MicroStrategy and its CEO, Michael Saylor, have played a significant role in news headlines about bitcoin since he transformed the company from a software firm into primarily a bitcoin play. That worked well for a while, but in 2022, things haven't gone so well.
In fact, MicroStrategy has lost $2 billion on its bitcoin bet so far, but Saylor remains resolute on the cryptocurrency.
Q2 2022 hedge fund letters, conferences and more
A Moment Of Truth
Saylor bought about $4 billion in bitcoin for MicroStrategy, which was a $500 million software company two years ago. It was a publicly listed, low-growth, mid-sized company with about $500 million in cash yielding 0% interest....
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