As an analyst with over two decades of experience under my belt, I must say that Michael Saylor’s resilience and foresight continue to impress me. His recent jab at The Wall Street Journal (WSJ) following Bitcoin’s record-breaking high is a testament to his indomitable spirit and strategic acumen.
In a recent social media update, MicroStrategy’s co-founder Michael Saylor playfully criticized The Wall Street Journal (WSJ) following Bitcoin reaching another new peak.
Saylor admitted to the widely-discussed Wall Street Journal piece concerning his significant investments in Bitcoin, which unfortunately resulted in losses.
An ominous piece penned in August 2022 emerged following Saylor’s departure from his CEO position. At that time, the company’s stocks had plummeted by approximately 50% for the year, having been reported as a substantial $1.44 billion loss.
According to an analyst cited by the Wall Street Journal, there could be potential difficulties for MicroStrategy in meeting its debt obligations.
In the past, a single Bitcoin was being traded for approximately $20,000. However, later in the same year, due to the FTX crisis, the value of Bitcoin dropped down to as minimal as $16,000.
As an analyst, I observed in August 2022, Fortune also expressed skepticism about MicroStrategy similar to the Wall Street Journal, predicting that Michael Saylor’s bold Bitcoin investment could potentially lead to his downfall permanently.
The businessman, who founded MicroStrategy at the age of 24, is no stranger to setbacks. Of course, he famously lost as much as $6 billion in a single day in 2000 after the MicroStrategy stock plunged due to accounting issues.
It’s clear that Saylor was thinking ahead with Bitcoin. By 2024, it had already increased by over 80% for the year so far. Interestingly, MicroStrategy (MSTR) stock has done even better, climbing by over 300% during the same timeframe.
According to a report from U.Today, it’s planned that this data analytics company will invest around $42 billion into Bitcoin at some point in the future.
Earlier today, Bitcoin hit a new record high of $76,677.
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2024-11-07 23:09