Amidst the escalating geopolitical tensions between Israel and Iran, Michael Saylor, the Bitcoin evangelist and chairman of Strategy (formerly MicroStrategy), has hinted at a potential upcoming Bitcoin purchase. This signal comes at a time when the crypto market is experiencing volatility due to the conflict, but also demonstrating resilience.
The recent flare-up in the Middle East, marked by Israeli strikes on Iranian nuclear and military sites and retaliatory actions from Iran, sent ripples through global markets. Bitcoin, along with other cryptocurrencies, initially experienced a sharp decline. Reports indicate that Bitcoin fell to around $103,000 following the news of the Israeli strikes. However, it demonstrated a quick recovery, stabilizing around the $105,000 - $106,000 mark, suggesting a degree of resilience in the face of geopolitical uncertainty.
Saylor's bullish stance on Bitcoin has been unwavering. He has consistently advocated for its adoption as a treasury reserve asset, and Strategy has become the largest corporate holder of Bitcoin. As of June 9, 2025, MicroStrategy holds 582,000 bitcoins with an average purchase price of $66,384.56, with a total cost of $33.139 billion USD. This strategy involves using proceeds from equity and debt financings, as well as operational cash flows, to strategically accumulate Bitcoin.
His perspective is rooted in the belief that Bitcoin is a superior asset in the long term, capable of acting as a hedge against inflation and economic instability. He views Bitcoin as digital capital, and his company's treasury strategy is designed to provide investors with exposure to Bitcoin through a range of securities. Saylor has even dismissed claims that Bitcoin is a Ponzi scheme, comparing it to Manhattan real estate, where developers continuously invest in new projects despite high land costs.
The potential for another Bitcoin purchase by Strategy during this period of geopolitical tension highlights Saylor's conviction in the asset's ability to withstand and even benefit from global uncertainty. Some analysts suggest that Bitcoin's long-term value could increase as governments seek neutral digital rails for settlement amidst escalating geopolitical tensions. This perspective aligns with the idea of Bitcoin as a safe haven asset, similar to gold, during times of crisis.
However, it is important to note that Strategy's Bitcoin acquisition strategy has faced criticism. Some investors have questioned the risks associated with funding these purchases through debt and equity issuance. Despite these concerns, the company's stock has generally performed well, reflecting investor confidence in its Bitcoin-focused strategy.
The broader market context also plays a significant role. While geopolitical tensions often lead to an initial flight to traditional safe-haven assets like gold, Bitcoin has shown a tendency to recover and outperform in the long run. This pattern suggests that investors are increasingly recognizing Bitcoin's potential as a store of value and a hedge against economic and political risks.
