MicroStrategy, led by founder and executive chairman Michael Saylor, is positioning itself to become a leading player in the Bitcoin banking industry.

In a recent interview with analysts at Bernstein, Saylor outlined the company’s endgame, which is to lend capital at low interest rates, offer slightly higher returns to lenders and invest the proceeds in Bitcoin.

Since 2020, MicroStrategy has aggressively acquired Bitcoin, using debt and equity to strengthen its positions. The company currently owns 252,220 BTC, worth over $15 billion, with a total investment cost of approximately $9.9 billion.

This positions MicroStrategy as the largest corporate holder of Bitcoin, representing approximately 1.2% of the total Bitcoin supply.

Saylor believes Bitcoin is the best-performing asset of the 21st century and sees it as a hedge against inflation and a long-term store of value. He predicts that Bitcoin will eventually make up a larger share of global financial capital, estimating a potential price of $13 million per Bitcoin by 2045.

The company’s strategy deviates from traditional banking models, as Saylor argues that investing in Bitcoin carries less counterparty risk compared to lending to individuals or businesses.

He stated that MicroStrategy plans to continue lending in the fixed income market while investing in Bitcoin, aiming for an average annual return of 29%.

Despite the challenges of scaling this model, Saylor expressed confidence in the company’s ability to raise substantial capital, envisioning a company that could grow to a trillion-dollar valuation.

Other companies, including Bitcoin miners and exchanges, may be looking to adopt similar treasury strategies, although Saylor noted that MicroStrategy’s unique market position makes it difficult for others to replicate its approach.