In 2022, when Bitcoin collapsed, headlines appeared everywhere:
“Michael Saylor is about to be liquidated.”
People thought everything was over for me. They said MicroStrategy had bet too big, too recklessly. They looked at the charts, calculated the numbers, and saw that I was 'losing' over 4 billion USD on paper.
And you know what? They are not wrong about the numbers. But here is what they don't understand...
I am not afraid.
Why? Because I had prepared for this storm beforehand. I knew Bitcoin would be highly volatile, I knew there would be critics surrounding me, but I also knew one important thing: Trust without preparation is just gambling.
I told the whole world back then:
“MicroStrategy has a loan of 205 million USD and needs to maintain 410 million USD as collateral. We hold 115,109 BTC that can be used as collateral. If the BTC price drops below 3,562 USD, we can supplement with additional assets. We anticipated the volatility and arranged our balance sheet to continue holding through all difficulties.”
That is not a panic statement. That is a reminder of why I am here.
Because the secret is not in looking smart when the market peaks.
The secret is to survive when the market hits the bottom.
I did not panic. I did not sell. I still hold.
And to this day, I still hold.
— Michael Saylor
