The Great Read: Is This Billionaire a Financial Genius or a Fraudster?
Michael Saylor’s financial alchemy thrust an ordinary software company, Strategy, into the center of the crypto frenzy. It all worked spectacularly, until now.
The New York Times
The Great Read

January 16, 2026, 2:01 p.m. Eastern time

On weekdays and Sundays, we recommend one piece of exceptional writing from The Times — a narrative or essay that takes you someplace you might not expect to go.

In an illustration, beams of green light streak from a man’s eyes. A burning coin bearing the Bitcoin logo floats above his open right hand, which he raises in front of him.

Valentin Tkach

Is This Billionaire a Financial Genius or a Fraudster?

Michael Saylor’s financial alchemy thrust an ordinary software company, Strategy, into the center of the crypto frenzy. It all worked spectacularly, until now.

Open now

If you received this newsletter from someone else, subscribe here.

Need help? Review our newsletter help page or contact us for assistance.

You received this email because you signed up for top stories or great reads from The New York Times.

To stop receiving The Great Read, unsubscribe. To opt out of other promotional emails from The Times, including those regarding The Athletic, manage your email settings.

Subscribe to The Times

Connect with us on:

facebookxinstagramwhatsapp

Change Your EmailPrivacy PolicyContact UsCalifornia Notices

LiveIntent LogoAdChoices Logo

The New York Times Company. 620 Eighth Avenue New York, NY 10018