Bitgesell For Big Players
Bitgesell for Big Players
Have you heard of Michael Saylor? Michael Saylor, 59 years old, is an American entrepreneur, the founder of MicroStrategy and a fervent advocate of Bitcoin. From 1989 to 2022, Saylor served as the CEO of MicroStrategy, a company that offers business intelligence, mobile software and cloud-based services.
In 2022, the Securities and Exchange Commission (SEC) accused him of fraudulently reporting MicroStrategy's financial results. After reaching a settlement with the SEC, he paid fines of $350,000 and personally refunded $8.3 million.
Earlier June, Michael Saylor and MicroStrategy agreed to pay $40 million to settle a tax fraud lawsuit brought by the Attorney General of Washington, D.C. In the lawsuit, Attorney General Brian Schwalb alleged that Saylor lived in Washington, D.C., for several years but falsely claimed residency in other states to avoid paying higher income taxes in D.C.
Since he began investing in Bitcoin in 2020, Saylor has accumulated billions of dollars, becoming a passionate advocate for the cryptocurrency. He started investing in Bitcoin in the same year that Bitgesell was founded. On September 19, 2024, MicroStrategy reported to the SEC that it held 252,220 bitcoins, valued at a total of $15.6 billion.
Does Michael Saylor become an untrustworthy figure for investing in Bitcoin due to his involvement in tax fraud or tax evasion? No. He could have easily avoided these public complications by staying in the shadows, as many others do. This way, no one would have known who owned his bitcoins! But would Bitcoin be as so famous today without the contributions of Michael Saylor & MicroStrategy? Probably not. Smaller and smarter investors tend to follow the lead of larger investors.
Currently, the three largest known holders of BTC are Satoshi Nakamoto with 1.1 million BTC, Binance with 504,000 BTC, and MicroStrategy with 252,220 bitcoins (1,2% percent).
As of October 1, 2024, at the price of $0.047 per BGL, it would be easy for you to become the "Michael Saylor & MicroStrategy" of Bitgesell by purchasing 252,220 BGL for just $12,056. To own 504,000 Bitgesell coins, you would need to spend $23,688, and to hold 1.1 million BGL, it would only cost $51,700.
In the Bitgesell currency, owning the same amount of coins as MicroStrategy holds in Bitcoin would grant you the status of owning 1.27% of all existing coins. This is because there will never be more than 19,748,607 coins in circulation on October 2, 2024, due to the fact that, up until the time of writing this article, a total of 1,251,393 BGL has been burned over the past 54 months.
Which of these roles would you like to play as a Bitgesell holder? In the market, the Michael Saylor case shows that the strong belief of a well-known figure encourages investment from smaller investors. And Bitgesell has everything it needs to replicate what Bitcoin achieved in its first 10 years. With or without Michael Saylor. It all depends on you!
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