How Michael Saylor Became a Bitcoin Billionaire

Michael Saylor, the chairman and co-founder of MicroStrategy, is one of the most prominent and vocal advocates of Bitcoin. He has amassed a fortune in the cryptocurrency, both personally and through his company, which has made Bitcoin its primary treasury reserve asset.

Saylor’s journey to becoming a Bitcoin billionaire began in 2020, when he announced on Twitter that he had personally bought 17,732 BTC for $175.2 million, at an average price of $9,882 per coin. At the time, Bitcoin was still recovering from the market crash in March 2020, when it briefly dipped below $4,000.

Today, Saylor’s initial investment would be worth over $1.1 billion, based on the current price of Bitcoin at around $63,000. However, it is likely that Saylor has increased his personal holdings since then, as he has repeatedly expressed his conviction and confidence in Bitcoin as a store of value and a hedge against inflation.

Michael Saylor

Saylor has also led his company, MicroStrategy, to adopt a similar strategy. In August 2020, MicroStrategy became the first publicly traded company to put Bitcoin on its balance sheet, buying 21,454 BTC for $250 million. Since then, the company has continued to buy more Bitcoin, using its cash reserves, issuing convertible bonds, and selling its own shares. As of March 2021, MicroStrategy owns 193,000 BTC, worth more than $12 billion, making it the largest corporate holder of Bitcoin.

Saylor has also become a vocal evangelist for Bitcoin, appearing on various podcasts, interviews, and conferences to promote the cryptocurrency as the ultimate form of digital property and the future of money. He has also launched a free online course called Bitcoin for Everybody, aimed at educating the masses about the benefits and potential of Bitcoin.

Saylor has often stated that he is not interested in selling his Bitcoin, even if the price reaches astronomical levels. He has also claimed that he is not worried about the volatility or the regulatory risks of Bitcoin, as he believes that the long-term trend is upward and that the network is resilient and decentralized.

“I’ve famously said, I’m going to be buying the top forever,” Saylor said in February 2021, after MicroStrategy bought another $155.4 million worth of Bitcoin. “I’m not selling it. I’m not trading it. I’m just holding it.”

Saylor’s bold and bullish stance on Bitcoin has earned him the admiration and respect of many in the crypto community, who regard him as a visionary and a leader. He has also inspired other companies and institutions to follow his example and invest in Bitcoin, such as Tesla, Square, and MassMutual.

However, Saylor’s strategy is not without risks or critics. Some analysts have questioned the wisdom and prudence of putting so much of his company’s capital and reputation on a single, volatile, and unregulated asset. Some have also accused him of being reckless and irresponsible, or even manipulating the market for his own benefit.

Saylor has dismissed these criticisms, arguing that he is acting in the best interest of his shareholders, his employees, and his customers. He has also challenged the critics to come up with a better alternative to Bitcoin, which he considers to be the most superior and scarce asset in human history.

“I don’t think there’s any other asset where every intelligent person who understands it, decides to adopt it,” Saylor said in March 2021. “Eventually, it will be billions of people and tens of thousands of corporations that will want to adopt this digital gold standard.”

Whether Saylor is right or wrong, one thing is certain: he has made a huge bet on Bitcoin, and he is not backing down. He has become a Bitcoin billionaire, and he intends to stay that way.

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