Michael Saylor – CEO of MicroStrategy – is famously known as a "bitcoin bull" and is currently one of the largest individual and corporate investors in Bitcoin worldwide. However, few know that Saylor was once a critic of Bitcoin before becoming one of its strongest supporters.
🪡 How did Michael Saylor criticize Bitcoin?
In 2013, Michael Saylor tweeted criticizing Bitcoin, stating that "Bitcoin's days are numbered," similar to many other skeptical opinions at that time. Specifically, he wrote:
> "Bitcoin’s days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling."
(The end of Bitcoin is near. It's only a matter of time before it meets the same fate as online gambling.)
This statement reflects skepticism about the long-term sustainability and legality of Bitcoin, at a time when Bitcoin was still not popular, with prices below 1000 USD/BTC, and many people did not fully understand the nature of 'cryptocurrency.'
✔️ The process of changing perspectives and becoming a Bitcoin enthusiast
1️⃣. In-depth research on macroeconomics and Bitcoin
Around 2019-2020, amid the global economic instability due to Covid-19 and monetary stimulus packages causing high inflation, Michael Saylor began searching for a solution to protect corporate assets from the depreciation of fiat currency (USD). He delved deeply into the nature of Bitcoin, especially its scarcity, transparency, decentralization, and unregulatable characteristics.
2️⃣. Make a significant investment decision in Bitcoin
After a period of research, he concluded that "Bitcoin is the best asset ever invented for storing value." In August 2020, MicroStrategy announced the purchase of 21,454 BTC, worth about 250 million USD at that time. He then continued to direct the company to continuously buy more Bitcoin, making MicroStrategy and himself legends actively promoting Bitcoin.
3️⃣. Support and passionately promote Bitcoin
From that point on, Saylor continuously spoke out, participated in seminars, organized events — even guiding other business executives to buy and store Bitcoin. He became one of the leading voices advocating for Bitcoin globally, once calling Bitcoin the “property rights of 8 billion people.”
✅Summary
Michael Saylor once criticized Bitcoin for not recognizing its core value. However, after a deep dive into macroeconomics and the nature of Blockchain technology, he changed his mind 180 degrees and became one of the biggest enthusiasts and played a significant role in promoting Bitcoin to the global business community.
✔️Saylor's later notable quote:
> "I’d rather have Bitcoin than a billion dollars in cash."
> (I’d rather own Bitcoin than hold a billion dollars in cash.)