Could Microstrategy's Bitcoin Buys Prove To Be Bitcoin's Most Important Moment?

Suppose Bitcoin and crypto continue growing at the same rate. Will we look back at the most recent cycle and recognize Microstrategy's Bitcoin purchases as the catalyst moving it beyond the tipping point?

Photo by Nicholas Green on Unsplash

I'm embarrassed to admit it, but I enjoy Miley Cyrus. I wouldn't go to one of her concerts, but I will turn up her songs when I hear them in my car. So the other day, I thought, "Would Miley Cyrus be the star she is today if her father wasn't Billy Ray Cyrus?" If you need to get more familiar with Billy Ray Cyrus, he sang the 1990s mega-hit Achy Breaky Heart. Although, I'll proudly admit I wasn't much of a Billy Ray fan.

However, did Billy Ray's connections, fame, and musical knowledge (I have a hard time calling it talent), catalyze Miley Cyrus's career? In other words, if Billy Ray Cyrus didn't sing Achy Breaky Heart or achieved modest musical fame, would Miley be as big as Miley is today?

I don't say this to detract from or criticize Miley's talent. On the contrary, I've already admitted that I like her music. But would Miley Cyrus be a household name without her dad?

I'll admit this is a thin connection to Bitcoin and Microstrategy. Still, fifteen years from now, will we look back at Microstrategy's Bitcoin purchases over the past two years and think of Michael Saylor as Bitcoin's Billy Ray?

If you are still reading at this point, I promise the content in this article will be better. If you still need to read my other article, How Microstrategy's Bitcoin Purchases Could Doom Bitcoin, please check it out. I discuss some potential drawbacks and risks of Microstrategy's Bitcoin buys. But in this piece, I will share three arguments why Microstrategy's purchases may be one of the essential catalysts in Bitcoin history.

My Bias

I own Bitcoin. I own Microstrategy. It's in my best interest if the price of Bitcoin and Microstrategy goes up. I believe in a lot of the theories behind Bitcoin. However, I also realize that it's not foolproof, has a risk of failing, and I could look back at this time and…