Why Michael Saylor Bet on Bitcoin During the COVID Cash Crisis

In 2020, Michael Saylor faced a problem that changed the course of his company—and the crypto market.

As governments responded to the COVID-19 crisis with lockdowns and money printing, the MicroStrategy founder saw something deeper than a public health emergency: a full-blown assault on the value of money itself.

With interest rates near zero and inflation quietly accelerating, Saylor watched his company’s $500 million cash reserve slowly become worthless. Traditional investments felt overvalued. Real estate was inflated, stocks were soaring, and safe assets yielded nothing. Even the art market didn’t offer a realistic hedge. He needed something liquid, borderless, and immune to political control.

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That’s when he began questioning everything he knew about finance. Bitcoin, once dismissed as a speculative fad, suddenly seemed like a lifeline. After digging into its fundamentals through podcasts, books, and conversations with crypto insiders, Saylor came to see it as the digital equivalent of gold—only faster, easier to store, and uncorrelated with government policy.

His conclusion was clear: sitting on dollars meant watching years of corporate effort erode. In August 2020, MicroStrategy made its first Bitcoin purchase—21,454 BTC for $250 million. What started as a defensive move became a long-term strategy. The firm now holds over 582,000 BTC, worth more than $60 billion, making it the largest corporate holder of Bitcoin to date.

For Saylor, the decision wasn’t driven by hype, but by a belief that in a world of economic instability, a decentralized asset offered the most resilient store of value.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.