Yes, I lost $4 billion in Bitcoin - but I didn't sell...
In 2022, when Bitcoin collapsed, headlines spread everywhere: "Michael Saylor is about to be liquidated."
People thought it was over for me. They said MicroStrategy had taken too much risk. They looked at the charts and counted my losses - over $4 billion on paper.
And you know what? They weren't wrong about the numbers. But here’s the part they didn’t understand...
I wasn’t afraid. Because I had planned for this storm in advance. I knew Bitcoin would be volatile, and I knew critics would surround me, but I also knew one thing: conviction without preparation is gambling. So I told the world: "MicroStrategy has a fixed-term loan of $205 million, and you need to keep $410 million as collateral. We have 115,109 Bitcoin that we can pledge. If Bitcoin’s price falls below $3,562, we can provide more collateral. We anticipated the volatility and structured our balance sheet to be able to hold on through adversity."
This didn’t worry me; rather, it reminded me all the more why I am here.
Because the secret isn’t in looking sharp at the top,
but in surviving the bottom.
I wasn’t panicked. I didn’t sell. I held on.
And I still do.
—Michael Saylor
Quoted...
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