When Michael Saylor first got into Bitcoin, I wanted to do more research into his background, and see what other investments he’s made. Mainly to see how they played out, and analyze his investment track record.
It’s always essential to “Don’t Trust, Verify” and do your own research on public figures, cryptocurrencies, stocks, and everything else.
After scouring the internet for information that could verify his track record, and better paint an image of who exactly this guy was, I ended up stumbling across a 20-year old archived article called “The Billion-Dollar Losers Club: Think your stock losses were huge? Imagine being one of these guys” written by Fortune Magazine.
By using Thompson Financial and Bloomberg data, they came up with a list of who got hit the hardest during the tech bubble. Ranked at the first place was none other than Michael Saylor who lost $13.53 billion, which was the largest and fastest financial loss ever (at the time).
His investment failures came from years of negligent accounting practices, fraud, and overall terrible leadership.
It’s clear his company’s valuation is solely based on his ability to attract hype by engaging in popular “trends”, which we saw with their eagerness to be at the center of the dot-com bubble, and now with the Bitcoin bubble.
Fact: SEC accuses Michael Saylor of Fraud in the 2000s.
Michael Saylor’s entire company was built on deception. The dotcom hype helped carry his stock from $30 to over $3000 in just a few years, but that all reversed (-99.9% crash) when the company was forced to restate its accounting data, which had all of the profits they’ve ever claimed to have made, erased.