Bitcoin Price Pullback Won’t Shake Strategy, Says Saylor

Highlights:

• Michael Saylor dismissed concerns that Wall Street is hurting Bitcoin’s price and performance.
• He noted Bitcoin’s volatility eased from 80% in 2020 to about 50% today.
• Saylor said Strategy can handle huge losses and remain strong despite market downturns.

Bitcoin’s price has fallen sharply in recent days, which raises concerns about the influence of major financial firms on the market. Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), addressed these concerns during a Fox Business interview on Tuesday.

Saylor responded directly to questions about whether large institutions damaged Bitcoin’s performance. He pushed back strongly and highlighted a pattern of calmer market behavior compared with earlier years. He pointed out that when Strategy entered Bitcoin in 2020, the asset carried around 80% annualized volatility, a number he says has been edging lower over time.

₿etter than Ever. Today I was the warm-up act for @natbrunell as we both talked Bitcoin with @cvpayne. You’ll want to hear what she had to say. pic.twitter.com/vDaFceyeza

— Michael Saylor (@saylor) November 18, 2025

Saylor said Bitcoin’s volatility is around 50% now and may slowly go down over the next few years as it gets older. He added that Bitcoin could move about 1.5 times more than the S&P 500 Index but could give 1.5 times better returns. Over the past week, Bitcoin has dropped nearly 12%, trading around $91,191, according to CoinMarketCap.

Strategy’s Financial Position Amid Market Weakness

Recent market pressure also affected Strategy’s financials. The company’s Bitcoin reserve stands at 649,870 coins, valued at about $59.59 billion at the time, according to SaylorTracker. He said this reserve shows long-term strength and repeated, “Bitcoin is stronger than ever,” during the interview.

Still, market weakness impacted Strategy’s performance. The firm’s mNAV multiple dropped to 1.11x from around 1.52x on October 5, when Bitcoin hit an all-time high of $125,100. mNAV shows the company’s market value compared to the net value of its Bitcoin holdings. Share prices also fell with the broader market, with MSTR closing Tuesday at $206.80, down 11.50% over the past five sessions, according to Google Finance.

Saylor Confident About Company’s Resilience

Saylor did not appear worried about any deeper pullback. He repeated a position he has shared during earlier market shakes. “The company is engineered to take an 80 to 90% drawdown and keep on ticking,” he said, offering a confident tone despite the current downturn.

He reinforced that message further by adding, “So I think we’re pretty indestructible.” He continued with a comment regarding company structure: “Our leverage is in the know, the level of the 10 to 15% going toward zero right now, which is extremely robust,” he claimed. His comments formed a clear contrast to market fear following Bitcoin’s latest decline.

Analysts Highlight Risks of Saylor’s Bitcoin Holdings on the Market

Samosa Capital Investment Fund warned that Michael Saylor’s Bitcoin strategy might be hurting Bitcoin’s price, which could be bad for the Bitcoin community. They explained that Strategy, his company, is “a highly leveraged holding company traded on public exchanges that could blow up,” and said this goes against what Bitcoin was meant to do.

Michael Saylor is a net negative for the bitcoin community

A highly levered holding company traded on public exchanges that could blow up is exactly the opposite of what bitcoin was intended to be

— Dr. Parik Patel, BA, CFA, ACCA Esq. (@ParikPatelCFA) December 18, 2024

Vinny Lingham, economist and co-founder of Praxos Capital, also criticized Saylor, warning that Strategy could cause more harm to Bitcoin and the crypto market than even FTX’s collapse did. Data from CryptoQuant shows that this recent Bitcoin drop has put about 40% of Strategy’s 649,870 BTC holdings in the red zone.

Saylor’s Portfolio Turns Red?

He announced the purchase of 8,178 BTC at an average price of $102,171, about 10% above current market levels.

This recent bitcoin move puts ~40% of Strategy’s 649,870 BTC holdings in the red, with only 60% still in profit. pic.twitter.com/hii0BmV95P

— CryptoQuant.com (@cryptoquant_com) November 18, 2025