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Michael Saylor, CEO and founder of Microstrategy, explains how he decided the publicly traded business data firm needed to put its excess cash in bitcoin and what happened afterward. In this episode, we discuss:\xa0\n\nwhy Microstrategy decided to buy Bitcoin, and how the pandemic spurred that\n\nwhether his previous experience with Microstrategy stock imploding after accounting irregularities were revealed had any bearing on the company's decision to buy bitcoin\n\nthe reactions of the officers and board members to his suggestion to invest in bitcoin\n\nwhy they put all the excess cash into bitcoin as opposed to some percentage\n\nwhat parts of the bitcoin industry could be improved to better serve corporate interests\n\nwhether Microstrategy intends to take any money off the table at the top of any future bubbles and reinvest when the price hits a new low\n\nwhether it hurts Microstrategy that GAAP rules require the company to mark Bitcoin down to the lowest price it traded at during the quarter\n\nhow his life has changed since Microstrategy bought bitcoin\n\nwhat he thought of Citi downgrading Microstrategy stock\n\nwhat he thinks of Renaissance Technology being the third-largest buyer of Microstrategy stock since the summer\n\nwhat will happen to Microstrategy stock in a bitcoin bear market\n\nwhether or not there was any further conversation after his tweets with Elon Musk\n\nwhat types of companies, and how many, have been talking with him, expressing interest in buying bitcoin\n\nwhat will happen at the Bitcoin for Companies conference\n\nwhat type of bitcoin data products they are contemplating offering\n\nwhat he thinks will happen to the USD\u2019s global reserve currency status\n\nwhat it would take for him to sell any bitcoin\n\n\xa0\nThank you to our sponsors!\xa0\nCrypto.com: http://crypto.com\n1inch: http://1inch.exchange\n\xa0\nEpisode links:\xa0\nMichael Saylor: https://twitter.com/michael_saylor\nMicrostrategy: https://www.microstrategy.com/en\nBitcoin for Corporations: https://www.microstrategy.com/en/resources/events/world-2021/bitcoin-summit\n\xa0\nMicrostrategy purchases an additional $10 million in bitcoin: \n https://www.microstrategy.com/content/dam/website-assets/collateral/financial-\n documents/financial-document-archive/Form-8-K_jan-22-2021.pdf\n\xa0\nUnchained interview with Saifedean Ammous: \n\xa0\nAugust 11, 2020: Microstrategy adopts Bitcoin as its primary reserve asset: \n\xa0\nAugust 11, 2020: Microstrategy makes tender offer to purchase up to $250 million of its common stock: \n\xa0\nSeptember 11, 2020: Microstrategy to purchase $60.5 million of common stock: \n\xa0\nPlan to offer $550 million in convertible notes: https://www.theblockcrypto.com/linked/87120/microstrategy-550m-convertible-notes-bitcoin\n\xa0\nMicrostrategy announces over $1 billion in Bitcoin purchases in 2020: \n\xa0\nMichael Saylor\u2019s 2013 tweet on Bitcoin: https://twitter.com/michael_saylor/status/413478389329428480?s=20\n\xa0\nForbes expose on unusual accounting practices by Microstrategy back in 2000: https://www.forbes.com/global/2000/0306/0305024a.html?sh=46312df01674\nApril 2000 profile of Michael in The New Yorker: https://archives.newyorker.com/newyorker/2000-04-03/flipbook/034/\nSEC enforcement action against Microstrategy: https://www.sec.gov/litigation/admin/34-43724.htm\nForbes profile after the SEC enforcement action: https://www.forbes.com/2000/12/18/1218faces.html?sh=523061e03bf9\nForbes announcing Microstrategy would restate earnings after its expose: https://www.forbes.com/2000/03/20/mu3.html?sh=21efe89d1ee6\nSummary of SEC action: \n\xa0\nCiti downgrading MSTR: \n\xa0\nRenaissance Technologies has been third-largest buyer of Microstrategy\u2019s stock since the summer: https://www.theblockcrypto.com/linked/87194/renaissance-technologies-microstrategy-bitcoin\xa0\nMicrostrategy contemplating bitcoin data products: https://www.theblockcrypto.com/post/85310/microstrategy-bitcoin-data-products\nLearn more about your ad choices. Visit megaphone.fm/adchoices