Will Michael J Saylor become the richest man in the history of mankind?

[WeThePe0ple]

He holds 140 000 BTC at this point. Nearly 1% of all BTC in circulation at the moment belongs to his company Microstrategy

If the monetary system collapses within 10 years and BTC ever reaches 10 million dollars, he will have a net worth of 1 400 000 000 000 USD. Aside from his other assets that I'm not aware of.

He would be the first trillionaire and surpass Elon Musk/Bernard Arnault 5 times. But in terms of intrinsic value this may not be true. It depends on what happens to the value of their companies and assets.

I wonder what will happen to Saylor while BTC is on the rise. Because of his fame, he can't stay under the radar. It would not surprise me if the US government comes knocking on his door, demanding to confiscate his BTC "to protect the monetary stability". Or they develop prison sentences for known holders of BTC. In that regard he reminds of Jack Ma, the richest man in China who disappeared for months and was supposedly forced to sign off the rights of his company Alibaba.

I believe the future is bright for BTC, but anonymity will be key when banks and governments launch their attack on DeFi

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[stompix]

He holds 140 000 BTC at this point. Nearly 1% of all BTC in circulation at the moment belongs to Michael Saylor.

He doesn't own those coins, Microstrategy does, and Saylor has only 16% shares of MicroStrategy!
Back to the drawing table!

If the monetary system collapses within 10 years and BTC ever reaches 10 million dollars, he will have a net worth of 1 400 000 000 000 USD. Aside from his other assets that I'm not aware of.

If the monetary system collapses then there are two possibilities
- 10 million dollars will buy you a lollipop
- nearly all the wealth in the world will be destroyed, making it impossible for BTC to have a market cap of 210 trillion.

You can't have the cake, eat it, and also throw it in somebody's face at the same time!  
So let's stick to the scenario where Bitcoin is reaching 1 million without any apocalypse!

[digaran]

Cool story bro! Not only he will be the richest man in the history of mankind, but in the entire multiverse. Lol.
Well before bitcoin reaches 10M I should double down grinding on finding some puzzle bitcoins.😉 I will be the second richest man.
And Satoshi could keep on holding over a million BTC, gold hoarding dragon!
 ~I the people.

[nutildah]

In addition to him not actually owning the "nearly 1% of all BTC in circulation," he'll probably go to jail first:

https://www.coindesk.com/policy/2022/08/31/washington-dc-suing-microstrategys-michael-saylor-for-tax-fraud/

https://blockworks.co/news/bitcoin-michael-saylor-tax-evasion-lawsuit

He's a sociopath fixated on satisfying the whims of his own ego. A lot of beta bitcoiners look up to him as a role model, which is unfortunate because he's not a good person.

https://newrepublic.com/article/160773/bitcoin-price-boom-michael-saylor-microstrategy

After founding MicroStrategy in 1989, Saylor was part of an alleged accounting scheme that vastly overstated the company’s earnings, making a money-losing, publicly traded corporation look profitable. In 2000, Saylor, two other MicroStrategy executives, and the company itself paid a total of $11 million in a settlement with the SEC; Saylor, who personally signed off on the fraudulent earnings reports, paid $8.2 million of that. The charges were settled with no one admitting any wrongdoing. Somehow, Saylor has held onto his role at MicroStrategy over the last 20 years, reportedly becoming one of the richest people in the capital region. The company’s revenue has declined every year since 2014.

Plus he couldn't give less of a shit about the principles on which bitcoin was founded... he represents nothing more than an insane level of greed which should not be emulated by anyone.

"Stop talking about regulatory arbitrage. Censorship-resistance, privacy, and tax evasion are bad ideas. We hate that... People with billions of dollars don’t want to invest in crypto networks that support anarchists."
- Michael Saylor

[Nwada001]

Microstrategy holdings are equal to about 0.667% of Bitcoin's maximum supply. 

Let's not leave by assumption and procrastination. Bitcoin doesn't need the monetary system to collapse before it can hit $10,000,000. What's the point of having a trillion dollars when its value is below a current $100 note? And even if that happens, don't you think other stocks' prices will also increase because fiat has been devalued and needs more of it to meet its current value? Your assumption creates no possibility of Michael Saylor becoming the first trillionaire, even if he were the owner of the entire Bitcoin holdings of Microstrategy.

[stompix]

Plus he couldn't give less of a shit about the principles on which bitcoin was founded... he represents nothing more than an insane level of greed which should not be emulated by anyone.

Let's not forget this:


Everyone becomes a believer when they smell the cash, just as how when there is no more money and no possibility of a get rich quick scheme they will be the first to betray and stab you in the back. But seems like the community needs a Bitcoin Jesus desperately, too bad they are selecting the worse of the worse.

[Poker Player]

If the monetary system collapses then there are two possibilities
- 10 million dollars will buy you a lollipop
- nearly all the wealth in the world will be destroyed, making it impossible for BTC to have a market cap of 210 trillion.

You can't have the cake, eat it, and also throw it in somebody's face at the same time!  
So let's stick to the scenario where Bitcoin is reaching 1 million without any apocalypse!

