When it comes to being the top supporter of Bitcoin (BTC), there is hardly anyone that would be able to compete with Michael J. Saylor. It was only a couple of years back when Michael J. Saylor was among the group of people who were against Bitcoin (BTC).
As per Michael J. Saylor, Bitcoin (BTC) and its volatile nature made it an asset that would always be of high-risk. He stated that the very nature of Bitcoin (BTC) made an asset in which he would never invest his money. According to the people and partners who known Stanley, the CEO of MicroStrategy has never done anything if he even had a fragment of doubt.
However, in the past two years, Michael J. Saylor has turned out to be a personality who has grown an affection for Bitcoin (BTC). The CEO of one of the largest business intelligence firms has now become a proponent of Bitcoin (BTC). The majority of his tweets are about Bitcoin (BTC) as to how promising and reliable Bitcoin (BTC) is as an investment asset despite its volatile nature.
With his actions in the year 2020, Saylor has confirmed to the entire cryptocurrency as well as financial institution industry that he is not just all talk. Back in mid-September, Saylor revealed to all his Twitter followers that he has 18,000 Bitcoin (BTC) held under his personal portfolio. Saylor had informed the community that he had spent around $100 million to acquire 18,000. However, at the time of writing, 18,000 BTC translate into around $727 million, which means that Saylor made the right choice.
Not only this, but Saylor also convinced the board of directors at MicroStrategy to invest in Bitcoin (BTC). Therefore, the company made a huge purchase of around $435 million worth of Bitcoin in late August and September of 2020. Later, the company made another investment of around $50 million to buy more Bitcoin (BTC).
Then towards the end of December 2020, it was confirmed by Michael J. Saylor that MicroStrategy had managed to purchase around $650 million worth of Bitcoin (BTC). In total, the company spent around $1.125 billion and currently has 70,470 BTC under its possession. At the time of publishing, the 70,470 BTC figure translates into around $2.85 billion.
It was also confirmed that all the purchases made by MicroStrategy have been mediated by one of the largest cryptocurrencies in the world known as “Coinbase”. With a total purchase of around $1.125 billion, MicroStrategy has become the top financial institution to have made such a large BTC purchase in 2020.
So far, it seems that Michael J. Saylor has made the right choice of trusting in the potential and growth of Bitcoin (BTC). However, it is not known what is written for Bitcoin (BTC) in the coming years.