The technological billionaires Peter Thiel and Michael Saylor create vouchers from the Crypto Company, but some financial observers note that their strategies could present a significant risk.
Thiel and Saylor have poured substantial capital in cryptocurrencies through their respective companies and their investment vehicles: Saylor, with frequent Bitcoin purchases (BTC) from his software company, and Thiel, through investment in venture capital in cryptographic companies, and its exchange, which has become public in August.
Everyone seeks not only to extend their assets, but also to the way the cryptocurrency industry is shaped and regulated. But there are still significant differences in their respective strategies and perspectives concerning the crypto, and the companies that have decided to train cryptographic treasures could invite a “spiral of death” when prices block.
Thiel and Saylor have different cryptographic investment strategies
Michael Saylor, co-founder and president of the strategy of software companies (formerly Microstrategy), has created waves in the financial world through what has been nicknamed an “infinite money problem”.
The “glitch” refers to the approach of the strategy to buy bitcoin, in which he emits titles in shares or shares to buy bitcoin, then holds the asset on his balance sheet.
Normally, the emission of more equity would deviate the price of the action, but large purchases of Bitcoin would increase the price of BTC, later increasing the evaluation of the strategy and allowing it to issue more debts.
And the cycle continues.
The strategy was so successful for the strategy that it has won a multitude of imitators. The term “Bitcoin Treasury Company” is increasingly common in the financial world, with 174 public companies holding Bitcoin, according to Bitcointarasurys.net.
Saylor Crypto’s strategy focuses only on Bitcoin, namely to accumulate most of the cryptocurrency as possible, and contains an almost metaphysical characterization of the assets.
In 2020, he wrote that Bitcoin “is a swarm of Cyber Hornets serving the goddess of wisdom, feeding on the fire of truth, growing in an exponentially more intelligent, faster and stronger way behind a wall of encrypted energy.”
In a discourse to Bitcoin Policy Institute in March, Saylor said that Bitcoin was a “Newtonian network”, whose control was necessary for the United States to maintain world power.
He also suggested that an aggressive Bitcoin accumulation strategy of the American government could erase the national debt and suggested in other interviews that a Bitcoin national reserve is “a manifest destiny for the United States”.
Thiel’s strategy, although less revolutionary, is more diverse. In February 2025, Founders Fund, a venture capital company, co-founded by Peter Thiel in 2005, which supported companies like SpaceX, Palantir and Facebook, invested $ 100 million in Bitcoin and an additional $ 100 million in ether (ETH).
What cryptographic investment strategy will prove to be more effective in the long term:
A) Approach to Michael Saylor’s Bitcoin
B) Diversified strategy of Peter ThielShare your thoughts in the comments 👇👇👇
– Cointtelegraph (@cointelegraph) August 26, 2025
The Founders Fund holds 7.5% ethzilla, a biotechnology company that has turned into an ether investment vehicle, as well as a 9.1% share in Bitmine immersion technologies, which, among the founders, helped collect $ 250 million.
Thiel also supported an exchange of cryptocurrency, Hardier, which became public on August 19, receiving an evaluation of $ 1.15 billion set to several stablecoins, including USDC (USDC) and Paypal USD (Pyusd).
It is clearly invested in cryptographic space and is optimistic about its growth, but Thiel has also shown more measured skepticism, in particular with regard to bitcoin. Far from “the Saylor Cyber Hornets swarm serving the goddess of wisdom”, Thiel wondered before if the asset was not at least “partly a Chinese financial weapon against the United States”.
“This threatens fiduciary money, but above all threatens the US dollar, and China wants to do things to weaken it so that China has long been, and from a geopolitical point of view, the United States should ask more difficult questions about the operation exactly.”
In short, Thiel’s approach offers a more prudent and diversified exhibition to cryptocurrencies, while Saylor takes an aggressive and direct and all-sor-bedcoin strategy.
Bitcoin Treasury Companies increasing: is it a bubble?
The cryptography industry could soon discover what strategy will win. In recent weeks, the Bitcoin Treasury model defended by Saylor has lost steam.
The thesis of the model of “rendering capital, to convert to bitcoin and waiting” can be quite simple, but it leaves the company vulnerable to the notorious volatility of the Bitcoin markets.
If the price of the BTC drops too close to the Bitcoin metric by sharing or the value of net assets (NAV), a shares of a company, this stock loses the evaluation stamp which was supposed to increase its stock market course.
This can lead to a supposed “spiral of death” to which, as the market capitalization of a company is shrinking, the same goes for its access to capital. Without anyone to buy the company’s equity or no lender, the company cannot extend its assets or refinance the existing debt. If a loan ripens or a margin call, forced liquidations will follow.
The strategous nav is currently at 1.4 times its stock market course. It was almost double the course of action in February, when the Professor of Finance at Carnegie Mellon University, Bryan Routledge, told Fortune: “There is no rational explanation with this difference.”
Strategy investors are therefore confronted with the risk not only from the price of the price of bitcoin, but of “everything that stimulates this difference between the value of the assets and the price of the shares … This additional component is an additional risk of risk.”
In recent weeks, the strategy share price has dropped with BTC, but the BTC de Saylor purchase races are continuing tirelessly. The company bought 3,081 BTC for $ 356.9 million during the week ending on August 24.
Market conditions can be relatively stable for the moment and the White House policy remains firmly pro-Crypto. But cryptographic winters always come, and when they do, the market will see what strategy survives.
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