Michael Saylor's Unusual Bitcoin Plan For The Afterlife: 'Making Everyone Richer And More Powerful'

Strategy MSTR Chairman Michael Saylor on Tuesday shared an unconventional plan for his Bitcoin BTC/USD fortune to enrich the crypto community.

What Happened: In an interview with CoinDesk, Saylor expressed that he intends to burn his stack of Bitcoin before he dies, ensuring no one inherits his wealth. Saylor cited the following reasons for his decision:

• Bitcoin as a $200 Trillion Asset Class: He envisions Bitcoin reaching a $200 trillion market cap by 2045 and sees the U.S. adoption of a strategic Bitcoin reserve as a major driver of global adoption.
• A Decentralized Charity: Instead of passing his Bitcoin to heirs or institutions, he wants to "leave all our money to the human race" by destroying his private keys.
• Satoshi's Vision: Saylor sees this act as true to Satoshi Nakamoto's principles of financial sovereignty and economic immortality.
• Burning His Keys = Making Others Richer: "No one should be able to steal your money… By burning my crypto keys, I make everyone in the network much richer and more powerful," he stated.

He concluded, "We’re all in this together—from now to eternity. That's my legacy."

Also Read: Would A Recession Be Bullish Or Bearish For Bitcoin?

Why It Matters: Strategy building up its Bitcoin stockpile is an indicator of rising adoption of cryptocurrencies in the traditional financial system.

According to Michael Saylor, Strategy "built an indestructible balance sheet. Bitcoin could trade down 99%. There's no margin call coming. The instruments that are constructed don’t have Bitcoin pledged as collateral."

Recently, Saylor estimated the U.S. strategic Bitcoin reserve's potential worth at anywhere between $3 trillion to $106 trillion over the next 20 years.

This is in contrast to GOP senator Cynthia Lummis (R-Wyo.) belief that the government could add $16 trillion in BTC over five years.

Bitcoin critic Peter Schiff recently commented that one of the primary driver of Bitcoin's demand is Michael Saylor's Bitcoin acquisition strategy.

Read Next:

• Bitcoin Tests Key Bull Market Support At $88,000: What Does Technical Analysis Say?

Image: Shutterstock