Michael Saylor Bet Billions on Bitcoin and Lost – WSJ

If you ask Michael Saylor why he bet the future of his company on bitcoin, he ll tell you he didn t have a choice.

In 2020, MicroStrategy Inc. s MSTR 12.73%² stock was stagnant, and the tech company struggled to compete with software giants. We were either going to die a fast death, or a slow death, or embark on a risky strategy, he said.

He opted to buy bitcoin lots of it. That decision backfired, badly. On Tuesday, MicroStrategy announced Mr. Saylor would step down as CEO, a position he has held since 1989, amid mounting losses tied to bitcoin.

via www.wsj.com

Bitcoin is down now, but it may not stay down.