Michael Saylor Reveals: I Decided to Buy Bitcoin After the COVID-Induced Global Crisis
Michael Saylor became one of the most popular bitcoin bulls in the past several months after the company he founded over three decades ago allocated millions of dollars in BTC. He also disclosed buying nearly 18,000 bitcoins personally. In a recent live stream with Binance’s Changpeng Zhao (CZ), he revealed why he decided to allocate such a considerable amount in the primary cryptocurrency.
- During the Binance-initiated live stream, Saylor said that the events that transpired in March 2020 were a turning point for him and his company.
- He argued that the liquidity crisis prompted by the COVID-19 pandemic revealed the dirty secrets of all assets. However, he noted that bitcoin emerged victorious from these adverse developments.
- As April came, Saylor decided to educate himself on the primary cryptocurrency by reading The Bitcoin Standard, listening to “more podcasts than one should,” and reading numerous articles, reviews, and forums.
- He asserted that the decision to buy hundreds of millions of dollars worth of BTC for himself and his company was a rather easy one once he understood bitcoin’s characteristics and merits.
- Furthermore, Saylor noted that other CEOs and high net worth individuals had contacted him since his purchase to understand how bitcoin works. He failed to provide names but said that such individuals are increasingly more interested in buying BTC.
- CryptoPotato reported previously that MicroStrategy had bought over 40,000 bitcoins in the past few months. More recently, the NASDAQ-listed company proposed a private offering of $400 million of convertible senior notes with the intention of buying even more bitcoins.
