Michael Saylor, Chairman, and CEO of MicroStrategy, recently tweeted in support of Bitcoin, taking a dig at critics of Bitcoin. He said in his tweet that all the deniers who used to think that Bitcoin was a mirage too good to be true have nearly disappeared.
Skeptics who say that bitcoin is so good that the government will ban it are losing credibility.
Traders and technocrats struggle as they set the market price and debate proper portfolio allocations, while maximalists enthusiastically educate the world, build new applications, and sweep free cash flows into bitcoin.
Deniers have nearly disappeared. Skeptics are losing credibility. Traders and Technocrats struggle as they set the market price & debate proper portfolio allocations. Maximalists enthusiastically educate the world, build new applications, and sweep free cash flows into #bitcoin. https://t.co/lqebOoJpCE
— Michael Saylor⚡️ (@saylor) April 18, 2022
Michael Saylor and Bitcoin
Since 2011, Saylor’s BTC acquisition strategy has expanded to include the use of proceeds from debt and equity transactions.
In August of 2020, the business intelligence firm MicroStrategy began accumulating bitcoin through the excess cash flow generated by its business activities.
More bitcoins were later bought by using convertible notes, stock offerings, and crypto-collateralized loans to increase the company’s treasury’s pace of accumulation.