Strategy Executive Chairman Michael Saylor said in an August 6 interview with Fortune’s CEO Diaries that he used ChatGPT to help design a Bitcoin-based preferred stock financing plan, ultimately helping the company raise approximately $15 billion through IPOs and related offerings. He said AI “created $15 billion in wealth for him.”
ChatGPT Helped Strategy Design Bitcoin-Based Preferred Stock
According to Fortune, Saylor said that after Strategy tried more traditional financing methods to purchase cryptocurrency, it turned to ChatGPT for help designing a Bitcoin-based preferred stock offering. Because no one had previously developed a similar product, lawyers and bankers were initially skeptical.
Ultimately, Strategy raised approximately $15 billion through IPOs and related offerings, with Saylor saying that AI “created” $15 billion in wealth “for him.”
Saylor’s View on AI Tools: Ask Better Questions Instead of Performing Tasks Machines Can Handle
According to the CEO Diaries interview, Saylor’s core advice is as follows: Do not try to perform tasks that machines can complete. “You don’t want to learn how to do things artificial intelligence can do. You want to figure out how to get artificial intelligence to do things that have never been done before,” he said. He explained that if people want to change the world, they should not simply repeat the same things over and over or resist the modern wave of automation.
Microsoft CEO Satya Nadella has said that AI technology is like a “copilot,” helping people accomplish more with fewer resources. Billionaire Mark Cuban has said that entrepreneurs who know how to use AI to solve problems can create unprecedented wealth.
Strategy Stock’s 38% Decline and Structural Risks Linked to Bitcoin
According to Fortune, Bitcoin has fallen 26% this year, while Strategy stock has declined 38%. Fortune’s Shawn Tully described the leverage effect between this structure and Bitcoin’s price as “very dangerous.”
Forbes currently estimates Saylor’s net worth at $3.3 billion. Against this historical backdrop, Saylor has also suffered major financial setbacks:
2000 Accounting Scandal: MicroStrategy was forced to restate its financial results.
$6 Billion Lost in 24 Hours: After the scandal came to light, Saylor lost $6 billion in a single day—the largest personal loss within a 24-hour period at the time.
SEC Settlement: The SEC accused Saylor of violating federal securities laws. Saylor ultimately paid $8 million to settle the case but never admitted any wrongdoing.
FAQ
How did Saylor use ChatGPT to help Strategy raise $15 billion?
According to Fortune, Saylor said that after encountering difficulties with traditional financing methods, he turned to ChatGPT to design a Bitcoin-based preferred stock financing plan. Despite initial skepticism from lawyers and bankers, Strategy ultimately raised approximately $15 billion through IPOs and related offerings.
How has Strategy stock performed this year?
According to reports, Strategy stock has fallen 38% this year, while Bitcoin has declined 26% over the same period. Fortune called the leverage effect between this structure and Bitcoin’s price “very dangerous,” and Forbes estimates that Saylor’s net worth is $3.3 billion.
What is Saylor’s core advice on AI tools?
According to the CEO Diaries interview, Saylor advises against trying to perform tasks that machines can handle. The advantage in the AI era lies in asking better questions and having AI do things that have never been done before, rather than simply automating existing tasks.
