MicroStrategy’s $1 billion Bitcoin loss would actually be a huge win

The billion dollars that MicroStrategy lost in its Bitcoin investment would actually be a big win, at least according to Michael Saylor and many other crypto enthusiasts.

While mainstream media such as the Wall Street Journal were quick to highlight the nearly $1 billion loss in BTC suffered by MicroStrategy this quarter, Michael Saylor says it’s not than a short-term vision.

Michael Saylor speaks on the company’s strategy

During of a pass on the Fox Business channel, Mr. Saylor was in good spirits. As show host Charles Payne pointed out, MicroStrategy’s quarterly financial reports generated a flurry of “brutal” media headlines, with media lining up to lash out at Mr. Saylor and his company.

Mr. Payne thus invited the co-founder of the company to give his version of the facts.

“First of all, this is a non-GAAP impairment charge” [un rapport financier]said Mr. Saylor, “and so it makes for a juicy headline, but our shareholders, executives as well as company directors and customers see beyond it all.”

The MicroStrategy chairman, who announced he is stepping down from his long-time CEO position to focus on promoting Bitcoin, further claimed that his company is outperforming the rest of the market.

“MicroStrategy is now two years into its Bitcoin strategy, and after two years of exercising it, our stock is up 123% and BTC is up 94%. We have outperformed every major asset class, every big tech stocks, all enterprise software stocks,” Saylor said.

The former CEO admitted that the “financials are a little bad,” but he pointed out that MicroStrategy’s enterprise value had grown 730% over the past two years, from around $700 million to over $5 billion.

These numbers, however, did not protect MicroStrategy or Mr. Saylor from the mockery of the mainstream press.

Wall Street Journal unleashes crypto community’s wrath on Twitter

Bloomberg and the Wall Street Journal (WSJ) are among the main media publications to have drawn the wrath of Internet users for their reporting on Michael. Saylor. Bloomberg notably called the former CEO “blind,” while the WSJ linked the loss in value to his departure as MicroStrategy chairman, with the headline “Michael Saylor bet billions on Bitcoin and a loss “.

However, crypto proponents almost immediately fired back.

Eric Weissmanager of Family Office, said: “And by ‘lost’ you mean the share price has more than doubled, to the benefit of all shareholders, and the company has outperformed all stocks and all classes of assets since adopting Bitcoin. […] A remarkably dishonest position; you clearly have a goal with this article”.

Preston Pysh, from The Investor podcast, added : “The will of the market price does not mean that we should ignore the performance to date. Was it by choice or negligence? »

Lyn Alden of Lyn Alden Investment, for her part, took an evidence-based approach to demystify the critics, stating that “value and price are not always (or even often) the same thing.”

So, it would seem that although the mainstream media is hit with a sensitive nerve, the overall situation is still favorable to Michael Saylor and MicroStrategy.


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