Today, Microstrategy is one of the most important institutions in CodedBut it did not start this way. The company, which was established by Michael Sailor-one of the most influential figures in the world of bitcoin-made its mark fingerprints.

Now, however, it is known for its aggressive strategy Get bitcoin for its commercial reservesAlthough Silor has become a major figure for the institutional adoption of the original.

Here is everything else you need to know about Microstrategy and its relationship with Bitcoin.

What is Microstrategy?

Before Bitcoin adds to its public budget, Microstrategy was famous for the solutions of business intelligence programs, which were designed to easily help companies analyze data to improve decisions.

Microstrategy was founded in 1989, and Microstrate soon became successful, in public and trade on the Nasdaq Stock Exchange in 1998 as MSTR. But only two years later, Silor and two other executives in Microstrategy were Settlement of the case With the Supreme Education Council, which claimed that the company "exceeded revenues and financial profits from sales of software and information services."

After a short rise in the price of his share in 2000, Mstr It was circulated in a narrow range over the next two decades, as it only started in the main move at the end of 2020 - in the same year in which the first bitcoin purchased process was announced.

Treasury Reserve in Bitcoin Microstrategy

In 2020, Microstrategy took a leading step: the company adopted Bitcoin as the origins of the primary treasury reserve. Silor is concerned about reducing the value of the US dollar and the Fiat currency due to inflation. The first purchase From $ 250 million in Bitcoin as a hedge against economic uncertainty.

He said at that time: "This investment reflects our belief that Bitcoin, as a widely encrypted currency in the world, is a reliable store of value and attractive investment with a long -term estimation capabilities more than keeping money."

The company's bitcoin's purchase strategy has evolved over time and turned into a use in the first place Selling convertible notes To raise funds to buy more bitcoin. In other words, Microstrategy uses a short -term debt increase through convertible notes that allow investors to ultimately benefit the Microstrategy stock. Then use the money collected from selling notes to buy Bitcoin.

This strategy was eventually adopted by other companies circulating to the public, such as Mara and Riot control platforms. In December, Sailor likened this strategy to develop real estate in Manhattan, Saying CNBC This, "every time real estate rises in Manhattan, it exports more debts to develop more real estate."

Since Microstrategy has become more intertwined than ever with Bitcoin, the company now refers to itself as "the first and largest company of the Bitcoin Ministry" through it Investor relationship page.

Michael Sailor, Bitcoin Taurus

Although Michael Sailor is now one of the biggest sounds that defend Bitcoin, he was not always a bitcoin bull.

Only seven years before his Crypto company was adopted as a major reserve asset, Silor to publish On Twitter, "#Bitcoin days are numbered. It seems just a matter of time before you suffer from the same fate of gambling online."

Since then, Silor has I did 180 entire degreesBitcoin's claim is the best long-term assets that must be kept while adhering to "buying the top forever", indicating that the original is constantly purchased at peak prices-which Microstrategy continues to do.

From Silor's point of view, this means that he may buy Bitcoin at 13 million dollarsThe goal of the price he created for the next 21 years is because it expects to get a percentage greater than the total global capital.

The issue against the Bitcoin Reserve of Microstrategy

The ongoing acquisitions of Bitcoin were faced by selling debts scrutiny by analysts and media in space. In November 2024, Sherwood Media, backed by Robinhood, determined "Mathematics problem", with Mstr is worth 3x The amount of BTC holds and forced liquidation capabilities in the clouds.

These ideas were also leaked to the broader encryption community Short position In November 2024, betting on the price of MSTR's share for decrease.

Citron notes indicate MSTR "Full“Bitcoin investments are no longer required.

If the price of the MSTR share is sufficiently enough, Microstratei can be forced to sell Bitcoin to pay more than $ 4 billion in convertible notes, "opposite" the permanent movement machine "... which would More low bitcoin price“According to Sherwood Media.

The future of Microstrategy

Other companies have adopted the Bitcoin Microstrategy reserve strategy, including Japanese company metaplanet And Candy Checks Company Matador techniques.

While Microstrategy continued consistent Bitcoin purchases, the company indicated in October that there are no plans to slow in the future. At that time, Microstrategy announced plans to collect up to 42 billion dollars In order to add more leading coil assets to its public budget.

Search for more, company Voting In January 2025 to implement a 30x increase in the shared A.C. shares, allowing it to add more bitcoin than planned at first.

The company, which now owns more than $ 48 billion from Bitcoin, rises more than $ 17.7 billion on its life purchases according to data from Saylortracker.

Silor's ambitions to Microstrategy more than adding the main Bitcoin reserves to the company's public budget. In October 2024, it is Make up Microstrategy developed into "Bitcoin Bank" with a trillion dollars, which creates the capital market tools associated with bitcoin that can be provided to investors.

In addition to the addition to its own holdings, Silor and Partners now offer other major companies circulating to the public. In December 2024, he said Microsoft panel They can stand to create a value of $ 5 trillion by adopting bitcoin. they Vote Add it to its public budget ... now.

Editor's note: This story was originally published on January 8, 2025 and was updated by new details on January 28.