Michael Saylor’s Bitcoin Insight at $20,000 Remains Relevant: Details by U.Today

Title: Michael Saylor’s Vision for Bitcoin Two Years Ago

Two years ago, Michael Saylor, the chairman and cofounder of MicroStrategy, made a significant declaration about Bitcoin’s potential. Recently, Bitcoin historian Pete Rizzo highlighted Saylor’s bold statement, where he claimed, "Bitcoin’s economic function is to provide property rights to 8 billion people."

This statement was particularly timely, emerging during a bear market driven by macroeconomic factors and significant issues within the cryptocurrency sector, notably following the collapse of Terra Luna in May 2022. At that point, Bitcoin was trading at approximately $20,000.

Saylor’s assertions underline Bitcoin’s capacity to transcend speculative investment, emphasizing its transformative role in securing decentralized property rights for individuals worldwide. Since his statement, Bitcoin has experienced tremendous growth, increasing more than threefold to around $67,202.

Bitcoin’s Surge Since Saylor’s Investments

Saylor began investing in Bitcoin in 2020 as a hedge against inflation and a viable alternative to cash. His company, MicroStrategy, has actively entered the debt market to acquire more Bitcoin, spending over $2.4 billion on the cryptocurrency in 2024 alone. Currently, MicroStrategy holds 226,331 Bitcoin, valued at over $13.3 billion. This represents a 600% increase since Saylor’s initial investments began in 2020. During the same period, MicroStrategy’s stock has soared nearly 1,000%, with the company having invested a total of $8.3 billion in Bitcoin, resulting in an impressive 80% increase in its asset value.

Not long ago, MicroStrategy, recognized as the largest publicly traded corporate holder of Bitcoin, announced a 10-for-1 stock split to enhance share availability for investors and employees.