Michael Saylor: MicroStrategy’s bitcoin true believer
— Week, Saylor, Company, Believer, Value, Microstrategy, Software, Cent, Michael, Microstrategys, Market, Bitcoin — 1 min read
Michael Saylor saw more than $6bn wiped from his personal wealth in a single day in March 2000. Saylor decided in 2020 that the Federal Reserve’s loose-money policies would debase the currency. He felt that the only prudent response was to put his company's spare cash into bitcoin. He went on to raise about $3.4bn through sales of stock, convertible securities, secured bonds and a secured loan, lifting MicroStrategy's total purchases to about $4bn at progressively higher prices. He was not admitting to a shadow of doubt this week about the wisdom of this move. Source