I don't know why people have wet dreams about it. They only see one part of the big picture, the part that suits them best. If the monetary system collapses there is going to be pain, a lot of pain, and if you have a lot of Bitcoin or money in general it better not be noticed.

In addition to him not actually owning the "nearly 1% of all BTC in circulation," he'll probably go to jail first:

https://www.coindesk.com/policy/2022/08/31/washington-dc-suing-microstrategys-michael-saylor-for-tax-fraud/

https://blockworks.co/news/bitcoin-michael-saylor-tax-evasion-lawsuit

He's a sociopath fixated on satisfying the whims of his own ego. A lot of beta bitcoiners look up to him as a role model, which is unfortunate because he's not a good person.

https://newrepublic.com/article/160773/bitcoin-price-boom-michael-saylor-microstrategy

After founding MicroStrategy in 1989, Saylor was part of an alleged accounting scheme that vastly overstated the company’s earnings, making a money-losing, publicly traded corporation look profitable. In 2000, Saylor, two other MicroStrategy executives, and the company itself paid a total of $11 million in a settlement with the SEC; Saylor, who personally signed off on the fraudulent earnings reports, paid $8.2 million of that. The charges were settled with no one admitting any wrongdoing. Somehow, Saylor has held onto his role at MicroStrategy over the last 20 years, reportedly becoming one of the richest people in the capital region. The company’s revenue has declined every year since 2014.

Well, the tax issue will have to be looked at I didn't know anything about it. If he goes to jail, I'm not going to cry, but I'd better wait for the sentence, and the settlement without admitting any wrongdoing doesn't tell me anything either, there are people who admit a minor penalty without guilt to avoid a small probability of a serious penalty.

If anything, I had a better idea of him at first. After a while I realized that those messages he throws out to the masses along the lines of "mortgage your house to buy Bitcoin, borrow from everything to buy Bitcoin", are insane.

But seems like the community needs a Bitcoin Jesus desperately, too bad they are selecting the worse of the worse.

This. Wasn't the former Bitcoin Jesus McAfee?

[kelonmusk]

Definitely an interesting situation with Michael Saylor holding such a significant amount of BTC. If the monetary system were to collapse and BTC reaches those high valuations, it's true that he could potentially become the first trillionaire.

So, like you mentioned, the intrinsic value of other major players like Elon Musk and Bernard Arnault would depend on their companies and assets. As for the risks Saylor might face while BTC continues to rise, I agree that it wouldn't be surprising if the government tries to intervene in some way.

Example, look at the case of Jack Ma, who faced intense scrutiny from the Chinese government. However, it's hard to predict exactly how the US government would handle the situation.

[tranthidung]

He holds 140 000 BTC at this point.

You read it right, Micro Strategy owns those bitcoins, not only Michael Saylor.

MicroStrategy Bitcoin holding statistics and role of Michael Saylor as a Executive Chairman since August 2022

Nearly 1% of all BTC in circulation at the moment belongs to Michael Saylor.

Surely not.
The rest is unnecessary to discuss with incorrect starting information.

[Renampun]

Who will know in the future, but the number of bitcoins held by microstrategy is not so large that it can make him the richest man in the world, if by only relying on bitcoins as a calculation of the number of wealth assets then if anyone holds more than 1 million bitcoins  then that person will become the richest person in the world (seeing the potential for bitcoin to pass through ATH and create new ATH continuously).

[nutildah]

But seems like the community needs a Bitcoin Jesus desperately, too bad they are selecting the worse of the worse.

I suppose its just a natural human tendency to look for leadership, someone to help bring order and structure to an otherwise very chaotic existence. However, bitcoin's libertarian roots stress the importance of self-determination and basically being able to think and act on one's own authority... not beholden to ideals imposed by others.



Saylor is still unironically a cult of personality for Bitcoin Bros. I personally find him to have the appeal of a root canal but to each their own.

[m2017]

~snip

It is a completely thankless task to look into someone else's pocket, and if I were you, I would be more worried about my door, which your government might knock on. Sooner or later it will want a piece of your investment.

The richest corporations are already almost like small states within states. With a good turn of events, companies like Microstrategy, which own 1% of all BTC, can become very, very influential and strong.

The USA is not China. Comparing USA with China is not acceptable, because in the USA the laws work a little differently.

Anonymity (actually pseudo-anonymity), confidentiality and privacy of BTC is a very big question in the future.

[Wapfika]

Plus he couldn't give less of a shit about the principles on which bitcoin was founded... he represents nothing more than an insane level of greed which should not be emulated by anyone.

Let's not forget this:


Everyone becomes a believer when they smell the cash, just as how when there is no more money and no possibility of a get rich quick scheme they will be the first to betray and stab you in the back. But seems like the community needs a Bitcoin Jesus desperately, too bad they are selecting the worse of the worse.

Twitter is full of those crazy believer not only to Saylor but even with CZ that obviously just wearing a sheep skin while doing their personal business behind. They are the time bomb of cryptocurrency that ready to explode anytime once they bust.

