Michael Saylor resigns as MicroStrategy CEO — here are his most notable quotes about Bitcoin

Analytical software developer MicroStrategy announced a change in its management team. The current head of MicroStrategy, Michael Saylor, will leave his position to be replaced by Fong Le. The staff changes will take place on August 8. This information is provided in the company’s latest Q2 2022 financial results report.

This has never happened before

Although the company’s revenue rose to $121.1 million for the period, the second quarter loss was $917.8 million compared to $119.3 million in the first quarter.

For the entire investment period as of June 30, 2022, the carrying value of MicroStrategy’s digital assets (129,699 BTC) was $1.988 billion, reflecting cumulative impairment losses of $1.989 billion since acquisition and an average carrying value per Bitcoin of approximately $15,326.

According to experts, the company’s loss is primarily due to the negative revaluation of assets in Bitcoin, whose purchase in 2020 brought MicroStrategy a worldwide reputation as the first company to direct purchase cryptocurrency. The company has Michael Saylor to thank for this idea. However, shareholders realize now that MicroStrategy’s direction has changed, and instead of developing software, the company is just buying Bitcoin.

The investor has been the company’s CEO since 1989 and is well-known for his belief in Bitcoin. So, let’s remind his most famous quotes about the first cryptocurrency.

Saylor says…

Mike Saylor will continue to be Chairman of the Board of Directors and oversee the Bitcoin asset management theme.

We have yet to hear his post-retirement speeches, but for now, Saylor is remembered for the following words.

 Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy. 

Bitcoin is a cyberspace bank run by incorruptible software, offering global, affordable, simple, and secure savings account to billions of people who don’t have the option or desire to run their hedge fund. 

Like Bitcoin, living things are volatile. Dead things, not so much. 

Satoshi started a fire in cyberspace. While the fearful run from it and fools dance around it, the faithful feed the flame and dream of a world bathed in the warm glow of cyber light. 

Google is what happens when we pool information energy on a software network. Everyone understands this. Bitcoin is what happens when we pool monetary energy on a software network. Few understand this. 

All my best investments were in networks everyone needed, no one could stop, and few understood. Bitcoin is the monetary network. 

The signal is monetary expansion everywhere. The problem is people will lose half their wealth in a few years. The solution is Bitcoin. The rest is noise.

Bitcoin is the dominant digital monetary network. The following billion members will pay trillions to join. You might want to enter first. 

Bitcoin links together 8 billion people, ties together a hundred million companies, synchronizes the world across political jurisdictions and returns rationality to the entire financial system. It returns freedom and property rights to the whole human race. 

Bitcoin is an arc of encrypted energy to escape the currency flood. 

Bitcoin is digital gold – growing harder, smarter, faster, & stronger due to the relentless progression of technology. 

21st-century investors lost trillions clinging to 20th-century ideas. Gold peaked in the 19th century. Buy Bitcoin. 

Start with Gold. Eliminate complexity, corruption, constraint, convention, contention, & inflation. Substitute speed, power, intelligence, equity, ability & accessibility. Finish with Bitcoin.

In 2021 Michael Saylor said that the Bitcoin exchange rate in the future could reach $5 million. He predicted that the capitalization of the asset could reach $100 trillion. And if that happens, we think MicroStrategy probably would regret their current decision. What do you think about that?