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Michael Saylor believes Bitcoin could surpass gold in value within the next decade.
In an interview with Yahoo Finance, the Strategy founder said he expects Bitcoin’s total market capitalization to exceed that of gold by 2035. His comments came in response to a viewer question about whether Bitcoin can realistically close the valuation gap with the precious metal.
Saylor responded with little hesitation. In his view, Bitcoin is already on a path toward becoming a larger asset class than gold, and the transition is well underway.
Key Points
- Saylor expects Bitcoin’s market capitalization to exceed gold by 2035.
- He argues Bitcoin’s fixed 21 million supply underpins its long-term valuation thesis.
- Bitcoin would need to rise roughly 2,649% to match gold’s current market cap of $36 trillion.
- Strategy is approaching its 100th Bitcoin purchase and has accumulated 717,131 $BTC since 2020.
- Despite an unrealized loss at current prices, the company continues its aggressive accumulation strategy.
Supply Dynamics and the 2035 Milestone
Central to Saylor’s thesis is Bitcoin’s fixed supply. He described the current period as a modern rush toward scarce digital assets, arguing that Bitcoin’s issuance mechanics will play a decisive role in its long-term valuation.
According to his timeline, roughly 99% of all Bitcoin will have been mined by 2035, which he calls the “0.99” stage of the issuance cycle. Afterwards, the remaining 1% would be released gradually over the following century.
That structure, Saylor suggested, creates built-in urgency. Investors seeking meaningful exposure may feel increasing pressure to accumulate before the supply curve flattens further.
The Market Cap Gap With Gold
Nevertheless, despite his conviction, the scale of the challenge is substantial.
At the time of writing, Bitcoin’s market capitalization stands at approximately $1.31 trillion, compared with more than $36 trillion for the global gold market. Therefore, based on those figures, Bitcoin would need to rise about 2,649% to match gold’s current valuation — and that assumes only modest growth in gold prices through 2035.
The comparison underscores the magnitude of expansion required for Saylor’s projection to materialize. Notably, at a market cap of $36 trillion, 1 $BTC will be worth over $1.8 million.
Strategy Nears 100th Bitcoin Purchase
Saylor’s remarks coincide with a potential milestone for the company. In a recent post on X, he wrote, “The Orange Century,” a phrase widely interpreted as signaling another Bitcoin acquisition.
According to the company’s website, Strategy has completed 99 Bitcoin purchases since 2020. Its next disclosed transaction would mark the 100th.
The Orange Century. pic.twitter.com/8zelTduTPC
— Michael Saylor (@saylor) February 22, 2026
The firm typically announces its weekly purchases on Mondays. Notably, it has continued accumulating despite challenging market conditions in 2026, adding Bitcoin for 12 consecutive weeks. Another purchase would extend that streak to 13.
Strategy currently holds 717,131 $BTC, with an average purchase price of $76,027 per coin.
With Bitcoin trading near $65,863 at the time of writing, the company’s position is below its average cost basis and is currently at an unrealized loss. Even so, Strategy has shown no indication that it intends to slow its accumulation strategy.
From Skeptic to Largest Public Holder
Strategy (formerly MicroStrategy) first entered the Bitcoin market in August 2020 with a $250 million purchase, led by Saylor, who had previously expressed skepticism about the asset.
At the time, the company framed Bitcoin as a hedge against inflation and a tool to protect treasury reserves while strengthening long-term shareholder value.
Nearly six years later, Strategy has become the largest publicly traded holder of Bitcoin. Its aggressive treasury strategy has influenced other corporations to consider similar digital asset allocations.
According to Yahoo Finance data, the firm’s stock has increased roughly 950% since its first Bitcoin purchase. Specifically, shares have risen from about $12.44 in 2020 to approximately $131.05 at the time of writing.