SQ - If You Invested $1000 In Block After Michael Saylor Called The Jack Dorsey-Led Company's $50M Bitcoin Investment 'Extraordinary' Here's How Much You'd Have Today | Benzinga
Michael Saylor, the CEO of MicroStrategy (NASDAQ:MSTR) in October 2020, hailed Square’s $50 million investment in Bitcoin (CRYPTO: BTC) as “extraordinary news.”
What Happened: MicroStrategy, a business intelligence firm, had already made substantial Bitcoin investments between August and September of 2020, totaling $425 million. Square, now called Block Inc (NASDAQ:SQ), led by Jack Dorsey, followed suit a few weeks later with a smaller investment.
Saylor, known for his bullish stance on Bitcoin, expressed that financial gain was not the motive behind Square’s decision, stating that “they’ve got more money than God.”
Comparing the performance of Microsoft (MSFT) and Square (SQ) over the past year reveals interesting insights.
On October 13, 2020, when Saylor made this comment, ...