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Michael Saylor Bet Billions on Bitcoin and Lost

·4 min read
Michael Saylor Bet Billions on Bitcoin and Lost
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In 2020, MicroStrategy stock was stagnant, and the tech company struggled to compete with software giants. On Tuesday, MicroStrategy announced Mr. Saylor would step down as CEO, a position he has held since 1989, amid mounting losses tied to bitcoin. In total, MicroStrategy raised $2.4 billion in debt and loans.