MicroStrategy founder Michael Saylor made headlines in June 1998 when his stock surged over 70% on its debut, benefiting from the dot-com boom. In December 2024, Saylor was back in the spotlight, urging Microsoft to invest over $70 billion cash reserve into Bitcoin, which he believes is the next technology wave. MicroStrategy has invested heavily in Bitcoin since 2020, accumulating bitcoins, now valued at over $40 billion. Microsoft shareholders rejected his proposal. Critics have increasingly labeled Saylor, a cult-like leader, accusing him of using a "Ponzi loop" strategy by issuing debt and equity to buy bitcoin, boosting MicroStrategy's stock, and repeating the process.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02MicroStrategy founder Michael Saylor made headlines in June 1998 when his company's
00:06stock surged over 70% on its debut, benefiting from the dot-com boom.
00:11Now in December 2024, Saylor was back in the spotlight, urging Microsoft to invest over
00:17$70 billion cash reserve into Bitcoin, which he believes is the next technology wave.
00:22MicroStrategy has invested heavily in Bitcoin since 2020,
00:26accumulating Bitcoin now valued at over $40 billion.
00:30Microsoft shareholders rejected his proposal.
00:32Critics have increasingly labeled Saylor a cult-like leader, accusing him of using a Ponzi
00:37loop strategy by issuing debt and equity to buy Bitcoin, boosting MicroStrategy's stock
00:43and repeating the process.