Strategy became a symbol of the dot-com crash: Could history repeat?
MicroStrategy blew up during the dot-com era, before Michael Saylor transformed it into the world’s largest corporate Bitcoin holder. Did he learn his lesson?
In March 2000, Strategy executive chairman Michael Saylor watched more than $6 billion disappear from his fortune in a single day.
MicroStrategy’s shares had plummeted more than 60%, thrusting the thirty-five year old software entrepreneur into the center of the dot-com crash.
The company later settled civil fraud charges with the US Securities and Exchange Commission over its accounting practices without admitting or denying wrongdoing. MicroStrategy did not cause the dot-com bubble to burst, but the saga was one of the era’s high-profile corporate blowups and the company became a symbol of the periods excesses and risks.