Peter Thiel and Michael Saylor are both leveraging cryptocurrency as a treasury reserve strategy, but their approaches differ significantly. Thiel, co-founder of PayPal and Palantir, opts for indirect exposure to Ethereum by investing in companies that transform into Ether-treasury vehicles. This strategy allows him to capture equity upside and crypto-treasury exposure without directly holding ETH. Thiel's investments in firms like ETHZilla and BitMine Immersion reflect his belief in Ethereum's long-term potential as programmable capital. In contrast, Michael Saylor, executive chairman of Strategy, has turned his company into the largest corporate Bitcoin holder. Saylor's strategy involves using equity and debt to accumulate Bitcoin, viewing it as a reserve asset and hedge against inflation. As of August 2025, Strategy holds approximately 629,000 BTC, representing nearly 64% of all public-company treasury holdings. Saylor's method is characterized by consistent accumulation and transparency, aiming for long-term balance-sheet strength. While Saylor's approach focuses on building a stable reserve, Thiel's strategy emphasizes agility and potential high returns through strategic investments in Ethereum-focused companies. Both strategies highlight different philosophies in leveraging cryptocurrency for corporate treasury management.