Foreign media once laughed at him as a 'Loser'! MicroStrategy founder: I made 10 billion pounds with BTC

Saylor counterattacks against the Wall Street Journal, mocking its pessimistic predictions.

MicroStrategy co-founder Michael Saylor recently mocked The Wall Street Journal's pessimistic report on him in August 2022 on social media. At that time, The Wall Street Journal published an article titled "He bet billions of dollars on BTC and lost," questioning Saylor's BTC strategy and predicting that MicroStrategy may not be able to repay its creditors.

The report occurred after Saylor resigned as CEO of MicroStrategy, when the company's stock fell nearly 50% since the beginning of the year and reported a loss of $1.44 billion. The price of BTC was also only about $20,000, and then fell to $16,000 during the FTX crisis. Many media and analysts are pessimistic about the future of MicroStrategy, believing that Saylor's bold BTC bet may ultimately lead the company into trouble.

However, Saylor clearly has confidence in the long-term value of BTC and has taken practical action to counter these doubts.

Image source: X MicroStrategy founder Michael Saylor responded to The Wall Street Journal and continued to bet on Bitcoin.

BTC price hits new high, MicroStrategy's investment returns exceed 10 billion

Entering 2024, BTC price has experienced a strong Rebound, recently breaking through to $81,889, setting a new all-time high. BTC has risen by over 3% in the past 24 hours, and by 16% in the past seven days. MicroStrategy's stock performance is even more remarkable, rising by over 300% since the beginning of the year, outperforming BTC.

MicroStrategy's BTC investment returns have exceeded $10 billion. The company currently holds 252,220 BTC, which is worth over $18.91 billion at the current price of about $75,000 per coin. Considering that the company's average purchase price is about $39,266 per coin, more than half of it is unrealized profit.

Saylor praised the performance of BTC on social media and called Trump the 'BTC president,' congratulating him on his victory in the election. Many analysts attribute the recent strong rise of BTC to Trump's victory, expecting the new government to adopt a more friendly policy towards cryptocurrency.

MicroStrategy continues to expand Bitcoin Holdings, looking to the future

MicroStrategy not only satisfies the existing investment returns but also plans to significantly increase BTCHoldings in the next three years. On October 30, 2024, the company announced plans to raise $42 billion in the next three years to purchase BTC, a plan called the '21/21 Plan'. The company plans to raise $21 billion through stock issuance and another $21 billion through fixed-income securities from 2025 to 2027.

Saylor said, "We basically create leverage by entering the convertible bond market. Over time, we will explore the fixed income market and consider issuing preferred stock, which are essentially an exchange."

The company's goal is to hold 106 to 110 BTC per share in the next three years. As of 2024, MicroStrategy has already achieved holding 118 BTC per share.

Image source: Michael Saylor Michael Saylor metaphorically refers to MicroStrategy as a BTC vault.

Saylor also predicts that more countries will use BTC as national reserve assets in the future. He believes that the value and status of BTC will be further enhanced. However, he also pointed out that some countries, such as the United States and Canada, still hold a conservative attitude towards cryptocurrency and may need to go through a series of legal discussions to accept BTC as reserve assets.

At the same time, European countries are beginning to pay attention to the new MiCA framework, which may bring legitimacy and new status to encryption assets. Countries like Norway are considering whether additional regulatory measures are needed to promote financial stability.

Disclaimer: The market is risky and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are applicable to their specific situations. Investing based on this is at your own risk.