Case Study Preamble
When a company converts 85% of their company cash reserves into bitcoin, it is worth asking why. It is also worth asking how, but that will come later. Most people are familiar with Bitcoin on the level of hearing it in the news every few years when it has experienced significant price movements. However, the majority of us have not taken the time to consider Bitcoin as a legitimate form of money. In March of 2020, MicroStrategy CEO Michael Saylor was forced by geo-political, and economic circumstances to consider Bitcoin as a store of value (SoV), Unit of Account (UoA), and Medium of Exchange (MoE). In other words, Michael Saylor started to consider Bitcoin as money. His investigation led his company, MicroStrategy to purchase $425 million worth of bitcoin by mid September 2020. Saylor has since been outspoken about this bold move for his publicly traded company to adopt the Bitcoin Standard. This case study aims to explore the reasons why Michael Saylor and the MicroStrategy board did what they did.
Not Just an Individual Decision
Michael Saylor has received the bulk of the attention and recognition for the company decision to convert cash reserves into Bitcoin. The reality of the situation is that MicroStrategy would not have been able to make this decision without the majority vote of the MicroStrategy board. The board is made up of five individuals, including Saylor. This drastically changes how the decision is conceptualized and perceived by the public as it means the decision cannot be seen as a radical move by an out-of-control CEO. Instead, a different narrative starts to emerge. The reality is that the board unanimously agreed to move the company onto a Bitcoin Standard.
This Case Study is Social Proof
This case study is geared for the business or individual that has been considering Bitcoin, but does not know much about it. We want all our readers on publish0x to forward this case study onto their friends, family, colleagues, and business partners that they've failed to bring on board to the crypto train. What this case study will do for them, is give them the insights they need to understand why MicroStrategy actually made a good decision. On the surface, purchasing $425 million worth of bitcoin with company reserves seems crazy. Or does it?
Go Full Crypto is Looking For More
We want to hear from more companies that have "Gone Full Crypto". Our intention is to document, and clearly articulate the various use cases behind why the business owners and individuals have decided to embrace all that the world of cryptocurrency has to offer.