Saylor Sparks Bitcoin Nostalgia with a Cry from 2009

In a nostalgic nod to Bitcoin's origins, Michael Saylor recently echoed Hal Finney's groundbreaking tweet from 2009, calling attention to the significant advancements in the cryptocurrency space since then.

Key Takeaways

Michael Saylor recently tweeted "Running bitcoin," mirroring Hal Finney's first tweet on the topic from January 11, 2009.
Saylor's company, now known as Strategy, holds approximately 673,783 BTC, valued at over $61.16 billion.
Despite this impressive asset, Saylor's company shares trade below their net asset value, indicating potential undervaluation by investors.
The cryptocurrency landscape has shifted since 2009, with increasing institutional interest and new financial products like spot ETFs.

Saylor Sparks Bitcoin Nostalgia with a Cry from 2009

Nostalgia for Bitcoin’s Beginnings

Seventeen years after Hal Finney first tweeted "Running bitcoin," Michael Saylor shared the same phrase on his platform. This date wasn’t random; it marked a significant occasion. On January 11, 2009, Finney confirmed that Bitcoin was live and operational. Fast forward to January 10, 2026, and Saylor delivered a meaningful homage to that moment, especially as his firm manages one of the largest Bitcoin treasuries globally.

Formerly known as MicroStrategy, the company has amassed 673,783 BTC, purchasing at an average price of $75,024. As of now, this investment is valued at over $61.16 billion, reflecting a 20.98% unrealized gain.

Current Challenges and Strategies

Despite the impressive numbers, MSTR shares currently trade below their net asset value (NAV), which stands at a basic multiple of 0.739 and a diluted NAV of 0.823. This discrepancy indicates substantial unpriced potential, even with five years of steady accumulation.

Saylor's message arrives during a renewed interest in Bitcoin's role in modern finance. With the introduction of spot exchange-traded funds (ETFs), Saylor's firm continues to serve as a high-leverage Bitcoin proxy, lacking redemption features or fee compression.

The company's enterprise value aligns with about 96% of its Bitcoin holdings, suggesting that institutional investors remain cautious in valuing Strategy comparably to its primary asset.

Evolution of Bitcoin from 2009 to 2026

In 2009, the phrase "running Bitcoin" primarily described the process of getting software set up on personal computers and connecting it with a small community network. However, by 2026, it represents a public company that controls over 3% of the entire Bitcoin supply—operating without hedges, escape plans, or justifications.

Saylor didn’t elaborate on his tweet; the date itself spoke volumes.