these companies to acquire more bitcoin in the short term. Nonetheless, he emphasized that having bitcoin on the balance sheet has shown long-term popularity.

Saylor praised Trump Media’s move as “courageous, aggressive, and intelligent,” indicating a global shift in corporate finance with numerous similar announcements worldwide.

Under the Biden administration, corporate bitcoin adoption faced regulatory challenges, but the tone shifted under President Donald Trump. In March, Trump signed an executive order establishing a U.S. Strategic Bitcoin Reserve, funded through bitcoin seized in criminal cases, with a ban on selling any bitcoin from the reserve.

Vice President JD Vance addressed the bitcoin community, promoting crypto as a hedge against inflation and censorship. The Department of Labor also eased restrictions on bitcoin investments in retirement plans.

While some corporations like Microsoft have resisted adopting bitcoin, Saylor believes the market’s lukewarm response to Trump Media and GameStop is due more to financing dynamics than skepticism towards bitcoin itself.

Saylor continues to be bullish on bitcoin, with Strategy being the largest corporate holder of the cryptocurrency. He anticipates ongoing bitcoin accumulation and price appreciation.

He argues that more actors embracing bitcoin will strengthen its network, making it more robust and trustworthy for larger economic entities.