Michael Saylor’s Life Story and Philosophy as the Creator of MicroStrategy

MicroStrategy is the first publicly traded business with a NASDAQ listing to convert a portion of its capital to bitcoin in the summer of 2020. Beginning in September 2022, MicroStrategy will hold nearly 130,000 Bitcoin.

This plan was conceived by Sailor. He contends that bitcoin is an investment and reserve asset that enables companies to safeguard their capital from the dangers of inflationary fiat money.

As a result of significant losses brought on by the decline in the price of bitcoin, Saylor resigned as CEO of MicroStrategy at the beginning of August. He did, however, stay with the business and would be handling its financial strategy.

The Beginning and Establishment of MicroStrategy

Michael Saylor was born in Lincoln, Nebraska, in 1965. graduated in 1987 from MIT (Massachusetts Institute of Technology). He started working for The Federal Group, a consulting company, at the same time, where he was engaged in computer simulation modeling. He relocated to DuPont in 1988.

Saylor co-founded the IT firm MicroStrategy in 1989 with Sanju Bansal, another MIT alumni, and held the position of CEO there until 2022. McDonald’s Corporation served as the business’s first significant client after signing a contract with it in 1992. MicroStrategy made a successful first public offering in 1998. (IPO).

Soon after, the business launched the Alarm.com initiative, which offers services for monitoring and controlling devices remotely. The startup was sold to the venture fund of ABS Capital Partners in 2009. The Washingtonian pegged Saylor’s net worth at $7 billion in 2000.

Saylor and two other top MicroStrategy managers were accused by the SEC of committing errors in the drafting of the company’s financial report for the previous two years in the spring of that year. In order to resolve the conflict with the commission, he paid a fine but did not confess to any wrongdoing.

The business intelligence platform for corporate clients continues to be MicroStrategy’s major offering for the time being.

How Michael Saylor Describes the Advantages of Bitcoin for Investors and Business

The inventor of MicroStrategy cited the significant risks of inflation in the US, which might cause savings denominated in US dollars to depreciate quickly, as an explanation for why people should acquire bitcoin.

Later, he maintained that his company’s purchase of bitcoin was not merely speculative but rather part of a long-term strategy, and he pledged to hold onto the original cryptocurrency for 100 years.

The financial market had active growth in 2020–2021 as a result of extensive stimulus plans implemented by Western governments. Investing in bitcoin and other cryptocurrencies has been equated by some commentators to doing so with high-risk investments. But Saylor contends that institutional investors’ need to hedge against the hazards of fiat currency devaluation is more the driving force behind their purchase of bitcoin.

Saylor predicted that other businesses, mostly private ones, will soon convert their money to bitcoin in the fall of 2020, and MicroStrategy’s CFO later asserted that holding savings in the first cryptocurrency is a “responsibility” for all tech firms.

Saylor highlights that bitcoin is a valuable asset that is not given up, rather than a direct replacement for traditional money. The first cryptocurrency is described by him as a new reserve asset.

According to the inventor of MicroStrategy, another justification for a company holding bitcoin is its appeal as a long-term investment. Sailor is certain that over time, the profits from buying bitcoin will outpace those from early investments in the stock of well-known technology companies like Apple, Amazon, Google, Facebook, and others.

How Many Bitcoins Does Michael Saylor Own?

The creator of MicroStrategy acknowledged in October 2020 that he purchased several bitcoins even before his company made an investment in them.

At the time, Saylor claimed to have 17,732 BTC in his own portfolio, which he acquired at an average price of $9,882 per coin. The merchant said that before MicroStrategy carried out its initial bitcoin purchase, he informed the corporation of these accumulations. Sailor’s investments in the first cryptocurrency were worth over $353 million as of September 1, 2022.