#SaylorBTCPurchase Last summer, no one in the crypto industry knew who Michael J. Saylor was. Just a year later, his words carry significant weight — and the power to influence the price of Bitcoin.

It all started on August 11, 2020, when the CEO of MicroStrategy announced that the Nasdaq-listed company was making long-term investments of $250 million in Bitcoin.

He described Bitcoin as a "reliable store of value and an attractive investment asset with greater long-term growth potential than holding cash."

Most importantly, these four words — "reliable store of value" — are magic words on Wall Street. A store of value is an asset that will be worth as much or more over time, rather than depreciating — gold is the oldest and most reliable. And with the U.S. Treasury printing trillions of dollars to fund stimulus spending.