Microstrategy CEO is Going All In On Bitcoin

Microstrategy CEO is Going All In On Bitcoin

By Abhimanyu Krishnan | News | 19 Nov 2020


Microstrategy CEO Michael Saylor has doubled down on Bitcoin as an investment, saying that the decision to invest $600 million of the company’s reserves in the asset comes from a lifetime experience and months of analysis. Saylor made the remarks in a tweet after an interview with CoinDesk during the Bitcoin for Advisor’s conference on Nov. 18.

  • The decision to invest the reserves in Bitcoin was driven by the need to preserve the company’s cash treasury, which Saylor felt was being debased as a result of inflation
  • The investment makes good on a previous statement that the company was looking to go further with Bitcoin investments
  • The CEO was once a critic of Bitcoin, but in recent months has become a staunch supporter of the asset, even suggesting that Apple should integrate the asset into its Apple Pay service
  • Microstrategy’s $426 million investment has already turned a profit of over 50%, with the holdings now worth approximately $650 million 
  • Saylor himself personally owns $240 million in Bitcoin, which he bought before the company invested in the asset

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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