CandleFocus MicroStrategy's Saylor Mocks WSJ as Bitcoin Hits New Record High
2024-11-07
Author: Content Editor
MicroStrategy co-founder Michael Saylor responded to Bitcoin's new record high by mocking The Wall Street Journal's article in 2022 that claimed he had lost billions on the cryptocurrency. At the time of the article, MicroStrategy shares had dropped nearly 50%, and an analyst predicted the company would struggle to repay its creditors. Bitcoin also dropped to as low as $16,000 later that year. Saylor, known for his setbacks and losses, remained confident in Bitcoin and has seen a significant return on his investment, with the cryptocurrency up over 80% for the year. MicroStrategy's stock has also performed well, increasing by over 300%. The company plans to purchase $42 billion worth of Bitcoin in the future.
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