Michael Saylor, co-founder of MicroStrategy, commented on Bitcoin's latest record value in his recent social media post, pointing out the Wall Street Journal's mistaken forecasts.
The Background of the WSJ Case
Saylor recalled the notorious Wall Street Journal article about his supposed failed Bitcoin investment, published in August 2022 after stepping down as CEO. At that time, MicroStrategy's shares had plummeted by nearly 50% year-to-date amid a report of a $1.44 billion loss.
Bitcoin and MicroStrategy's Fall and Recovery
Back then, Bitcoin was worth around $20,000, but it later dropped to as low as $16,000 during the FTX crisis. Now, in 2024, Bitcoin's price has risen by more than 80% year-to-date, and MicroStrategy’s stock has surged by over 300%.
Future Plans and Current Situation
MicroStrategy plans to purchase $42 billion worth of Bitcoin in the future. Today, Bitcoin reached a new record high of $76,677. Despite past setbacks, Saylor continues to advance his Bitcoin investments and remains committed to his long-term vision strategy.
Despite criticism and failed predictions, Michael Saylor continues to believe in Bitcoin's potential and his investment strategy, which has already yielded significant results.
