MicroStrategy co-founder Michael Saylor has reacted to Bitcoin hitting one more file excessive by taking a jab at The Wall Avenue Journal (WSJ) in his latest social media submit.
Saylor has recalled the notorious Wall Avenue Journal article about how he “guess billions on Bitcoin and misplaced.”
The doom-laden article, which was revealed in August 2022, got here out after Saylor left his CEO position. The corporate’s shares have been down almost 50% on a year-to-date foundation again then after it reported a painful $1.44 billion loss.
An analyst quoted by the WSJ predicted that MicroStrategy may find yourself struggling to repay its collectors.
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Again then, Bitcoin was altering arms at simply $20,000. Later that yr, the main cryptocurrency ended up plunging to as little as $16,000 through the FTX disaster.
The WSJ shouldn’t be the one media outlet that was bearish on MicroStrategy. In August 2022, Fortune wrote that Saylor’s audacious Bitcoin guess may sink him “as soon as and for all.”
The businessman, who based MicroStrategy on the age of 24, isn’t any stranger to setbacks. After all, he famously misplaced as a lot as $6 billion in a single day in 2000 after the MicroStrategy inventory plunged resulting from accounting points.
Nonetheless, Saylor was clearly enjoying the lengthy sport with Bitcoin. In 2024, the cryptocurrency is already up greater than 80% on a year-to-date foundation. In the meantime, the MicroStrategy (MSTR) inventory has outperformed Bitcoin, surging by greater than 300% over the aforementioned time frame.
As reported by U.In the present day, the enterprise intelligence agency intends to buy $42 billion price of Bitcoin sooner or later.
Earlier in the present day, Bitcoin hit a brand new file excessive of $76,677.