Home
News
On November 19, 2022, MicroStrategy Founder, Michael Saylor tweeted about FTX’s CEO, Sam Bankman-Fried. He noted “Sam created a million Bitcoin Maximalists.”
Mr. Saylor said that “SBF is The Wolf of Wall Street of Crypto, and Hollywood should focus on him and produce a film that would be titled as “The King of Crypto.”
On the other hand, during an interview with Yahoo Finance Live, Mr. Saylor stated that “I think this [crypto] crash accelerates regulatory intervention. I mean, in fact, in a sense, SBF is like the Jordan Belfort of the crypto era. Instead of ‘The Wolf of Wall Street,’ they’ll make a movie called ‘The King of Crypto.”
“He was working to corrupt regulations and corrupt the political process. When you have actors that use corrupt counterfeit, stolen money in order to undermine the industry, it’s not good for anybody,” he further added.
It must be noted that Jordan Belfort, or commonly known “The Wolf of Wall Street,” is a former trader who pleaded guilty to crimes related to stock market manipulation at the end of last century.
After the uncertain collapse of FTX, the stock of MicroStrategy fell around 20%. It is assumed that this fall of stock was due to the fear of investors that came along with a sharp decline in Bitcoin.
Additionally, MicroStrategy disclosed in the previous month that it owned 130,000 Bitcoins, with an average purchase price of about $30,639 per coin and a total cost of almost $3.98 Billion.
Mr. Saylor also noted that the failure of the crypto exchange of FTX was because of the lack of transparency. And, on CNBC’s Squawk Box, he mentioned that “A company’s cryptocurrency holdings should be “nobody else’s liability.”
Recent Update from Michael Saylor
In the recent tweet on November 23, 2022, Mr. Saylor wrote “Never has the mission of Bitcoin been more important.” It can be seen that after the collapse of FTX, many people are actively moving their funds to self-custody.
The following statement comes from his recent conversation with Natalie Brunell, a media personality, and the host Charles Payne of FOX Business.
Over the current happening in the crypto market, Natalie Brunell, responded as “And my reaction to all of this is really to lock them up, I just don’t mean SBF, I also mean lock up your coins.”
She concluded that this series of events clearly shows the importance of why Bitcoin was invented and why we need an asset that doesn’t need a trusted third party.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
