From Early Michael Saylor Bet to Billions in Deals: How Jefferies Became a Crypto Powerhouse

It all started in 2019, when a relatively small software company called MicroStrategy (now known as Strategy) knocked on investment bank Jefferies' door after being turned away by Wall Street giants. At the time, Michael Saylor's firm had a market cap of nearly $2 billion and was looking to raise capital to buy bitcoin—something bulge bracket banks were reluctant to support. Jefferies took a chance on Saylor, marking a pivotal deal for the investment bank and the digital assets sector.Now, Saylor's firm is worth about $111 billion in market cap, other companies are buying bitcoin for their balance sheets, and large Wall Street firms are piling into the digital assets sector source: https://www.coindesk.com/business/2025/05/13/from-early-michael-saylor-bet-to-billions-in-deals-how-jefferies-became-a-crypto-powerhouse