$BTC Michael Saylor explained why he started investing in Bitcoin #BTC

For Saylor, Bitcoin became a salvation from the monetary chaos that engulfed the world during the COVID-19 pandemic

The founder of Strategy (formerly MicroStrategy) Saylor explained what prompted him to invest corporate reserves in Bitcoin (BTC) in 2020.

What changed Michael Saylor's views

In 2018, Saylor called cryptocurrencies a scam, but by 2020 his company MicroStrategy made its first investment in Bitcoin. In August of that year, the firm purchased 21,454 BTC for $250 million.

The CEO of the firm, Michael Saylor, noted in an interview with Jordan Peterson that the key reason that made him believe in Bitcoin was the COVID-19 quarantine restrictions. At that time, the U.S. Federal Reserve (Fed) activated aggressive monetary policy, which the head of Strategy called a 'war on currencies.'

According to Saylor, the Fed's actions led to an economic divide. Small and medium-sized businesses were on the brink of survival due to forced lockdowns. Meanwhile, large investors became richer amid the hyperinflation of financial assets caused by excessive money printing.