Michael Saylor #8

Biography:

Michael Saylor is an American entrepreneur and business executive who co-founded MicroStrategy in 1989 at the young age of 24 after graduating from the Massachusetts Institute of Technology. 

His early steps into adulthood were characterized by a passion for technology as well as aeronautics and astronautics — the main focus of his double degree, along with science, technology, and society.

He also completed flight officer training in Texas and was commissioned as a second lieutenant in the United States Air Force in 1987.

Saylor’s 2021:

Saylor’s poetic tweet about Bitcoin enhanced his position as one of the most prominent figures in the Bitcoin space in the last couple of years.

Bitcoin enthusiasts surely remember Saylor slamming Bitcoin in the early days: In 2013, he tweeted that Bitcoin’s days were numbered and would share the same fate as online gambling. 

He changed his mind radically, to the point that, by December 2021, Microstrategy had accumulated an astonishing 121,044 Bitcoin worth over $4 billion, which he’s keen on holding onto forever. He also purchased millions of dollars worth of Bitcoin for his personal wallet.

He started the year in great fanfare, setting up a Bitcoin academy page on the MicroStrategy website called Bitcoin is Hope and educating others about the cryptocurrency in conferences and academic locations across the United States.

In May, Saylor organized a meeting with a few large North American Bitcoin mining pools to discuss the future of mining in relation to energy usage. The Bitcoin community criticized the meeting, asserting there should be no interference of powerful businessmen in the Bitcoin protocol. 

Due to the backlash, the council reversed its goals on transparency, sustainable mining, and Bitcoin education, but clarified it would hold no decision-making power.

Saylor has also played a significant role in persuading Elon Musk to supply Tesla and SpaceX with Bitcoin as a treasury reserve instead of cash or gold. The Bitcoin price reached its first all-time high of the year in March when Tesla announced its purchase of $1.5 billion in Bitcoin and acceptance of the cryptocurrency as a payment method.

Saylor’s 2022:

Michael Saylor is also called the Bitcoin Bull because he’s become one of the most optimistic people when it comes to the future of Bitcoin. 

In 2022, it is expected that the entrepreneur will keep buying Bitcoin every time it dips. He has confirmed several times that the price is not an issue and that he will keep on buying while he has cash available since Bitcoin is better money than cash.

Microstrategy holds so much BTC now that its stock performance will likely be impacted by Bitcoin’s price more than any other factor.

The Bitcoin community is starting to rise to the fact that Saylor and his company might own too much Bitcoin, and 2022 could see further validation of this picture.

A company or individual owning too large a portion of Bitcoin could be detrimental to the cryptocurrency’s decentralization factor, thereby tipping the concentration of power — contrary to the open and decentralized culture that Bitcoin has so rigorously built over the years.

Saylor is still expected to be a principal BTC champion throughout 2022, educating businesses about Bitcoin through his influential and enlightening podcasts and learning courses.