How did Michael Saylor Become Richest From Crypto?
Bitcoin bull Michael Saylor nets $700 million in gains on 3-day pop in crypto and MicroStrategy. MicroStrategy Chairman Michael Saylor is about $700 million richer after the three-day pop in his company's stock and the price of bitcoin. Saylor is MicroStrategy's biggest investor, owning about 12% of the company.
Saylor had an impressive career years before he started investing in Bitcoin seriously. His work creating innovative business intelligence solutions earned him awards from MIT Technology Review and other prestigious organizations. Saylor spent three decades as MicroStrategy's CEO.
One of the best-known executives of the Internet bubble, Saylor was a multibillionaire in the late 1990s thanks to his stake in MicroStrategy. He fell from the billionaire ranks after questionable accounting led to a restatement of financial results and the dot-com bust crashed the stock.
Founded in 1989, MicroStategy has a business in enterprise software and cloud-based services, but its shareholder value is almost entirely tied to its bitcoin ownership, effectively making the company a proxy for the world's biggest cryptocurrency. During MicroStrategy's latest earnings call on Feb.
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