According to U.Today, Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, has come to the defense of Michael Saylor, co-founder of MicroStrategy, against a critic who accused Saylor of causing more harm than good to Bitcoin. Scaramucci dismissed the criticism as 'complete nonsense', praising Saylor as a guide for many in the cryptocurrency community and labeling him as 'the best explainer of Bitcoin'. The majority of cryptocurrency commentators have agreed with Scaramucci, arguing that it would be absurd to view Saylor's influence as negative given his commitment to the cryptocurrency.
However, some have pointed out instances where Saylor's advocacy for Bitcoin may have been excessive. In 2021, he controversially advised his followers to mortgage their homes to buy more Bitcoin at the height of a bullish cycle. This advice was criticized in 2022 during a Bitcoin price crash, with many accusing Saylor of leading them into financial disaster. Saylor defended his controversial comment, arguing that his critics had taken his words out of context.
Saylor, who notably lost $6 billion in a single day during the dot-com bubble crash in 2000, has since reinvented himself as a leading Bitcoin proponent. Despite facing ridicule during the bear market, Saylor has proven his critics wrong. MicroStrategy's stock has experienced a triple-digit rally this year due to the Bitcoin rally, and Saylor's net worth has exceeded $4 billion.