2371: 1,000,000 Bitcoin - The Countdown Has Started

**Justin Verrengia** (0:00)
Quick question, who the hell is selling their Bitcoin? Seriously, here's what's crazy. Bitcoin goes up, strategy buys more. And when Bitcoin goes higher, strategy buys faster. Most people think the higher prices slow the buyers down. But now we're discussing 1 million Bitcoin by September, less than three months out, fam. Not a million dollars and not a million shares.
1 million Bitcoin. Just a few years ago, people laughed when Saylor started converting cash into Bitcoin. They also laugh when strategy bought more. And they even laughed when strategy borrowed money to buy even more. Then they laughed when Bitcoin crashed. And yet somehow every cycle, strategy emerged with more Bitcoin. Not less, more. Today, strategy holds 846,842, which makes them the largest holder on the planet. And that isn't a prediction, and that isn't a target. That's literally what they already own. One analyst believes strategy reaches 1 million Bitcoin by September. What's even crazier is the reasoning. Most investors believe higher prices reduce demand. Bitcoin gets expensive, buyers become cautious, capital dries up, momentum slows. That's how markets work. But strategy doesn't appear to operate that way. The thesis is simple. If Bitcoin rises, strategy's balance sheet improves, its access to capital improves, and its ability to raise money improves. And also the ability to acquire Bitcoin obviously improves. In other words, higher prices don't slow strategy down. Higher prices accelerate strategy. That's the feedback loop. More people are beginning to notice. Bitcoin rises, strategy gains strength, strategy buys more Bitcoin, available supply shrinks. Bitcoin rises again. Meanwhile, BlackRock just launched the new Bitcoin income ETF official as of yesterday. It's now live. The largest asset manager on earth continues building around Bitcoin. BlackRock's iBit now holds 766,412 bitties worth roughly $50 billion, which is about 3.65% of Bitcoin's total supply. Meanwhile, the US-bought Bitcoin ETFs now collectively hold roughly 1 million Bitcoin. Think about that. Strategy is approaching 1 million Bitcoin and strategy continues buying. That's why the 1 million Bitcoin figure matters. Not because 1 million is a nice round number, but because every Bitcoin acquired by the long-term holders is Bitcoin removed from circulation. The market keeps acting like Bitcoin supply is unlimited. It isn't. There will only ever be 21 million. We all know that, right? And a growing percentage is moving into the hands of the institutions, the corporations, the ETFs, the governments, and the long-term holders with no intention of selling. That's what makes the September discussion so interesting. We're no longer debating whether strategy buys Bitcoin. We're no longer debating whether Bitcoin belongs on corporate balance sheets. Those debates are over. The conversation has shifted. The conversation is now, how quickly can strategy reach 1 million Bitcoin? Because if strategy reaches 1 million Bitcoin, while US spot ETFs already hold 1 million Bitcoin, who gets the next million? That's my question for you. And let's not forget the US. Strategic Reserve Bill is proposing acquiring 1 million. Where are all these millions of Bitcoin supposed to come from? That's why I started today's show with the question, who is selling their Bitcoin? Serious question. Let me know if you have an answer, of course. The crazy part isn't how much Bitcoin strategy already owns, it's how fast they're still buying. Check this out. MSTR expert just said Saylor's strategy is on pace for 1 million Bitcoin within the next three months. He says if the price of Bitcoin runs higher, he'll just accumulate even faster. Check out this quick video clip.

**SPEAKER_2** (3:53)
You've said that you see Michael Saylor is currently on the path to acquire 1 million Bitcoin. When does that happen?

**SPEAKER_3** (4:00)
It definitely happens this year. I would say most likely sometime around September. If the price of Bitcoin runs higher, he accumulates faster, which is counterintuitive. Sometimes people think if the price of Bitcoin goes up, it's slower accumulation, and that's actually the exact opposite. So I think sometime around September of this year, 2026, he will have a million Bitcoin.

**Justin Verrengia** (4:20)
So he said definitely happening this year, most likely by September. And if the Bitcoin price rises, it'll only accelerate how fast Saylor achieves the 1 million Bitcoin milestone. So clearly, it looks like Saylor is going to reach this much faster than iBit. But you never know. Consider about a month ago, both BlackRock's iBit, which is the largest Bitcoin ETF in the world, and Saylor's company's strategy were neck and neck with the same amount of Bitcoin. In fact, one week Larry Fink would be a little higher than Saylor, and now Saylor has a pretty significant lead. And that's only because BlackRock started dumping Bitcoin more recently.
And that's reflective in the price action, which you can see on your screen, because at one point they had 820,000 ballpark, and right now it's closer to 760,000, while Saylor is steadily accumulating. In fact, strategy only dumped 32 Bitcoin. Then the following week, purchased another 100 million worth. Then the following week, which was this week, purchased another 100 million worth. So he's definitely a net buyer. But it's just fascinating how one entity can have 1 million Bitcoin and just between BlackRock and Saylor, two entities, that'll be 2 million Bitcoin gone from the market forever. And when we start to factor in the strategic Bitcoin reserve for the US, that's another million Bitcoin. Satoshi's stash lost, gone forever. Stagnant, never going to move. 1.1 million Bitcoin, 3 to 4 million Bitcoin permanently lost, gone forever. You can see how scarce Bitcoin truly is, unlike any other asset. Out there.