Michael Saylor’s day job as CEO of MicroStrategy is impressive, but it’s his love for Bitcoin that jumps out when it comes to his public persona.
Saylor and his firm MicroStrategy are so confident in Bitcoin that they took out a $205 million loan in March to acquire more of it, with Bitcoin as collateral.
However, the rosy cryptocurrency predictions from last year’s top appear very different now. Bitcoin’s price has dropped to its lowest level since December 2020 due to a broad crypto collapse. MicroStrategy has lost $1 billion in unrealized losses due to the decrease. And if the price of Bitcoin falls below $21,000, as it did early Tuesday, the company may face a margin call, which means it may be compelled to sell some of its assets.
According to Fortune, If the price of Bitcoin falls below $21,000, as it did early Tuesday, the firm may be forced to make a margin call, which means it will have to put up additional Bitcoin as security for the $205 million loans. Despite this, it appears that Saylor’s Bitcoin bullishness has not waned.
Saylor added “laser eyes” to his Twitter profile picture on Monday, as Bitcoin fell over 13% in a single day, a symbol that began in online Bitcoin communities but has since been adopted by high-profile figures such as El Salvador’s president and U.S. Sen. Cynthia Lummis (R-Wyo.) to show their unwavering support for Bitcoin.
Saylor doubled on Tuesday morning, tweeting “stack sats and stay humble” as Bitcoin declined. Satoshi Nakamoto is the pseudonymous creator of Bitcoin, and “Sats” is a slang nickname.
Early years
Saylor was born in Lincoln, Nebraska, to a military family in 1965. According to his biography on MicroStrategy’s website, he traveled as a traveled kid. Eventually, he stayed at a base in Dayton during his teenage years, where he became valedictorian of his high school and was selected as most likely to succeed.
