Crypto Bull Michael Saylor Pays Off $200M Loan and Buys More BTC
• Michael Saylor, the CEO of MicroStrategy, has paid off a $200 million loan and bought more Bitcoin units.
• In late March, Saylor issued a statement that MicroStrategy repaid its Silvergate loan at a 22 percent discount.
• The bear run of 2022 caused bitcoin prices to drop from its all-time high of $68,000 to mid-$16K range by the end of 2022.
Michael Saylor Pays Off $200 Million Loan
Michael Saylor – the man behind software giant MicroStrategy and a major crypto bull – has paid off a $200 million+ loan obtained from the now failed crypto bank Silvergate and has purchased even more bitcoin units, thus bringing the company’s total BTC holdings to nearly $4 billion.
Ongoing Bear Run in 2022
The ongoing bear run in 2022 caused bitcoin prices to drop from its new all-time high of $68,000 per unit (achieved in November of 2021) and dipping into the mid-$16K range by the end of 2022. This led to MicroStrategy suffering greatly as it was billions of dollars in debt. As a result, Michael Saylor stepped down as CEO after over 30 years with the company and switched roles to executive chairman.
Saylor’s Love for BTC
Despite this difficult period, Michael Saylor still loves bitcoin and made an official statement on Twitter saying that MicroStrategy had repaid its Silvergate loan at a 22 percent discount. He also suggested that he is not done investing in bitcoin yet despite it still being far away from where it was pre-bear run.
Bull Run Returning?
The price of BTC is currently enduring somewhat of a bull run which is certainly welcomed news compared to how things were during the bear run of 2022. Despite this positive trend though, it doesn’t necessarily mean that we have fully recovered yet or that further pain won’t be endured before we can remove the bandages from our wounds.
Conclusion
Michael Saylor’s love for Bitcoin may have gotten him into some trouble during one tumultuous year but his unwavering faith and optimism for cryptocurrency hasn’t wavered since then with him continuing to invest heavily into Bitcoin units despite past losses still being prominent in people’s mindsets today. It remains uncertain what will happen next but one thing is clear – cryptocurrency investments are often unpredictable so caution should be taken at all times!