Michael Saylor is one of Bitcoin’s biggest names.
Of course, he’s no Satoshi Nakamoto, Bitcoin’s anonymous founder. But in the last few years, he’s carved himself a place on crypto’s Mount Rushmore.
But who is Michael Saylor?
More importantly, what do his actions mean for the greater crypto industry and holders like you? That’s what we’ll cover today.
Read on to learn more about Michael Saylor and his company, Microstrategy.
If you’re not familiar with Michael Saylor, here’s a quick biography.
Michael Saylor is the founder and executive chairman of Microstrategy. At the age of 24, he founded the company after graduating from MIT with a degree in aeronautics and astronautics. Microstrategy became a prominent player in the business intelligence and analytics software industry.
The company went public in 1998 and navigated the tumultuous dot-com bubble and other market challenges.
What does this have to do with Bitcoin?
Well, Saylor was once quite the crypto skeptic. Initially, his opinion was that Bitcoin was merely a speculative asset. After studying Bitcoin as a store of value and a hedge against inflation, his perspective changed.
In 2022, he switched his role from CEO to executive chairman of Microstrategy, focusing his efforts on Bitcoin acquisition.
Nowadays, he’s a vocal advocate for Bitcoin. Not only is he frequently sharing his bullish insights across various media channels, but he’s also influenced Microstrategy to invest heavily in Bitcoin.
Note: On February 5th, 2025, Microstrategy announced a re-brand to Strategy* (as mentioned on finance.yahoo.com), including adding a Bitcoin “B” to their new logo and a full embrace of the title “World’s Largest Bitcoin Treasury Company.”
Let’s talk about Microstategy’s Bitcoin acquisition strategy. Led by Michael Saylor, the company made an initial investment in August of 2020* (as mentioned on theblock.com) for 21,454 Bitcoin for $250 million. In doing so, they became the first publicly traded company to invest significantly in Bitcoin.
Since then, they’ve been on a Bitcoin buying spree:
Michael Saylor is not just buying up Bitcoin as fast as he can; he’s also an incredibly vocal advocate for the popular cryptocurrency.
He believes Bitcoin has the potential to reach $13 million per coin by 2045* (learn more at finance.yahoo.com), considering the lowest possible outcome of $3 million per coin. Why? Well, Saylor points to Bitcoin’s limited supply and its ability to hedge inflation.
But it’s not all bullish buys.
After 12 consecutive weeks of purchases, Microstrategy paused its Bitcoin buying spree in late January. The move, alongside a stock sale and revised tax laws, has raised questions about Saylor’s next strategic moves. Even so, he remains a vocal Bitcoin advocate.
So, what does this all mean for the crypto markets and the industry as a whole?
As you can imagine, Microstrategy has had quite an impact on the cryptocurrency industry.
The company was a first mover, changing how the corporate world saw Bitcoin. This shift in perception was critical for further institutional adoption.
Just look at Tesla.
Their historic buy in 2021 of $1.5 billion in Bitcoin may not have happened if Microstrategy and Michael Saylor hadn’t paved the way. Moreover, there were more corporate purchases from companies like Square, Marathon Patent Group, and more.
MicroStrategy's move created a domino effect, inspiring confidence in other corporate leaders.
This move also helped cement Bitcoin’s reputation as a store of value and attracted mainstream media attention.
Of course, Microstrategy’s approach is not without criticism.
Here is a short list of what some of those critics are saying:
As it stands now, Michael Saylor's commitment to Bitcoin is paying off. But time will tell as to whether this big bet is a long-term winner.
As we just touched on, the reaction from the traditional finance markets to Microstrategy has been mixed.
Some praise Michael Saylor as a forward-thinking innovator, while others view his approach with a heavy dose of skepticism. One such critic, Citron Research, shared the news that they opened up a short position* (as mentioned on reuters.com), meaning they’re betting against Microstrategy, in November 2024, saying that the company’s valuation was “overheated.”
There’s also the fact that as Microstrategy’s stock price is now more correlated with the price of Bitcoin, shareholders are left in a precarious position.
Risks include the potential for significant losses if Bitcoin’s price were to decline sharply.
Some shareholders have already expressed concern about the company’s focus on Bitcoin and their lack of attention to its core software business.
In December 2024, Michael Saylor made his Bitcoin pitch to software giant Microsoft.
While shareholders rejected his proposal, it was still a huge moment for the crypto industry. Why? It meant that Bitcoin was one step closer to true corporate adoption. Sure, Microsoft rejected it this time. But, just a few years ago, this proposal would not even have seen the light of day.
Today, it’s Microstrategy, Tesla, Square, and a few others. Tomorrow, it could be the Microsofts of the world.
For these corporations, Bitcoin could provide some unique benefits:
When we pair the idea of corporate adoption with what is happening in the U.S. and state governments, a promising picture comes into view.
Bitcoin is no longer a niche digital currency. It’s big business now.
Adoption is on the rise, and it looks as if the only way for us to go now is up.
So, will Michael Saylor’s big bet pay off? It’s hard to say. Even the most optimistic onlookers would see the risk inherent in his strategy. But, as they say, you only hit a home run when you swing for the fences.
In other words, big bets carry lots of potential risk but pay out the largest.
What does this mean for you? Well, whether you’re a long-term holder or just dipping your toes in the crypto waters, this kind of momentum is hard to see as a negative. Mainstream adoption of Bitcoin is here.
No matter what happens in the next few years, know that Bitcoin Depot is here to help you along your crypto journey.
With 8,400+ Bitcoin ATMs (as of February 2025) across the U.S., Canada, and Puerto Rico, you’re never too far away from a seamless cash purchase of Bitcoin. So, stay ahead of the pack and find your nearest Bitcoin ATM location today.
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