Author: Curry, Deep Tide TechFlow
There's a reason why someone can hold onto 710,000 Bitcoins.
Last Friday, the U.S. Department of Justice released documents related to the Epstein case, spanning 3 million pages. Politicians, billionaires, celebrities—a string of names are popping out from these materials. And Michael Saylor, the founder of MicroStrategy (formerly known as MicroStrategy), is also in there.
However, Saylor's appearance is a bit special; he was at the table that got rejected.
From the currently available information, in 2010, Epstein's publicist Peggy Siegal complained in a private email:
"There's this guy named Saylor who spent twenty-five thousand dollars on a dinner ticket, and I was responsible for socializing with him. But this guy was completely impossible to talk to, like a drugged-up zombie. I couldn't stand it and ran away halfway through."
Peggy's main job was as a Hollywood movie publicist, with a side gig of organizing dinners for Epstein, essentially scouting for wealthy people to pull into the circle.
Socializing with the wealthy, helping them meet the right people at parties and dinners, having a good time, and spending money comfortably. After decades in the business, she's按理说 seen all kinds of billionaires.
But Saylor, she couldn't handle.
The reason wasn't that he had character flaws; it was that he was too dull. He paid to get in, sat there, couldn't engage in conversation, and had no interest in socializing whatsoever.
Peggy's exact words were,"I don't even know if I can take his money, I don't know where to start trying to manipulate him... He has no personality, completely不懂 social etiquette."
Now that the Epstein case has exploded, people on the list are busy distancing themselves. Saylor, on the other hand, never managed to挤进去 in the first place.
Being excessively boring and autistic became a protective shield.
But when this "boredom" is placed in a different context, it's another story.
Saylor's company, MicroStrategy (formerly known as MicroStrategy), is the publicly traded company holding the most Bitcoin globally. This January, when Bitcoin was still oscillating around $90,000, they bought over 37,000 more Bitcoins, spending $3.5 billion.
Buying almost every week, rain or shine.
As of now, MicroStrategy holds 712,647 Bitcoins, with an average cost of $76,037. And today, Bitcoin just fell below $76,000, meaning Saylor's position is right at the break-even line.
The market fear index hit a 20-week high, and the crypto world is filled with cries of despair. MicroStrategy's stock price has also fallen 60% from its peak.
But Saylor tweeted "More Orange," implying he will continue buying next week.
Back then, Peggy said he was like a zombie. Looking at it now, hoarding Bitcoin might be a job that only a zombie can do.
No explanations, no timing the market, no getting off the ride. No feeling for the outside world, and feeling good about oneself.
And while Peggy complained back then about not knowing how to help him spend money, Saylor has clearly found his way to spend it: buying Bitcoin with all of it.
Judging from that email, Saylor was an outsider in the world of fame and fortune. He couldn't sit still, couldn't hold a conversation, spent an evening as if he wasn't even there. But this kind of person can反而 sit still in trading.
No need to socialize, no need to manage relationships, no need to揣摩 others' thoughts. Just focus on one thing, buy every week, and never sell.
Dull, uninteresting, unfeeling towards the outside world... These traits are flaws in social settings, but when it comes to hoarding Bitcoin, they might be a talent.
After this news spread, classic memes have already appeared on Twitter,大意是 Saylor has no interest in underage girls but is extremely obsessed with underage assets.
From a hindsight perspective, this exposure has, to some extent, also树立了 a positive image for Saylor.
After the Epstein case broke out in 2019, Peggy, the publicist, had her contracts with clients like Netflix and FX全部取消, which basically ended her PR career; while Saylor is now one of the world's largest Bitcoin holders.
The rejected person is still buying Bitcoin, the person who rejected him is already out of the game.
But to be fair, Saylor's current situation isn't that轻松 either.
The new Fed Chairman Warsh is偏鹰, and the market expects he won't aggressively cut interest rates after taking office. Once interest rate expectations change, all kinds of assets globally face collective pressure.
Gold fell, silver fell, and Bitcoin fell even harder.
Coupled with tariff friction and tense U.S.-Europe relations, capital is starting to flee to traditional safe-haven assets. Bitcoin's narrative as "digital gold" is gradually fading.
If Bitcoin continues to fall, MicroStrategy's ability to raise capital by issuing new shares will become weaker and weaker, and the flywheel of币股轮转 could turn into a death spiral.
But Saylor really doesn't seem to care about these things; this might be the other side of "boredom."
Ordinary investors can't do what Saylor does, not because they lack money, but because they are too "normal." Normal people read the news, look at K-lines, and listen to what others say. When the fear index spikes, their hands start to itch, and their hearts start to ache.
They make decisions every day, and each decision消耗 willpower.
Whereas in Saylor's strategy, there似乎 isn't a "decision-making"环节. Buying is the only action; not selling is the only principle.
In his own words:"Bitcoin is the best asset ever invented by humankind, why would I sell?"
You can call this faith, or you can call it obsession. But from an execution perspective, the biggest advantage of this system is:
It doesn't require you to be smart, it only requires you to be boring.
Of course, this is not advice for you to imitate him. Saylor's底气 is a publicly traded company; he can issue stock, he can borrow money. Ordinary people don't have these;模仿 his posture will most likely only lead to losses.
But there is one thing that can perhaps be learned.
In investing, "fun" is often the source of losses.
Frequent trading, chasing hot topics, following news, using leverage... these behaviors that make investing "fun" are precisely the enemy of returns.
And the strategies that真正赚钱 are often so boring they make people want to sleep.
Saylor's case is a bit extreme, but the logic holds. In a market full of noise, "boredom" might be the most scarce ability.
Those who were skilled at socializing at parties back then are now either distancing themselves, under investigation, or have completely disappeared.
Perhaps, hoarding Bitcoin and being a person share the same principle:
Don't stay long in lively places; boring things are worth doing long-term.
