Deep dive: How Michael Saylor came back from losing $6B in 1 day
Michael Saylor, chairman of MicroStrategy, is seen as a personification of Bitcoin’s core ideals. Initially understanding digital scarcity through premium domain names, he moved to Bitcoin in mid-2020, following a strategic domain sale to Block.one. Saylor's company made headlines by investing heavily in Bitcoin, acquiring 21,454 BTC shortly after announcing a new investment strategy. This led to MicroStrategy becoming a major Bitcoin holder, amassing 499,096 BTC, which is about 2.5% of the circulating supply. His investment journey is marked by significant financial leverage, including raising billions through debt sales to fund Bitcoin purchases. Despite a volatile market, MicroStrategy's market value surged from under $4 billion to over $80 billion, highlighting Saylor's successful pivot from domains to cryptocurrencies. Currently, the firm holds substantial debt against a large Bitcoin portfolio, with Saylor’s personal net worth reflecting this strategic gamble on Bitcoin's future value.
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