Recently, there are times that make me reconsider Michael Saylor's recent activities. As the chairman and co-founder of MicroStrategy, he is not just a businessman but a person who has caused a significant ripple in the institutional investor world as one of Bitcoin's strongest supporters.

Michael Saylor began seriously engaging with Bitcoin in August 2020. At that time, the world was in the midst of the COVID-19 pandemic, and he was concerned that cash assets would diminish due to inflation. His decision at that time would greatly shape MicroStrategy's strategy today. It started with an investment of $250 million, but subsequent developments exceeded many people's expectations.

Bitcoin, which Michael Saylor calls "digital gold," to him, is not just an investment product but the rarest asset to protect wealth from inflation. In fact, as of November 2024, MicroStrategy held over 330k Bitcoins. They have continued to buy more, and their current holdings are likely to have increased further.

What is particularly interesting is the funding method adopted by Michael Saylor and MicroStrategy. They used convertible bonds to raise several billion dollars to purchase Bitcoin. In October 2024, they announced a plan to raise $42 billion, and in November, they issued about $2.6 billion in convertible bonds. This is a bold strategy and also involves high risk.

The impact of Michael Saylor's approach on the market cannot be overlooked. Major companies like Tesla and Square have also started investing in Bitcoin. It is because of his actions and assertions that institutional investors have begun to treat Bitcoin seriously as an asset.

As Bitcoin prices fluctuate, MicroStrategy's financial situation is closely tied to BTC prices. When prices plummeted sharply in 2022, they faced margin call risks. Still, Michael Saylor did not waver in his conviction and continued to buy more using dollar-cost averaging for the long term. His average purchase cost was about $50k per Bitcoin, but the current BTC price exceeds $80k. This demonstrates the correctness of his judgment.

Michael Saylor's net worth exceeded $11 billion as of November 2024. The stock price of MicroStrategy had risen over 450% by 2024, illustrating how highly his strategy is valued in the market.

As Bitcoin becomes more integrated into mainstream finance, Michael Saylor will likely continue to hold significant influence. For him, Bitcoin is not just a business strategy but a deep belief in decentralized financial systems. Whether seen as a visionary or a risk-taker, his presence at the forefront of finance and cryptocurrencies cannot be denied.