Michael Saylor’s aggressive Bitcoin strategy over the past few years It has paid off greatly For him and MicroStrategy, which now makes the company one of the largest holders of Bitcoin. In a recent interview, Saylor revealed an ambitious plan to transform MicroStrategy To a leading Bitcoin bankWith the aim of benefiting from the growing interest in digital currencies and enhancing the company’s role in the cryptocurrency ecosystem.
This plan does not sit well with some participants in the cryptocurrency space such as Craig Wright, a controversial figure who has controversially claimed to be the creator of Bitcoin.
In a recent post on the social media platform X, Wright criticized Michael Saylor, accusing him of challenging the true essence of Bitcoin.
Craig Wright says Saylor is cheating on Bitcoin
According to Craig Wright, Bitcoin was created to facilitate small, informal peer-to-peer transactions without the need for an intermediary. However, recent dynamics in the cryptocurrency ecosystem have seen Bitcoin evolve over the years And he made his way In the traditional finance industry. As such, Wright suggested that Bitcoin has been distorted and manipulated. He asserts that Bitcoin has become centralized and is now unable to facilitate simple transactions without involving intermediaries.
Wright also asserts that Michael Saylor’s ambitious plan to create a Bitcoin bank is fundamentally inconsistent with the fundamental principles of Bitcoin. He believes that Saylor’s intentions are not focused on furthering the original purpose of Bitcoin, but rather on positioning himself as a primary intermediary in the cryptocurrency space, seeking to profit at the expense of other participants.
“Calling BTC ‘Bitcoin’ while simultaneously taking advantage of the intermediary role that true Bitcoin rejects is the height of deception, and it is through this misrepresentation that Saylor seeks to build his empire,” Wright said. He said.
What is Saylor Bitcoin Bank?
Michael Saylor envisions MicroStrategy turning into a proposed Bitcoin bank, designed to operate by acquiring more Bitcoin through various financial instruments, including stocks, transfers and fixed income markets. This approach is intended to give MicroStrategy investors exposure to Bitcoin price movements through MicroStrategy. This strategy is a result of the company’s firm belief in Bitcoin, with Saylor now saying the endgame is to grow into a trillion-dollar company that would give investors access to the price of Bitcoin.
Since 2020, Saylor and MicroStrategy have combined… An impressive reserve of over 252,220 BTCWhich is currently estimated at approximately $15.7 billion. It is worth noting that a large portion of these Bitcoin purchases were financed through the issuance of debt worth approximately $4 billion.
On the other hand, Bitcoin has emerged recently It exceeded $63,000 Price tag again in the last 24 hours. This means a 6.5% increase in less than three days Since it retested $59,000 On October 10th.
Featured image from Pexels, chart from TradingView