In my Buy or Bye? series, I take a popular stock, strip away all the hype, and let you know whether you should buy now, buy later or buy never.
Today’s video focuses on the puppeteer pulling the strings at a highly controversial Virginia-based business software company.
In 2001, it seemed Michael Saylor’s infamy was set in stone after he was ranked No. 1 in Fortune‘s list of top tech bubble losers.
Luckily for Saylor, America is a land of short memories and second chances. However, what he is choosing to do with this second chance is questionable at best.
Saylor’s company began buying Bitcoin in August of 2020 and has not stopped since. And now his company is the third-largest holder of Bitcoin in the world.
Not the wisest move considering Bitcoin dropped over 60% last month.
Check out this headline from Fortune…
The company’s Bitcoin stash was worth about $5.9 billion at the end of the first quarter… but with the digital currency finishing June at around $18,900, that same pile is now worth about $2.45 billion.
Although just because Bitcoin is unsound…. doesn’t mean you can’t make money from it.
In fact, Bitcoin’s volatility is its greatest asset. “Buy low, sell high” applies easily to Bitcoin and – by extension – Saylor’s company.
Yahoo Finance has the inside scoop…
Saylor’s huge bet on Bitcoin may have won him a regular spot on the crypto talk circuit…
but would you be better off cutting ties?