Michael Saylor has announced that he will destroy all Bitcoin private keys upon his death: Contributing to the global BTC holders
Original Title: "Michael Saylor Announces Intention to Destroy All Bitcoin Private Keys Upon Death: Contribution to Everyone Holding BTC Worldwide"
Original Author: James, BlockTempo
As the new year arrives, the U.S. publicly traded company and Bitcoin whale MicroStrategy continues to accumulate Bitcoin. MicroStrategy's co-founder Michael Saylor shared a tweet on the 5th sharing the MicroStrategy Bitcoin holdings data tracked on SaylorTracker.com.
This marks Michael Saylor's ninth consecutive week of releasing the MicroStrategy Bitcoin holdings data tracking. However, unlike previous times, he candidly stated that "some parts of the website are not quite accurate," hinting at the possibility of MicroStrategy once again increasing its Bitcoin holdings.
Following the established pattern, Michael Saylor has always increased Bitcoin holdings on the day after announcing the holdings data. On SaylorTracker.com, each time MicroStrategy buys Bitcoin, a green dot is marked on the corresponding date, with the Bitcoin price trend line shown in blue.
Last October, MicroStrategy introduced the 21/21 plan, aiming to conduct $21 billion in equity financing over the next three years and issue $21 billion in fixed-income products (including debt, convertible notes, and preferred stock), raising a total of $42 billion to purchase more Bitcoin.
On the 3rd, MicroStrategy announced the latest progress of its 21/21 plan, planning to issue perpetual preferred stock through one or more public offerings to raise up to $2 billion. The purpose is to continue strengthening its balance sheet, acquire more Bitcoin, and is expected to be implemented in the first quarter of 2025.
MicroStrategy currently holds 446,400 Bitcoins, valued at approximately $44.27 billion, with an unrealized profit of up to $16.3 billion.
Reiteration of Intention to Destroy Bitcoin Private Keys After Death
Another noteworthy announcement is that Michael Saylor recently declared in an interview with Fox Business that upon his death, he will destroy his Bitcoin private keys. He described this action as a "proportional contribution to everyone in the world holding Bitcoin."
Michael Saylor advocates that Bitcoin holders should destroy their Bitcoin private keys after death, permanently depriving access to the held Bitcoin. This would reduce the Bitcoin supply in the market, ultimately ensuring the rise of Bitcoin's value, thus benefiting the holders.
Michael Saylor stated that he hopes to be remembered for "taking the torch from Satoshi and pushing Bitcoin forward through enterprise and government adoption long after his demise."
"Michael Saylor had disclosed at the end of 2020 that he personally holds 17,732 Bitcoins. He had previously mentioned that over the years, he not only hasn't sold any Bitcoin but has continued to accumulate more, although the exact number is currently unclear."
The proposal to destroy Bitcoin private keys after death has sparked a wide discussion in the crypto community. From a critical perspective, this action may seem irresponsible and wasteful. If many whales adopt this practice, it could distort the Bitcoin ecosystem. Nevertheless, some community members praise this move as a "very clever diamond hands play."
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