Michael Saylor pitches Bitcoin as the foundation of ‘digital capitalism’ at BTC Prague 2026

Michael Saylor has never been accused of thinking small about Bitcoin. At BTC Prague 2026, he made sure that reputation stayed intact.

During his keynote titled “Bitcoin Capitalism” on June 12, Strategy’s Founder and Executive Chairman argued that Bitcoin isn’t just digital gold or a store of value. It’s digital capital, the foundational layer upon which an entirely new class of financial products will be built. And if he’s right about the scale of that transformation, he thinks Bitcoin could eventually reach $7 million per coin.

The four pillars of Bitcoin capitalism

Saylor’s thesis at the Prague conference centered on Bitcoin as the base layer for what he described as four categories of digital financial instruments: digital credit, digital money, digital yield, and digital equity.

Think of it like this. If Bitcoin is the bedrock, then these four categories are the buildings you construct on top of it. Digital credit means Bitcoin-backed lending products. Digital money refers to stablecoins and transactional instruments anchored to Bitcoin’s network. Digital yield covers interest-bearing products denominated in or collateralized by Bitcoin. And digital equity points toward tokenized ownership structures built on a Bitcoin standard.

This isn’t entirely new territory for Saylor, who has been evangelizing Bitcoin’s role as a treasury asset since Strategy first bought Bitcoin back in 2020. But the Prague keynote represented an evolution of that argument, from “Bitcoin is better than cash” to “Bitcoin is the operating system for capital markets.”

Strategy’s Bitcoin stack and the flexibility question

As of the conference dates of June 11-13, Strategy holds more than 700,000 Bitcoin.

During a fireside chat with Julian Liniger on June 12, Saylor addressed a question that has followed him for years: would Strategy ever sell its Bitcoin? His answer was more nuanced than the “never sell” mantra he’s become known for on social media.

Saylor clarified that while he personally advocates for a long-term hold strategy, Strategy as a company retains the flexibility to sell Bitcoin when necessary for operational needs. It’s an important distinction. Saylor the evangelist says hold forever. Saylor the executive chairman acknowledges that a publicly traded company has obligations that sometimes require liquidity.

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