Yes, I lost $4 billion on Bitcoin — but I didn't sell.....
In 2022, when Bitcoin collapsed, headlines were everywhere:
"Michael Saylor is about to get liquidated."
People thought it was over for me. They said MicroStrategy had taken too big of a risk. They looked at the charts and calculated 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 scared. Because I had planned for this storm. I knew Bitcoin would be volatile, I knew the critics would gather, but I also knew one thing: conviction without preparation is just gambling.
So I told the world:
"MicroStrategy has a $205 million loan and needs to maintain $410 million as collateral. We have 115,109 Bitcoins that we can pledge. If the price of Bitcoin drops below $3,562, we can provide some additional collateral. We anticipated the volatility and structured our budget so we could continue to hold the asset in the face of adversity."
That wasn't panic on my part. That was a reminder to everyone why I was here.
Because the secret is not in looking smart at the top.
It's about surviving at the bottom.
I didn't panic. I didn't sell. I held on.
And I still do.
— Michael Saylor
