Some of the biggest and brashest figures in crypto have faced staggering losses in this current downmarket. Multiple crypto companies have filed for bankruptcy, and more than one high-flying crypto CEO has found themselves out of a job. 

Case in point: Michael Saylor, the co-founder and former CEO of a software services firm called MicroStrategy. But software isn’t what made the company a household name among Bitcoin believers. Saylor’s decision to use the company’s balance sheet to bet big on Bitcoin back in 2020 is really what catapulted Microstrategy into the headlines. For a while, as Bitcoin prices rallied, that $250 million dollar bet looked like a genius move. But as prices fell, MicroStrategy found itself facing significant losses. What does this loss mean for the future of MicroStrategy, and for Michael Saylor? 

For more, Bloomberg senior editor Dave Liedtka and  Bloomberg accounting specialist Tom Contiliano join this episode to discuss what happened at MicroStrategy.

Some of the biggest and brashest figures in crypto have <a href="https://www.bloomberg.com/news/articles/2022-06-13/crypto-billionaire-fortunes-vanish-as-quickly-as-they-were-made">faced staggering losses in this current downmarket.</a> Multiple crypto companies have filed for bankruptcy, and more than one high-flying crypto CEO has found themselves out of a job. 
Case in point: Michael Saylor, the co-founder and former CEO of a software services firm called MicroStrategy. But software isn’t what made the company a household name among Bitcoin believers. Saylor’s decision to use the company’s balance sheet to bet big on Bitcoin back in 2020 is really what catapulted Microstrategy into the headlines. For a while, as Bitcoin prices rallied, that <a href="https://www.axios.com/2022/08/05/bitcoin-whale-saylor-microstrategy">$250 million dollar</a> bet looked like a genius move. But as prices fell, MicroStrategy found itself facing significant losses. What does this loss mean for the future of MicroStrategy, and for Michael Saylor? 
For more, Bloomberg senior editor Dave Liedtka and  Bloomberg accounting specialist Tom Contiliano join this episode to discuss what happened at MicroStrategy.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Bloomberg Crypto

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority. In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

The Highs and Lows of Being a Bitcoin Maximalist

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/75877b32-cea6-4202-adac-aefb01204fb1/transcript

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