Friends and supporters of BTC #5: cofounder of MicroStrategy Michael Saylor
Entrepreneur, he is MicroStrategy cofounder, a company that provides business intelligence, mobile software, and cloud-based services. He is also author of the book “The Mobile Wave”. He founded & serves as trustee for the Saylor Academy, a non-profit organization that has provided free education to over 1 million students.
Saylor served as MicroStrategy’s chief executive officer from 1989 to 2022. On August 8, 2022, the company announced that “Michael Saylor will assume the new role of Executive Chairman and Phong Le, the Company’s President, will also serve as the Company’s new Chief Executive Officer and as a member of the Board of Directors. Mr. Saylor will remain the Chairman of the Board of Directors and an executive officer of the Company.”
In his tweet of June 29, 2022, Saylor announced that MicroStrategy has purchased an additional 480 Bitcoins for $ 10 million at an average price of $ 20,817 per Bitcoin, as you can see in a Form 8-K filing with the United States Securities and Exchange Commission (SEC).
MicroStrategy now holds 129,699 BTC, making it the largest corporate holder of Bitcoin.
Saylor was heavily criticized for his views on Bitcoin. Some criticisms have also come from his company, because according to his detractors he would expose MicroStrategy to a sure bankruptcy. Saylor responded to the criticism with a tweet, saying that “when MicroStrategy adopted a Bitcoin strategy, it anticipated volatility and structured its balance sheet so that it could continue to HODL through adversity.”
A few days ago Michael Saylor was accused of evading $ 25 million in taxes. According to D.C. Attorney General Karl Racine MicroStrategy conspired to help Saylor evade the taxes. The AG’s office said it’s seeking to recover a total sum of over $ 100 million in unpaid taxes and penalties. Saylor allegedly claimed to reside in Virginia or Florida, which have lower or no personal income tax rates, while actually living in several different homes around D.C. MicroStrategy has released a statement on this lawsuit: “The case is a personal tax matter involving Mr. Saylor. The Company was not responsible for his day-to-day affairs and did not oversee his individual tax responsibilities.”
For Cryptocurrencies enthusiasts Saylor is an idol because he is a true Bitcoin evangelist. As can be seen from his Twitter profile, he pinned a tweet that confirms his faith in Bitcoin.
There are many videos on YouTube that summarize Saylor’s philosophy and I have chosen two in particular. In the first, he recommends buying Bitcoin instead of gold.
https://youtu.be/59QWemIk0_Y
In the second one, he talks about Bitcoin, inflation and the future of money.
https://youtu.be/mC43pZkpTec
A winner is a dreamer who never gives up.
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