• Michael Saylor, CEO of MicroStrategy and major crypto bull, has paid off a $200 million+ loan from the now failed crypto bank Silvergate and has bought more bitcoin units.
• The company’s total BTC holdings have now reached nearly $4 billion despite the bear run in 2021 where Bitcoin prices fell from its all-time high of $68,000 per unit to mid-$16K range.
• Michael Saylor’s love for BTC has gone overboard at times, leading to concerns about his decisions for the company.
Michael Saylor – Crypto Bull
Michael Saylor is the man behind software giant MicroStrategy and a major crypto bull. He recently paid off a loan obtained from a now failed cryptobank Silvergate in order to purchase even more Bitcoin units bringing the companies total BTC holdings to nearly $4 billion.
The Bear Run of 2021
In 2021, Bitcoin was hit extremely hard as its value dropped over 70 percent of its original value due to a bear run that caused it to fall from its all-time high of $68,000 per unit down into mid-$16K range by the end of 2022. This had an effect on institutional players such as MicroStrategy who suffered greatly and led to Michael Saylor stepping down from his CEO position after 30 years with the company and becoming executive chairman instead.
Saylor’s Love for BTC
Michael Saylor’s love for BTC has been criticized at times with some believing he rushes into decisions without properly thinking them through first. As Bitcoin and other altcoins are currently undergoing a bull run there is still much room for improvement and healing before things can get back up to their previous levels.
Repaying the Loan
Despite being billions of dollars in debt in 2022 due to the bear run, MicroStrategy managed to pull themselves out of their slump enough that they could pay off one of their biggest loans – which was obtained from Silvergate – in late March 2021.
Though it looks like things are perhaps picking up again in terms of cryptocurrency values, it is still important not to rush back into investments without properly assessing everything first as there could be further damage done if one isn’t careful or patient enough when making decisions related to digital currency investments such as those made by Michael Saylor with MicroStrategy.