Michael Saylor said on CNBC that Strategy will keep buying Bitcoin for the foreseeable future — "Our company will probably buy all of the Bitcoin [that] gets produced by the miners between here and the year 2140. Then there's no more Bitcoin." He confirmed Strategy has already purchased more BTC this year than miners issued, framing that as evidence credit markets are absorbing the entire organic float rather than the supply hitting the open market.
The bullish posture lands into a market that several indicators suggest is mid-bottom rather than at the floor. Bitcoin transaction volume is plunging — a pattern that has historically preceded cycle lows by roughly a month once volume crosses into truly depressed territory. The Altcoin Daily host noted the market is now in the "apathy zone," the dull stretch where, historically, "literal millionaires are made." Mark Cuban told the channel he has sold most of his Bitcoin, arguing BTC failed as a dollar hedge when gold rallied to $5,000 and the dollar weakened — though he kept his Ethereum position.
Why it matters
The contradiction inside the tape is the story. Saylor is buying into a backdrop of macro headwinds, Cuban-style disillusionment, and a $1B-plus week of spot Bitcoin ETF outflows that has pulled cumulative net inflows back from the all-time high of roughly $62B. Yet the same session surfaced a separate bullish vector: Congressman Nick Beg introduced a bill to formally establish a strategic Bitcoin reserve funded by seized Iranian crypto — a Treasury haul a threat-detection firm has estimated at $7.7B. Nine members of Congress publicly backed the bill within a day of introduction. Iran itself has begun settling cargo-ship insurance in BTC for Strait of Hormuz transit, a geopolitical use case Saylor's camp is now framing as a quiet validation thesis.
Market impact
The flows on Deribit ahead of the May 29 expiry lean modestly bullish but skew downside risk. The May monthly settle carries roughly $6.25B in notional contracts, with the $75,000 put strike holding $394M in notional and the $80,000 call strike concentrating $532M. Max pain sits about $2,000 below current price, meaning dealer hedging could pull BTC toward $75,000 into settlement even with a put/call ratio of 0.86 implying mild upside. Solana and XRP ETFs are seeing daily trickle-inflows even as spot BTC funds bleed.
Frequently asked questions
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What did Michael Saylor say about Bitcoin on CNBC?
Saylor said Strategy will likely buy all Bitcoin produced by miners through the year 2140, when issuance ends, and confirmed the firm has already purchased more BTC this year than miners issued.
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Why is Bitcoin transaction volume dropping a bullish signal for bottoms?
Historically, when BTC on-chain transaction volume crosses into truly depressed territory it has pinned the cycle bottom within about a month — current volume is plunging but the host argued the market is still in the bottoming process, not at the confirmed floor.
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What did Mark Cuban say about Bitcoin?
Cuban told the channel he sold most of his Bitcoin, arguing BTC failed as a dollar hedge when gold rallied to roughly $5,000 and the dollar weakened, though he kept his Ethereum position.
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What is the Congressman Nick Beg Bitcoin reserve bill?
Rep. Beg introduced a bill to formally establish a US strategic Bitcoin reserve funded by seized Iranian crypto — estimated at $7.7B by a threat-detection firm — with 5% of all Bitcoin targeted, the equivalent of US gold reserves. Nine members publicly backed it within a day.
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What does the May 29 Deribit expiry setup look like?
Roughly $6.25B in notional contracts settle May 29 on Deribit, with the $75,000 put strike at $394M notional, the $80,000 call strike at $532M, a put/call ratio of 0.86, and max pain about $2,000 below current price.
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