Michael is an advocate for the Bitcoin Standard and is the first CEO of a publicly listed company to make a long-term investment in Bitcoin. Michael Saylor is an American entrepreneur, executive, inventor, author, and philanthropist. He is the Chairman and CEO of MicroStrategy (MSTR), a publicly traded business intelligence firm he founded in 1989. “Bitcoin is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple, & secure savings account to billions of people that don’t have the option or desire to run their own hedge fund.” – Michael Saylor
MicroStrategy’s Michael Saylor owns at least 17,732 bitcoin, The Information reported. That means his holdings are worth about $866 million at bitcoin’s current price of around $48,000. Separately, his software analytics firm owns 122,478 bitcoin and plans to keep adding to its stash.
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MicroStrategy CEO Michael Saylor, whose software company owns about $6 billion worth of bitcoin, said the cryptocurrency doesn’t need Warren Buffett’s endorsement to be wildly successful. Buffett dismissed cryptocurrencies last year as basically worthless because they don’t produce anything. Saylor highlighted the criticism from the famed investor and Berkshire Hathaway CEO during a presentation at MicroStrategy’s virtual investor day this week. He pointed out that other assets have performed extremely well without Buffett’s backing, and suggested bitcoin could flourish if even 5% of institutional investors embrace it. “Warren Buffett never bought Microsoft stock, and he was best friends with Bill Gates for nearly a generation,” Saylor said, according to a transcript on Sentieo, a financial-research site.