Tuesday, 02 January 2024 12:17 GMT

Michael Saylor Says Bitcoin's Trading Power Exceeds Google, Microsoft Even The US Navy's Annual Spending


(MENAFN- AsiaNet News)

Strategy's (MSTR) Executive Chairman Michael Saylor on Wednesday claimed that Bitcoin (BTC) has surpassed Google (GOOG, GOOGL), Microsoft (MSFT), and even the U.S. Navy in trading power.

“Bitcoin is the foundation of economic markets - its trading power exceeds Google, Microsoft, and even the Navy's spending power,” he said on stage at Binance Blockchain Week.“This is not rhetorical - you have advocates in the cabinet, even the head of the FBI; a president supporting this asset class, and that's a big deal,” he added.

MSTR's stock rose as much as 2.3% in pre-market trade as the broader cryptocurrency market recovered. Bitcoin's price was trading around $92,800 – up 7.3% in the last 24 hours.

Bitcoin's Trading Volume Outpaces Big Tech

Bitcoin's average daily trading volume in 2025 has been between $20 billion and $100 billion, according to CoinMarketCap. On Wednesday, the volume stood at around $85 billion. By comparison, combined peak trading volumes for Alphabet and Microsoft rarely top $30 billion, according to Koyfin data.

Meanwhile, the U.S. Navy's fiscal 2025 budget totals $257.6 billion annually, roughly $706 million per day, far below Bitcoin's daily trading activity. Unlike stock volumes, which are measured in shares and multiplied by price, Bitcoin's trading includes spot, derivatives, and over-the-counter transactions globally, highlighting the cryptocurrency's deep liquidity.

Get updates to this developing story directly on Stocktwits.

Read also: Bitcoin Climbs Above $93,000, Wiping Out Over $400 Million In Short Bets

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