MicroStrategy CEO Michael Saylor’s decade-old tweet expressing skepticism about Bitcoin has resurfaced, highlighting the remarkable shift in his attitude towards the cryptocurrency. In the tweet, Saylor warned about the potential regulatory threats that could lead to Bitcoin’s demise. However, over the past ten years, Bitcoin has not only survived but has become the fastest-growing asset class of the 21st century.

Saylor, who was paying attention to Bitcoin’s growth, steered his company towards becoming one of the largest institutional investors in the cryptocurrency. MicroStrategy, known for its enterprise analytics and mobility software, pivoted to Bitcoin investing in 2020 and has since accumulated a substantial Bitcoin portfolio.

During Q3 2023, MicroStrategy added 6,067 Bitcoins to its portfolio, bringing the total to 158,400 BTC. The company’s aggressive acquisition strategy seems to have paid off, as the current Bitcoin price of around $37,700 has resulted in a profit margin of approximately $1.3 billion for MicroStrategy.

In addition to building its Bitcoin portfolio, MicroStrategy is also exploring Bitcoin-related services. The company announced the development of an enterprise plugin for Bitcoin’s Lightning Network in 2022, demonstrating its commitment to integrating and leveraging Bitcoin technology in its business operations.

MicroStrategy’s journey reflects the evolving dynamics of the crypto market and has positioned the company as one of its most successful players. The story serves as a testament to the potential of Bitcoin as an asset class, even in the face of market fluctuations.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	very positive
Relevance Score	1
People	Pete Rizzo, Michael Saylor
Companies	MicroStrategy
Currencies	Bitcoin
Securities	None