MicroStrategy's current president, Michael Saylor, has come a long way since he first invested in Bitcoin.
Four years doing “HODL” Bitcoin is a pretty big number that Michael Saylor, former CEO and current Executive Chairman of MicroStrategy, recently celebrated on May 30.
On his X account (formerly Twitter), the businessman shared this important date with his almost 3,5 million followers on the social platform, celebrating the exact day he made his First Bitcoin Purchase.
Saylor, who has become one of the biggest evangelists of cryptocurrency, began investing in Bitcoin on May 30, 2020, a decision he made with conviction and which has led him to transform not only his finances, but also those of his company.
MicroStrategy currently leads Bitcoin investment as the largest institutional investor in the cryptocurrency worldwide, amassing a holding of 214.400 BTC, from August 2020 to the present.
Michael Saylor has become a leading Bitcoin investor
Saylor began investing in Bitcoin, buying the cryptocurrency for himself, under the pretext that it is “digital gold”.
While Saylor did not initially reveal his exact BTC purchases, in October 2020 he did announce that personally owned 17.732 units of the cryptocurrency, which it had acquired with an investment of approximately $174 million. At the time of writing this article, this initial investment has already multiplied by 7, exceeding $1.200 billion.
Source: CoinMarketCap
When Saylor started investing in Bitcoin, the BTC price was around $9.500 per unit. However, in the last 4 years, it has appreciated exponentially, trading at around $68.200 per BTC, at the time of writing this article. This represents a gain of almost 715% in 48 months.
Diamond hands
As has happened with other entrepreneurs, Saylor's perception of Bitcoin changed over the years, after delving into the technology, design and innovation of Satoshi Nakamoto's creation. In 2013, Saylor believed that Bitcoin's days were numbered, now he believes that the cryptocurrency has a future. promising future as a safe and secure haven of value.
A few months after making his first personal purchase of Bitcoin, his company MicroStrategy announced the decision to make this cryptocurrency the main asset of value reserve of its treasury. Since then, Michael Saylor's company has been making recurring purchases of Bitcoin with different strategies that have allowed it to expand its holdings of the cryptocurrency using surplus cash.
Regarding these holdings, Saylor has assured that they will be maintained over time and that has no reason to sell. He has even said that cryptocurrency is “the exit strategy” and that he plans to keep bitcoins “forever.”
Saylor's belief in Bitcoin has also led MicroStrategy to explore new markets in the digital ecosystem. Thus, the company that began investing in Bitcoin as a company dedicated to developing business intelligence software, is now also involved in the development of Bitcoin's open source software and its scalability network, Lightning Network.
In relation to the above, in the last two years, MicroStrategy has presented the development of two applications based on the Bitcoin and Lightning network: the solution MicroStrategy Lightning and the decentralized identity protocol Orange.
