I have to admit that for decades, I believed that Michael Saylor is a nutcase. He has a very peculiar history.

History: Michael Saylor lost it all during the dot-com bubble

He lost it all before. During the dot-com bubble, Saylor "saw a staggering $13.53 billion vanish". He was afraid that he would forever be called "the guy who flushed $15 billion down the toilet".

https://preview.redd.it/2dox9q1ujl8b1.png?1200&format=png&auto=webp&s=d60065531e38880ee6133983212840281b0ffc4e

Why? Well Microstrategy, his company, did this:

https://preview.redd.it/7p4xmw2tjl8b1.png?1223&format=png&auto=webp&s=44240fdaf4d107ac5ea1e5c32af27a21372455d1

Yes that is a near -100% (99.9%). This chart looks worse than almost all the shitcoins out there. From over $3300 to $4.

Microstrategy even did a -62% in a single day because of accounting mistakes, which is why he was accused of Fraud by the SEC. After the dot-com bubble burst, Jim Cramer pointed to the collapse of MicroStrategy as a catalyst.

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Now: Saylor's big bet on Bitcoin

Since 2020, Saylor has been betting big on Bitcoin. He started accumulating in 2020 due to the fear of inflation. In total, microstrategy has 138955 Bitcoin. The company's average buy price is $29817, so they are now in profit. The biggest wallet looks like this:

https://preview.redd.it/6yue315pll8b1.png?906&format=png&auto=webp&s=c8127ecc9abdbc2e7c567fe36b1bed374c1e10cd

Admittedly, I always thought buying this much Bitcoin was insane, no matter how much I love Bitcoin. It's like going all-in and I would never do that.

But what made me view him as crazy even more is his behavior. He sets crazy moon prices and shares daily inspirational Bitcoin posts, almost like a crazy cult leader.

https://preview.redd.it/1cmh2kzjml8b1.png?777&format=png&auto=webp&s=a15633835b80d47cb5767142035432a6e644b165

https://preview.redd.it/p2nk39kpml8b1.png?633&format=png&auto=webp&s=b061a921c3a44782ebd0706ea93c1a9a9aa0d077

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But, while last crypto cycle we said that institutions would come for Bitcoin yet only a few did, now major institutions are arriving:

https://preview.redd.it/rykb7py8nl8b1.jpg?1270&format=pjpg&auto=webp&s=3a1f549f98c127c618fd468a296b2b6a8e95914d

If all the ETfs get approved, Michael Saylor's bet on Bitcoin will likely pay off massively and he will become one of the wealthiest people on the planet. Let's hope for all of us that Saylor is right because that is also really good for our bags.