Michael Saylor: Visionary Entrepreneur And Bitcoin Advocate—Profile & Biography
Who Is Michael Saylor?
Key Takeaways
- Michael Saylor is the co-founder and executive chairman of MicroStrategy, a prominent business intelligence company, and a leading advocate for Bitcoin investment.
- MicroStrategy holds over 226,500 Bitcoin, making it a major public holder of the cryptocurrency.
- Saylor predicts BTC could reach $13 million per coin by 2045, with potential for even higher value.
- Saylor founded Saylor Academy, providing free online education to millions worldwide.
Michael Saylor is the CEO of MicroStrategy, a business intelligence firm, and a prominent advocate for Bitcoin (BTC). He is also committed to global education through the Saylor Academy, which provides free online courses to millions of students worldwide.
This article explains who Michael Saylor is, his background, advocacy for Bitcoin and impact on the cryptocurrency industry.
Saylor’s Early Life And Education
Michael Saylor attended the Massachusetts Institute of Technology (MIT) on an Air Force Reserve Officer Training Corps scholarship, earning dual degrees in Aeronautics and Astronautics and Science, Technology, and Society.
At MIT, the core curriculum for these degrees includes subjects in materials and structures, fluids and aerodynamics, thermodynamics, physics, dynamics, electronic signals, systems, circuits, propulsion, control systems, computer programming, and probability and statistics.
Students at MIT are generally expected to maintain a minimum cumulative GPA of 4.0 out of 5.0 for undergraduates and 4.4 for graduate students to meet degree requirements. The intense and rigorous nature of the program means that students must be highly dedicated and proficient to succeed.
Saylors’s academic foundation and passion for computer simulation technology to public policy and business strategy laid the groundwork for Saylor’s future entrepreneurial ventures.
Saylor’s Business Ventures
Saylor graduated with the highest honors in 1987; during this time, he wrote his thesis on “A Mathematical Model of a Renaissance Italian City State,” reflecting his fascination with system dynamics and completing flight officer training at the Air Force, where he learned to fly.
Saylor then began a career in consulting, focusing on computer simulations for strategic decision-making for major corporations like DuPont, Dow, and Exxon.
Founding MicroStrategy
In 1989, at just 24 years old, Saylor founded MicroStrategy, a company dedicated to enterprise intelligence. Saylor is the CEO of the business intelligence firm, MicroStrategy.
MicroStrategy grew steadily, going public in 1998 (NASDAQ: MSTR). Under Saylor’s leadership, MicroStrategy became a global leader in enterprise analytics and mobility software, serving thousands of organizations worldwide.
Innovations And Contributions
Saylor led MicroStrategy into web analytics, distributed analytics, mobile analytics, cloud computing, mobile identity, and the Internet of Things (IoT).
Saylor also founded Alarm.com (NASDAQ: ALRM) an early home automation and security company, and Angel.com, a cloud-based interactive voice response service provider sold to Genesys Telecommunications Laboratories for $110 million in 2013. He also owns the domain hope.com.
Author And Thought Leader
In 2012, Saylor published “The Mobile Wave: How Mobile Intelligence Will Change Everything,” predicting the transformative impact of mobile, cloud, and social networks on global politics and economics.
The book, which became a bestseller on both The New York Times and The Wall Street Journal lists, highlighted the rise of tech giants like Apple, Amazon, Facebook, and Google and their potential to disrupt traditional industries.
Philanthropy
In 1999, Saylor established The Saylor Foundation, a philanthropic organization supporting children’s health, refugee relief, education, environmental conservation, and the arts.
The foundation also runs the Saylor Academy, which provides free college education and professional development courses to students globally. To date, the academy has served over 2 million students.
Saylor’s Discovery of Bitcoin
In 2013, Michael Saylor was notably skeptical about Bitcoin, tweeting that its days were numbered. However, by 2020, his perspective had dramatically shifted as he began to see Bitcoin as a superior store of value compared to traditional assets.
Michael Saylor’s Bitcoin Journey
Saylor’s Entry Into Bitcoin
Saylor entered the Bitcoin space in August 2020 when his company, MicroStrategy, made its first significant investment by purchasing $250 million worth of Bitcoin. This marked a strategic pivot for MicroStrategy, emphasizing BTC as a primary treasury reserve asset.
Can MicroStrategy Stock Price Really Outperform Bitcoin?—CCN Reports
Why Did Saylor Shift To Bitcoin?
In various discussions, Saylor elaborates on his motivation for investing in Bitcoin, explaining that holding cash at zero percent interest was causing a 20% annual loss in value due to inflation, which he described as a slow death for the company.
Therefore, he required an asset that would appreciate faster than the rate of monetary depreciation. This decision marked a significant shift in the company’s strategy, aiming to preserve and grow its treasury assets.
Also, when asked at the Bitcoin Madeira conference, “What was the one topic that got you into Bitcoin?” Saylor replied, “money.” He saw Bitcoin as digital gold and a superior store of value with significant potential for gains.
How Did Saylor Execute the Bitcoin Strategy?
To execute this strategy, Saylor and his team evaluated a range of investment options, including art, real estate, and gold, before deciding on Bitcoin.
