He lost billions of dollars in one day, he made a fortune again with Bitcoin
Michael Saylor, the boss of MicroStrategy, has made billions of dollars this year on the rise of Bitcoin and his company's soaring stock.
This year, MicroStrategy boss Michael Saylor made up for the $6 billion he lost in one day 24 years ago. The famous entrepreneur made billions of dollars from the rise of Bitcoin and the rise in his company's shares.
Michael Saylor's big bet on Bitcoin has added to Saylor's fortune this year. With the huge increase in the value of Bitcoin, the famous entrepreneur had a windfall again after years.
HE LOST 6 BILLION DOLLARS IN ONE DAY
But Saylor was not always so lucky. Having become a billionaire through MicroStrategy during the dot-com boom, Saylor faced his biggest hurdle.
In 2000, MicroStrategy revealed that its revenue in 1999 was 25 percent less than it had originally claimed. The accounting scandal cost him $6 billion in one day. It was the largest single loss by a single person in 24 hours up to that time.
The regulator accused him of violating federal securities laws later that year. Saylor settled by paying the agency $8 million without admitting to the charges. 
FOUND WHAT HE WAS LOOKING FOR IN BITCOIN
But Saylor, who lost most of his savings 24 years ago, found the wealth boom he was looking for in Bitcoin. This week, Saylor's total shares in MicroStrategy and the value of his personal Bitcoins combined were worth about $3.49 billion.
This represents a gain of nearly $1 billion since the beginning of the year.
MicroStrategy's stock has exploded since the beginning of the year, with the new Bitcoin soaring to new highs. Rising more than 300 percent in 2023, MicroStrategy's shares rose 86 percent. Meanwhile, Bitcoin rose 46 percent in 2024.
Microstrategy, which has bought billions of dollars worth of Bitcoin over the past four years, now owns more than 214 thousand Bitcoins, about 1 percent of all tokens in circulation. The value of crypto assets held by the company is approximately $13.7 billion today.
