Michael SaylorJuly 9, 2021 2021-07-12 21:03
Entrepreneur, Executive, Inventor, Author and Philanthropist.
Michael J. Saylor (born February 4, 1965) is an American entrepreneur and business executive, who co-founded and leads MicroStrategy , a company which provides business intelligence , mobile software, and cloud-based services . Saylor authored the 2012 book The Mobile Wave: How Mobile Intelligence Will Change Everything. He is also the sole trustee of Saylor Academy, a provider of free online education. As of 2016, Saylor has been granted 31 patents and has 9 additional applications under review.
On MicroStrategy’s quarterly earnings conference call in July 2020, Saylor announced his intention for MicroStrategy to explore purchasing Bitcoin, gold, or other alternative assets instead of holding cash. The following month, MicroStrategy used $250 million from its cash stockpile to purchase 21,454 Bitcoin.
MicroStrategy later added $175 million of Bitcoin to its holdings in September 2020 and another $50 million in early December 2020. On December 11, 2020, MicroStrategy announced that it had sold $650 million in convertible senior notes, taking on debt to increase its Bitcoin holdings to over $1 billion worth. On December 21, 2020 MicroStrategy announced their total holdings include 70,470 bitcoins purchased for $1.125 billion at an average price of $15,964 per bitcoin. As of February 24, 2021 holdings include 90,531 bitcoins acquired for $2.171 billion at an average price of $23,985 per bitcoin. Saylor, who controls 70% of MicroStrategy’s shares, dismissed concerns by observers that the move is turning MicroStrategy into a Bitcoin investment firm or exchange-traded fund (ETF).
In 1999, Saylor established The Saylor Foundation (later named Saylor Academy), of which he is the sole trustee. To support his goal of making free education available to all students, Saylor.org was launched in 2008 as the free education initiative of The Saylor Foundation. The site now offers roughly 100 college courses that are supported by free content from universities including MIT and Carnegie Mellon University, that students can access without having to pass through an admissions process.