Saylor's Unconventional Gambit: How Bitcoin, ChatGPT, and 'Digital Credit' Made Him Billions
Michael Saylor is an unconventional thinker who made headlines by converting his company's cash reserves into Bitcoin in 2020. As of this year, Strategy, formerly MicroStrategy, holds over 840,000 BTC worth tens of billions of dollars, making it the largest corporate holder of Bitcoin.
Saylor argues that traditional assets like houses and savings accounts are quietly bleeding savers dry due to hidden maintenance costs, taxes, and illiquidity. He claims that once these costs are factored in, what remains is a depreciating consumption good, not an appreciating investment.
One of Saylor's most innovative moves was using ChatGPT to help design a financial instrument called 'digital credit.' This instrument, represented by preferred stock instruments like STRC, pays investors a variable monthly dividend and trades steadily near its $100 issue price. Within nine months, STRC grew to over $8.5 billion in value.