Saylor Defends Long Term Bitcoin Strategy

While the crypto market wavers and investors hold their breath, every statement from a sector leader becomes a decisive signal. Michael Saylor, co-founder and executive chairman of Strategy, reappears at the center of the game at a critical moment. As rumors of bitcoin sales spread, he answers frankly. Between prolonged price drops, loss-making results, and stock market tension, his statement sounds like an act of faith, or a risky bet, to defend a strategy that has become emblematic.

Saylor reaffirms his absolute commitment to Bitcoin

In a series of statements, Michael Saylor dispelled fears of an imminent sale of Strategy’s bitcoin holdings, as the market plunges into extreme fear.

“Concerns that Strategy will sell its bitcoins are unfounded,” he stated. To strengthen this position, he indicated that the company has enough liquidity to cover operating expenses, including dividend payments and debt service, for up to two and a half years. He even specified that in case the price falls to $8,000, Strategy plans to “refinance the debt” rather than sell its cryptos.

Saylor also recalled that the company will continue its accumulation strategy regardless of market conditions. “We will buy bitcoin every quarter, forever,” he declared. This statement fits into a long-term vision based on a deep conviction, as bitcoin is considered, according to him, a superior store of value.

To support his position, Saylor presents several operational and financial arguments :

• Strategy would have enough cash to avoid any short or medium-term BTC sales ;
• The company believes it can cover its debt and dividend obligations without liquidating its cryptos ;
• In case of extreme market downturn, refinancing is preferred over selling, even with BTC at $8,000 ;
• The quarterly bitcoin buying policy remains unchanged, regardless of market conditions.

Through this statement, Michael Saylor aims to reaffirm the stability of the strategy deployed over several years, while countering concerns expressed by some analysts regarding persistent downward pressure on the market.

Massive losses and growing market skepticism

Beyond principle statements, Strategy’s financial reality is more delicate. The latest quarterly report shows a net loss of $12.4 billion in Q4 2025, a figure directly linked to the price drop, which is far below the company’s average crypto acquisition cost.

With over 714,000 BTC in its portfolio, purchased on average around $76,000 each, the company currently shows significant latent losses on paper. Strategy’s (MSTR) stock has dropped more than 70% from its highs while short sellers’ interest on the stock has surged, reflecting a loss of market confidence in the company’s ability to maintain this strategy smoothly.

This situation makes external financing prospects more complex. The heavy discount of the stock relative to the theoretical value of bitcoins held reduces the company’s maneuvering room, especially if it wishes to issue new shares or raise funds without significantly diluting existing shareholders.

Saylor’s displayed enthusiasm thus contrasts with signals sent by the market, which seems to anticipate possible difficulties if the Bitcoin price does not rebound sustainably. Strategy is currently going through a period where its accumulation policy could be seen as a risky bet.