Economist compares Michael Saylor to 'conman' Bankman-Fried

3 weeks ago 8

Anand Sinha

Thu, December 11, 2025 astatine 10:51 AM CST 4 min read

Michael Saylor, the laminitis and enforcement president of the bundle enterprise-turned-Bitcoin (BTC) treasury institution MicroStrategy (NASDAQ: MSTR), is facing terrible attacks from antithetic quarters.

Founded successful 1989, MicroStrategy—later rebranded to Strategy—began accumulating Bitcoin successful 2020 and adjacent the ongoing crypto marketplace clang hasn't deterred the institution from purchasing BTC.

In fact, it has doubled down connected the long-running acquisition operations and bought 10,624 BTC past week contempt the menace of being excluded from the Morgan Stanley Capital International (MSCI) index.

Michael Saylor, co-founder and enforcement president of MicroStrategy Inc., during The White House Digital Assets Summit successful the State Dining Room of the White House successful Washington, DC, US, connected Friday, March 7, 2025.

In a caller letter, Strategy referred to the MSCI's proposal to exclude companies with equilibrium sheets consisting of much than 50% integer assets as "misguided," "discriminatory," "arbitrary," and "unworkable."

With 660,624 BTC successful its stack, Strategy is the world's largest firm Bitcoin treasury company.

Related: MicroStrategy sends crisp informing missive to MSCI

During a keynote code astatine the Bitcoin MENA league connected Dec. 9, Saylor further amplified his Bitcoin transportation and said the institution is going to bargain each of it.

“Bitcoin is integer capital.”

The billionaire tech tycoon characterized Bitcoin as the instauration of a caller epoch successful integer superior and credit.

Leading U.S. banks, including Bank of America, Wells Fargo, JP Morgan, and Citi, which earlier viewed Bitcoin with suspicion, are present embracing the integer asset, helium underlined.

The U.S. administration, including its regulatory arms, has besides travel retired successful unfastened enactment of Bitcoin, helium added.

Bitcoin is a yield-generating recognition conveyance and tin adjacent become the instauration of a integer recognition strategy successful the future, akin to however gold has been functioning arsenic the instauration of recognition instruments for centuries now, Saylor argued.

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However, not everyone is convinced of Saylor's vision.

Peter Schiff, main economist and main enforcement serviceman of Euro Pacific Capital Inc., speaks during the Skybridge Alternatives (SALT) league successful Las Vegas, Nevada, U.S., connected Thursday, May 9, 2019.

Economist and hedge money manager Peter Schiff slammed Saylor arsenic a "bigger conman" than Sam Bankman-Fried "SBF," the disgraced laminitis and erstwhile CEO of the bankrupt crypto speech FTX.

Bankman-Fried founded FTX successful 2019 and turned it into the world's third-largest crypto speech successful presumption of trading measurement astatine its highest successful July 2021. However, the institution was recovered to be committing fiscal fraud and was forced to file for Chapter 11 bankruptcy successful November 2022.