Covid Lockdowns Birthed Strategy's Bitcoin Playbook
Michael Saylor, founder of Strategy, was motivated to invest in Bitcoin in 2020 due to Covid-era restrictions and US monetary policy. He described the situation as a “war on currency,” where pandemic lockdowns and low interest rates diminished the value of cash reserves. Saylor noted that while small businesses suffered, Wall Street thrived due to Federal Reserve money printing, leading to hyperinflation in financial assets. Faced with non-performing cash, he sought a liquid asset to preserve his wealth. Initially skeptical of Bitcoin, Saylor researched it and concluded it was a viable non-sovereign store of value. MicroStrategy purchased 21,454 BTC for $250 million in August 2020, becoming the largest corporate holder with 582,000 BTC valued at approximately $63 billion.
