Young Ki Ju brands Saylor's Bitcoin tactic as a deceitful capital markets trick
In a recent post on X, Ki Young Ju, CEO of CryptoQuant, applauded Michael Saylor and his firm Strategy (formerly MicroStrategy) for their "game-changing" approach to Bitcoin (BTC) accumulation. Saylor, the entrepreneur behind Strategy, has cleverly tapped traditional financial tools to bolster his firm's BTC holdings, resulting in over $63.5 billion worth of Bitcoin in the company's treasury.
Saylor has been innovative in his capital markets strategy, utilizing convertible notes and equity sales to acquire Bitcoin while circumventing direct cryptocurrency handling. This unique approach has earned Strategy the reputation of being a Bitcoin proxy among investors, as its stock price mirrors Bitcoin's price swings.
Ju's endorsement highlights the perpetual-motion engine effect these treasury firms with capital base desks create, where market volatility drives liquidity into Bitcoin. This growing confidence among long-term Bitcoin believers, symbolized by the phrase "up only," underscores Strategy's model as a blueprint for corporate Bitcoin accumulation.
At a side event during Bitcoin 2025 in Las Vegas, Saylor addressed proof-of-reserves concerns. He warned that disclosing wallet addresses leaves vulnerabilities for hackers, nation-state actors, and legal liabilities. Instead, Saylor advocates for audits by the Big Four accounting firms, followed by verification by CFOs and boards, to ensure accountability under U.S. law.
Saylor showed interest in zero-knowledge proofs as a potential alternative, offering transparency without revealing wallet addresses. However, he emphasized that such a system must earn approval from various stakeholders, and even then, it would still fail to cover liabilities. Institutional-grade audits remain the gold standard for financial assurance, as per Saylor's view.
Strategy's Bitcoin hoard now amounts to over $63.5 billion, with accumulated BTC worth more than 2.7% of the total supply. The firm's unrealized gains surpass $23 billion, and its average purchase price stands at $69,979 per BTC. Many companies and hedge funds are following Strategy's lead, contemplatingcrypto asset allocations.
While no other public firm has committed to Bitcoin at this scale, Saylor's strategy offers a high-risk, high-reward case study in corporate crypto integration. This model challenges traditional capital management practices and continues to spark debates around security, transparency, and regulatory standards. With Ki Young Ju's public backing, Strategy's momentum shows no signs of slowing down, reshaping the way institutional players perceive digital assets.
- Strategy, under Saylor's leadership, has been hailed by Ki Young Ju, CEO of CryptoQuant, for leveraging traditional financial tools to amass Bitcoin, creating a model that other companies and hedge funds are considering for crypto asset allocation.
- Saylor's innovative approach to Bitcoin investing, involving convertible notes and equity sales, has earned Strategy the status of a Bitcoin proxy among investors, given that its stock price mirrors Bitcoin's price swings.
- As Strategy continues to accumulate Bitcoin, its unrealized gains exceed $23 billion, and its average purchase price stands at $69,979 per BTC. However, concerns regarding proof-of-reserves, with potential vulnerabilities to hackers and legal liabilities, have been raised, leading Saylor to advocate for institutional-grade audits as the gold standard for financial assurance.
