How a Pandemic Turned Saylor into a Bitcoin Believer! 💰🚀

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In a delightful tĂȘte-Ă -tĂȘte with the illustrious Dr. Jordan B. Peterson, our hero, Michael Saylor, the mastermind behind MicroStrategy (now cheekily dubbed Strategy), regaled us with the tale of his foray into the whimsical world of Bitcoin during the tumultuous year of 2020. It appears that the COVID-19 lockdowns and the U.S. Federal Reserve’s antics made the idea of holding cash about as appealing as a soggy biscuit. đŸȘ

Saylor, with a flair for the dramatic, dubbed 2020 a “war on currency.” One can only imagine the scene: businesses shuttered tighter than a clam, while the government kept interest rates so low they were practically underground. Cash, it seemed, was not just stagnant; it was positively languishing! Saylor lamented that these lockdowns were “soul-stealing,” a rather poetic way to describe the plight of small businesses and workers, while the Wall Street bigwigs were laughing all the way to the bank. 🏩

During this chaotic period, the Federal Reserve was printing money like it was going out of style, which, lo and behold, sent the stock market soaring by summer. A bubble, dear reader, was forming, and MicroStrategy found itself sitting on a cool $500 million in cash that was earning about as much as a goldfish in a bowl. 🐟

In a moment of sheer brilliance—or perhaps desperation—Saylor sought a safe haven for his company’s funds, one that would retain its value over time. Real estate? Too pricey. Stocks? A gamble. Rare art, like a Monet? Well, let’s just say he wasn’t about to sell his grandmother’s heirlooms for a painting. In 2018, he had dismissed Bitcoin as a “scam,” but by 2020, after a rigorous study binge on YouTube, podcasts, and books (with a little help from his pal Eric Weiss), he had a revelation. 💡

It dawned on him that Bitcoin was, in fact, a far superior option to gold for preserving value without the pesky interference of governments or banks. Who would have thought? In August 2020, MicroStrategy took the plunge and acquired 21,454 Bitcoins for a mere $250 million. Fast forward to today, and the company now boasts a staggering 582,000 Bitcoins, valued at around $63 billion, making it the reigning champion of corporate Bitcoin ownership, as per the ever-reliable Saylor Tracker. 🏆

Saylor’s audacious decision stemmed from a profound distrust of traditional money, which was losing value faster than a politician’s promise in an election year. His bold move has illuminated the path for other companies, showcasing how Bitcoin can serve as a bulwark against inflation and the whims of government-controlled monetary systems. Bravo, Mr. Saylor! 🎉

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2025-06-12 14:31