MicroStrategy chairman argues Bitcoin qualifies as a long-term asset wealthy investors will seek in a decade.
Michael Saylor stated Bitcoin passes the “Bernard Arnault test,” a framework assessing whether an asset will attract wealthier buyers in ten years. The MicroStrategy executive chairman shared the argument in a video, emphasizing durable demand over short-term bargains.
Saylor’s test references Bernard Arnault, LVMH’s chairman and the world’s 11th-richest person with $142.3 billion. The rule prioritizes assets that ultra-high-net-worth individuals will still pursue a decade later, rather than transient opportunities. Arnault has not endorsed Bitcoin, and LVMH holds no disclosed position in the asset.
MicroStrategy’s Bitcoin holdings, acquired over six years, reflect Saylor’s long-term conviction. The company’s BTC stack remains slightly above its average purchase price, underscoring the strategy’s focus on long-duration assets.