Seventeen years after Hal Finney first typed the phrase “Running bitcoin” on X, Michael Saylor echoed those exact words.
This wasn't a random date. On January 11, 2009, Finney sent the inaugural tweet confirming Bitcoin's activation. Fast forward to January 10, 2026, Saylor commemorated this milestone with a precise and understated message as his company proudly manages one of the largest Bitcoin reserves worldwide.
Strategy, previously known as MicroStrategy, holds an impressive total of 673,783 BTC acquired at an average price of $75,024 each. At today's market value, their holdings exceed $61.16 billion — representing an unrealized gain close to 21%.
“Running bitcoin”
— Michael Saylor (@saylor) January 10, 2026
Despite this massive asset base, MSTR shares continue to trade significantly below their net asset value (NAV), with a basic NAV multiple at just 0.739 and diluted NAV around 0.823. This valuation gap implies billions in unrecognized exposure even after half a decade of steady accumulation.
The timing of Saylor's message is notable amid renewed interest in Bitcoin's monetary significance globally. While spot ETFs have emerged recently on the scene, Strategy remains a high-leverage proxy for BTC ownership — operating without redemption options or fee reductions and maintaining unwavering strategic focus.
Running Bitcoin in the Year 2026
The firm’s enterprise value currently reflects slightly less than ninety-six percent of its Bitcoin assets’ worth — indicating that institutional investors still hesitate to assign full credit to Strategy relative to its core holdings.
Back in early days circa 2009, “running Bitcoin” meant setting up software locally and connecting with others on a network manually. Today, “running Bitcoin” refers instead to managing publicly traded companies controlling over three percent of all Bitcoins available — without hedging risks or fallback plans whatsoever.
Saylor chose not to elaborate further on his tweet: sometimes dates alone convey powerful messages enough.