The rise of Michael Saylor, CEO of MicroStrategy, in the Bitcoin community is drawing criticism from some who compare his BTC-buying tactics to those of Do Kwon, the founder of Terra and Luna Foundation Guard in 2022. While there is no evidence of any wrongdoing by Saylor, the comparison focuses on Kwon's unsuccessful attempts to acquire 1 million BTC to support his stablecoin UST. Both Saylor and Kwon made bullish forecasts about the potential of BTC-backed products and services, with Saylor aiming to establish MicroStrategy as a leading Bitcoin bank. Despite the comparisons, there are few meaningful similarities between Saylor and Kwon, and MicroStrategy's BTC holdings far exceed that of Luna Foundation Guard.



Other News from Today