Amid Crypto Plunge, Longtime Bitcoin Bull Michael Saylor Falls From Billionaire Ranks

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Crypto investors are reeling from the recent market downturn, but few have lost more than Michael Saylor, the tech CEO who’s staked his company’s future on Bitcoin.

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Saylor, who was worth $1.6 billion at the beginning of March, saw his net worth drop below the $1 billion mark on Wednesday, according to Forbes estimates.

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His fortune is largely tied up in MicroStrategy stock and Bitcoin, two assets that have tumbled during the recent market selloff.

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Shares of software company MicroStrategy, which Saylor cofounded in 1989, are down more than 61% in the last month, including nearly 30% in the last two days.

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Bitcoin, the world’s largest cryptocurrency, has fallen 38% since late March, when it traded at around $48,000; it has shed over $300 billion in market value since then.

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Few companies have hitched their wagons to Bitcoin as Microstrategy has. The software company, which does not provide services in the cryptocurrency sector, has plowed over $4.5 billion into buying Bitcoin at the direction of Saylor, its CEO.

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