On January 10, 2026, Michael Saylor reignited a historical phrase that signified Bitcoin‘s revolutionary journey, echoing the words “Running bitcoin,” first uttered by Hal Finney in 2009. This quote played a critical role in underlining Bitcoin’s shift from its start as a pioneering idea to its current status as a major player in corporate finance, now helmed by a renowned figure with one of the world’s largest Bitcoin reserves.
An Historic Phrase from Past to Present
January 11, 2009, marked a momentous period when Hal Finney declared the operation of Bitcoin’s early software on his personal system. At that time, “running bitcoin” reflected an intriguing technical endeavor with no connection to financial strategies or global market ambitions. It was solely a niche interest among a small group of tech enthusiasts.
Since then, Bitcoin has evolved from a niche software initiative to a substantial global financial asset. By 2026, the same phrase came to embody a significant aspect of capital markets, especially following the acceptance of spot ETFs and growing interest from both nations and large investment firms. Saylor’s invocation highlighted this profound transformation without elaboration, allowing the historical weight of Bitcoin’s journey to resonate.
How Does Strategy Navigate Bitcoin’s New Role?
The person responsible for reviving this phrase is Michael Saylor, whose investment strategy for Bitcoin is well-known. Under his leadership, the company, rebranded as Strategy, amasses a significant Bitcoin reserve totaling 673,783 BTC, purchased at an average price of $75,024, with a current valuation exceeding $61 billion. This positions the firm as a central force in the Bitcoin narrative.
Despite this impressive accumulation, Strategy’s market value does not fully reflect the worth of its Bitcoin holdings. Trading at a discount, the market perceives Strategy more as a Bitcoin investment vehicle rather than a technology-driven company, emphasizing core investment in cryptocurrency.
In comparison to the widespread adoption of spot ETFs, Strategy remains distinct due to its unique structural approach. It lacks certain mechanisms such as buyback options and redemption abilities, instead concentrating solely on Bitcoin investment free from typical fee constraints. By 2026, this entity represents a vast scale of ownership, holding over 3% of the total Bitcoin available.
Key takeaways from Strategy’s approach include:
- Possession of 673,783 BTC, signifying a long-term commitment.
- Investment valued at $61 billion, reflecting an historic market influence.
- Lack of buybacks/redeem options, differentiating Strategy from other vehicles.
- Over five years of consistent Bitcoin acquisition.
“Running bitcoin” resonates differently today, marking its stature in the corporate realm which was unimaginable in early 2009.
By recycling historic words within modern contexts, Strategy, under Saylor’s vision, continues to influence and challenge conventional market perceptions, reinforcing Bitcoin’s integral role in the evolving financial landscape.
