History repeats: Saylor’s billion-dollar bet is backfiring just like before
The man who made one of the boldest corporate Bitcoin bets in history is now watching his strategy unravel in real time. Michael Saylor, the founder of MicroStrategy, has racked up a staggering $1.95 billion in losses on his latest Bitcoin purchases. That’s not a typo. The self-proclaimed high priest of Bitcoin, who spends his days preaching its inevitable rise to CNBC and social media, is staring down a financial reckoning.
Why is he making the rounds on every media platform? Simple. The walls are closing in. His company, MicroStrategy, is heavily leveraged in Bitcoin, and if prices dip below $60,000, the firm will be in deep trouble. A forced sell-off at these levels could send the crypto market into a full-scale panic, triggering the kind of collapse that only the biggest Bitcoin skeptics have dared to predict.
Saylor is no stranger to spectacular financial wipeouts. Back in the dot-com era, he was infamously crowned the worst trader in the world, his net worth imploding by 99.99% after his tech empire crumbled. Now, history is rhyming. The same man who crashed and burned during the last major speculative bubble is once again at the helm of a ticking financial time bomb.
And yet, the Bitcoin evangelist keeps promising the moon. He insists that Bitcoin’s market cap will reach $20 trillion, then $200 trillion, numbers so detached from reality they sound like lottery fantasies. But when you’re holding the bag on billions in unrealized losses, what else can you do but try to keep the dream alive?
Despite Bitcoin’s explosive run, MicroStrategy has only managed to squeeze out a 15% gain on its holdings—a pitiful return considering the massive risk taken. While retail investors pile in, hoping for another leg up, Saylor has already been selling shares of his company’s stock. He’s been here before.
Is this the beginning of the end for the Bitcoin bubble? The market is already showing cracks. If MicroStrategy starts dumping Bitcoin, it won’t just be another dip. It will be a fire sale, and those still clinging to Saylor’s vision might finally realize they were sold a dream while he was quietly cashing out.
Sources:
https://x.com/JacobKinge/status/1896637241147146414
https://x.com/goldseek/status/1896866031068704870
https://x.com/great_martis/status/1896712913773302197
https://x.com/KobeissiLetter/status/1896718215109111820