Sam Bankman-Fried Created A Million Bitcoin Maximalist – Michael Saylor

Published by

Sohrab Khawas

November 20, 2022

The founder of FTX, Sam Bankman-Fried who is under close regulatory investigation over claims of user money fraud, may have indirectly produced many bitcoin org information bitcoin org - Event OrganiserTechnologyPayment solution maximalists, according to MicroStrategy (MSTR) Executive Chairman michael saylor michael saylor Michael Saylor is a Co-founder of Strategy formerly MicroStrategy. Before founding Microstrategy, he was a rocket scientist and studied aeronautics and astronautics at MIT on an Air Force scholarship. He dubs Bitcoin 'Digital Gold'. He made some early investment in Bitcoin as soon as he realized it was going to be the next big thing in shaping decentralized finance from traditional finance. His firm Strategy has made Bitcoin their primary treasure reserve. He is a vocal advocate and Top Bitcoin Speaker who participates in various Bitcoin and Crypto events. Michael Saylor is highly skilled in and has a rich knowledge of numerous fields, including analytics, data warehouses, SaaS, management, cloud computing, enterprise architecture, mobile devices, and many more. Personal Details: Born: Feb 4, 1965Location: United StatesGraduation: He graduated from MIT in 1987 with a double major in aeronautics, science, technology, and society. Michael Saylor – Career Timeline 1983–1987: Studied Aeronautics & Astronautics and Science, Technology & Society at Massachusetts Institute of Technology (MIT). 1989: Co-founded MicroStrategy (Strategy). 1998: MicroStrategy IPO – Took MicroStrategy public on the NASDAQ at $12 per share. 2000: Accounting Scandal & Crash – MicroStrategy's stock plunged 62% in a day due to an accounting misstatement, wiping out billions in valuation. 2004–2019: MicroStrategy Rebuilds – Worked towards cloud-based analytics and AI-driven business intelligence, regaining stability. 2020: Bitcoin Strategy & Investment – Led MicroStrategy’s $425M Bitcoin investment. He made it the first publicly traded company to adopt Bitcoin. 2021: Bitcoin Evangelism – Became one of Bitcoin’s most vocal advocates, encouraging corporations and institutions to adopt BTC and blockchain. 2022: Stepped Down as CEO – Transitioned to Executive Chairman to focus entirely on Bitcoin strategy. msaylor@microstrategy.com EntrepreneurCrypto and Blockchain ExpertAuthor .

Earlier, Saylor compared ftx exchange ftx exchange - Centralised Exchange CEO Sam Bankman-Fried to trader and stockbroker Jordan Belfort in an interview on Yahoo Finance Live.

“I mean, in fact, in a sense, SBF is like the Jordan Belfort of the crypto era. Instead of ‘The Wolf of Wall Street,’ they’ll make a movie called ‘The King of Crypto’.He was working to corrupt regulations and corrupt the political process. When you have actors that use corrupt counterfeit, stolen money in order to undermine the industry, it’s not good for anybody,” he said.

Few days after the FTX collapse, MicroStrategy stock fell 20% as investors feared after a sharp decline in Bitcoin. MicroStrategy revealed last month that it owned 130,000 bitcoins, with an average purchase price of about $30,639 per coin and a total cost of almost $3.98 billion.

Saylor also attributed the failure of the crypto exchange to the lack of transparency. On CNBC’s Squawk Box, A company’s cryptocurrency holdings should be “nobody else’s liability, Saylor said.

He stated that given the existing circumstances, additional regulatory control of FTX is unavoidable. However, he stressed that the sector as a whole could be harmed if regulators respond too harshly to FTX’s collapse.

Following the bankruptcy of troubled crypto exchange FTX, the price of bitcoin fell below $16,000 on Thursday.

BTC is currently trading just around $17,000 after experiencing a little uptick following the release of US consumer price index data on Thursday morning.

It is currently unknown how long the crypto market will take to recover from the crash brought on by FTX.

BTC is now down by almost 30% in relation to its 30-day highs. And most other major cryptocurrencies share the same situation.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.