If you are in the crypto space, you’ve heard of Michael Saylor. Here’s more about him and how he has been influential for Bitcoin. Covered: Michael Saylor’s Early Life MicroStrategy Bitcoin Investments (The Michael Saylor Way)  Michael Saylor’s Early Life Michael J. Saylor is a native of Lincoln, Nebraska, and was born on February 4, […] The post Who is Michael Saylor? appeared first on CryptosRus.

Who is Michael Saylor?

If you are in the crypto space, you’ve heard of Michael Saylor. Here’s more about him and how he has been influential for Bitcoin.

Covered:

  • Michael Saylor’s Early Life
  • MicroStrategy
  • Bitcoin Investments (The Michael Saylor Way)

 Michael Saylor’s Early Life

Michael J. Saylor is a native of Lincoln, Nebraska, and was born on February 4, 1965. He spent the early years of his life as a military son, accompanying his father at various Air Force bases around the world. When he turned 11, his family finally settled down near the Wright-Patterson Air Force Base in Fairborn, Ohio.

Saylor obtained an Air Force RTC scholarship and enrolled at the Massachusetts Institute of Technology (MIT) in 1983. He met the co-founder of MicroStrategy (Sanju K. Bansal) there through them both being members of the Theta Delta Chi fraternity, and he was able to graduate in four years with a double major in aeronautics and astronautics; science, technology, and society.

He wanted to be a pilot, but a medical condition prevented that, so he got a job with a consulting firm called The Federal Group in 1987. He was able to focus on simulation modeling for a software integration company, which spring-boarded his next steps. The next year, he was hired as an internal consultant at DuPont, where he developed computer models to help anticipate change in key traditional markets. He predicted some key recessions in certain markets for Dupont, and was able to transfer that over to Microstrategy.

MicroStrategy

With the funds from DuPont, Michael Saylor founded MicroStrategy with his fraternity partner, and the company began data mining focused on software business intelligence. Eventually, their company won a $10 million dollar contract with McDonald’s, which was focused on developing applications to understand the efficiency of McDonald’s promotion system.

This contract was important, because it led Saylor to believe that his company could ensure companies to use their own data for insights into their businesses via business intelligence software. MicroStrategy went public in 1998, and its initial stock offering went well and sold 4 million shares at $12 each. By the early 2000’s, his net worth was over $7 billion.

Saylor did run into some trouble in March of 2000 when the SEC brought charges against Saylor and two other MicroStrategy executives for the company’s inaccurate reporting of financial results for the previous two years. He settled with the SEC without admitting he did anything wrong for  $350,000 in penalties and a personal disgorgement of $8.3 billion.

Bitcoin Investments (The Michael Saylor Way)

In July of 2020, Saylor announced during a quarterly earnings conference that MicroStrategy was exploring purchasing gold, Bitcoin, or other assets instead of holding on to a boat load of united states dollars. The next month, MicroStrategy purchased $250 million worth of Bitcoin from its cash stockpile.

In September of 2020, he added another $175 million, followed by $50 million worth of Bitcoin in early December of 2020. Following these initial purchases, MicroStrategy continues to buy, buy, and buy more. To make it even more convenient for the Bitcoin community to track Michael Saylor’s buys, he posts them on Twitter. MicroStrategy now holds a total of 129,218 bitcoins valued at around $5.3 billion, with Bitcoin’s current price hovering around $41,000.

Microstrategy hasn’t sold any Bitcoin to date, and Michael Saylor believes that Bitcoin is the solution to all of the World’s monetary problems, so it is expected that MicroStrategy will continue to accumulate more Bitcoin.

Overall, Michael Saylor is an American entrepreneur, executive, inventor, author, and philanthropist who is really just an all-out Bitcoin bull. It has been great for the Bitcoin community, as his exposure and outwardness towards Bitcoin continues to bring big players in.

 

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