In August 2020, MicroStrategy issued a press release announcing their plan to invest $250 million in various assets to hedge against inflation, specifically mentioning Bitcoin as a key potential option.
Why Does Saylor Believe Bitcoin Is a Good Investment?
Saylor believes Bitcoin is a good investment because it is a reliable store of value with significant long-term appreciation potential. He argues that traditional currencies and assets like gold are prone to devaluation and seizure over time. In contrast, Bitcoin offers a way to move and preserve wealth through time and space without the same risks of depreciation or confiscation.
In one talk , he explained that by “time,” he meant Bitcoin’s ability to retain value over long periods despite inflation, and by “space,” he referred to Bitcoin as easy to transfer across geographical boundaries without the constraints and costs associated with physical assets.
What Are Saylor’s Future Plans With Bitcoin?
His long-term vision involves maintaining BTC as a primary treasury reserve asset for MicroStrategy, which reflects confidence and conviction on the idea of Bitcoin.
What Is Saylor Doing in 2024?
In 2024, Michael Saylor remains a prominent figure in the cryptocurrency world, particularly Bitcoin. At the Bitcoin 2024 conference in Nashville, Saylor forecasted that Bitcoin could reach $13 million per coin by 2045, urging investors to adopt a “triple maxi” strategy, which involves heavily investing in Bitcoin to maximize wealth.
Saylor’s 2045 Bitcoin Price Prediction
During the Bitcoin 2024 conference, Michael Saylor, the CEO of MicroStrategy, delivered a keynote speech in which he laid out a forecast for Bitcoin’s future. Saylor predicted that Bitcoin could reach a price of $13 million per coin by 2045 in a base case scenario.
He suggested that in a bear case, Bitcoin might still reach $3 million, while in a bull case, it could hit $49 million per coin.
Saylor has suggested that Bitcoin’s longevity might exceed expectations. Bitcoin stored with a custodian could last 1,000 years, self-custodied Bitcoin might endure for 10,000 years, and Bitcoin managed by AI could potentially persist for 100,000 years.
He also proposed that if the U.S. government were to secure most of the world’s Bitcoin, it would significantly strengthen the dollar, bolstering the nation’s economic position.
How Saylor Raises Money To Buy Bitcoin
Saylor raises money to buy Bitcoin for MicroStrategy by leveraging various financial instruments and strategies without selling any Bitcoin holdings.
One primary method is through the issuance of convertible notes and bonds. For example, a MicroStrategy Strategy has conducted debt offerings, raising millions of dollars by selling convertible senior notes. These notes are debt securities that investors can convert into company stock at a later date.
MicroStrategy’s stock, over the last four years, whilst volatile, making it a great environment for traders, has maintained a strong upward trajectory since 2020, benefiting from the overall growth in Bitcoin’s value and Saylor’s strategic acquisitions.
As of mid-2024, the stock was trading around $1,800, representing huge gains from its pre-Bitcoin strategy levels where the price was at $87.
How Much Bitcoin Does MicroStrategy Own?
MicroStrategy, under Saylor’s leadership, has continued to accumulate Bitcoin aggressively. The company now holds over 226,000 BTC, making it one of the largest public holders of Bitcoin globally.
The Scrutiny And Controversies Surrounding Saylor’s Bitcoin Advocacy
Michael Saylor’s aggressive promotion of Bitcoin and substantial investments through MicroStrategy has drawn scrutiny. Critics argue that his heavy reliance on Bitcoin exposes the company to excessive risk, particularly given the cryptocurrency’s volatility.
Additionally, some shareholders and financial analysts questioned the sustainability of his strategy, concerned about the potential impact on MicroStrategy’s financial stability and long-term growth.
In 2020, before initiating MicroStrategy’s significant investment in Bitcoin, Michael Saylor offered to buy out shareholders who were not on board with the strategy. Proposing to repurchase shares at $140 each, which was above the market price of around $121-$122 at the time.
This move provided shareholders a 20-day period to decide whether they wanted to exit the company at a premium before the $250 million Bitcoin acquisition took place. This strategy allowed Saylor to proceed with his Bitcoin plans with the support of remaining shareholders, opening MicroStrategy to become one of the largest corporate holders of Bitcoin in 2024.
Conclusion
Michael Saylor’s journey from a skeptic to a leading advocate for Bitcoin highlights his strategic vision and innovative thinking.
His background in technology and business, coupled with his leadership at MicroStrategy, underscores his commitment to leveraging digital assets to create long-term value.
Saylor’s bold predictions for Bitcoin’s future and his substantial personal and corporate investments in the cryptocurrency demonstrate his confidence in its potential to transform the financial landscape.
Additionally, his philanthropic efforts in education through the Saylor Academy reflect his dedication to global empowerment through accessible learning.
FAQs
As of mid-2024, MicroStrategy holds over 226,000 bitcoins, making it one of the largest public holders of Bitcoin globally. Initially skeptical, Michael Saylor dramatically shifted his view in 2020, recognizing Bitcoin as a superior store of value compared to traditional assets. Founded by Michael Saylor, the Saylor Academy provides free online education to millions worldwide, reflecting his commitment to global educational empowerment.How much Bitcoin does MicroStrategy currently own?
How did Michael Saylor's opinion on Bitcoin change?
What is the purpose of the Saylor Academy?