Trust in crypto once again will be broken once this actor got busted but this essential for us to have a healthy run again without this clown that using Bitcoin to for their personal. I never trust anyone in crypto space, Anyone that badly preaching something to encourage everyone to invest is surely hiding something that will benefit themselves.

[WeThePe0ple]

If the monetary system collapses there is going to be pain, a lot of pain, and if you have a lot of Bitcoin or money in general it better not be noticed.

I think there is already a lot of pain now due to the fed raising rates. Lots of young people have taken cheap loans for overpriced houses.
As mortgage rates go up, housing prices should come down. So if they default on payment due to the inflation, they have to sell their properties at a big loss.

[Jody.Drummer]

Well, even though in this case what you said about Michael Saylor is true, on the other hand, we also know, of course, that the money he bought was not entirely personal money because it was money from their company.
On the other hand 10 million in 10 years, it's so cool to be able to predict well like this
Well, even though in this case I have never doubted bitcoin, but on the other hand, we must also be aware that what we need to have besides hope is realistic.

[WeThePe0ple]

In addition to him not actually owning the "nearly 1% of all BTC in circulation," he'll probably go to jail first:

The company Microstrategy then. I adjusted the OP. Also keep in mind that of the maximum 21 million BTC, a significant amount of keys have been lost.
Owners pass away.. This one says that 4 million coins are irreversibly lost, which makes BTC even more scarce and significantly drives up the price.

I don't know if the hypothesis of owners going to prison has an effect on the price. If those coins are taken out of the market, then yes. If they just get a new owner (the government) I'd say no.

https://originstamp.com/blog/how-many-bitcoins-have-been-lost/#the-estimated-number-of-bitcoins-that-have-been-lost

[eaLiTy]

~
He holds 140 000 BTC at this point. Nearly 1% of all BTC in circulation at the moment belongs to his company Microstrategy

From what i understand from the reports that were published earlier Michael Saylor holds around 17k BTCitcoin, Tim Draper purchased a whole lot more than him during the Silk road auction, no idea whether he is holding those coins still and Winklevoss Twins have a much bigger bag of 70k BTC, so if holding the most BTCitcoin would make anyone the richest then Tim Draper and the Winklevoss Twins will be the top holders.

[theskillzdatklls]

~
He holds 140 000 BTC at this point. Nearly 1% of all BTC in circulation at the moment belongs to his company Microstrategy

From what i understand from the reports that were published earlier Michael Saylor holds around 17k BTCitcoin, Tim Draper purchased a whole lot more than him during the Silk road auction, no idea whether he is holding those coins still and Winklevoss Twins have a much bigger bag of 70k BTC, so if holding the most BTCitcoin would make anyone the richest then Tim Draper and the Winklevoss Twins will be the top holders.

Yeah accurate. And for them to be the richest in the world, the market cap of Bitcoin would probably have to be around $20T at least. Which means approximately a $1m/coin BTC. Certainly within the plausible BTC ranges. I think $3-5M is semi bullish and getting to 10m+ starts getting a little loony but possible especially under certain constraints like hyperinflation.

But all that to say that yeah, big BTC players may control a lot of wealth in the future on the global scale.

[lionheart78]

He holds 140 000 BTC at this point. Nearly 1% of all BTC in circulation at the moment belongs to his company Microstrategy

It is clearly stated on that the 140k BTC is own by Microstrategy and not only Michael Saylor so any discussion further about Saylor being the world's richest man when Bitcoin touches 10m per piece is statistically wrong.

If the monetary system collapses within 10 years and BTC ever reaches 10 million dollars, he will have a net worth of 1 400 000 000 000 USD. Aside from his other assets that I'm not aware of.

  Any Valuation of Bitcoin in fiat currency will be worthless once the monetary system collapses.  So I'd rather see Bitcoin @ $500k with very strong global economy than $10m in an apocalyptic era.

He would be the first trillionaire and surpass Elon Musk/Bernard Arnault 5 times. But in terms of intrinsic value this may not be true. It depends on what happens to the value of their companies and assets.

Nothing to discuss because the given statistics are already proven to be wrong.

[death69]

140,000 BTC? Pffft, that's chump change. I personally have at least twice that much tucked away in my sock drawer. Who needs silly things like financial stability and responsible investing when you can just throw all your money into a volatile and unregulated asset with no inherent value?

And don't even get me started on this whole "intrinsic value" nonsense. Who needs value that's intrinsic when you can just slap a fancy-sounding name like "DeFi" on something and watch the profits roll in? It's like the Emperor's New Clothes, but for finance!

But let's be real for a minute. We all know that anonymity is key when it comes to dealing with banks and governments. I mean, sure, they might develop prison sentences for known holders of BTC, but what's a little prison time when you've got all that sweet, sweet imaginary money to comfort you?

So yeah, I'm sure Michael J Saylor will become the richest man in history. And hey, if he ever needs someone to join him on his throne made of Bitcoin, I'm just a DM away.