Michael Saylor said his company Strategy can endure a substantial bitcoin drawdown, citing lower volatility and a conservative leverage profile.

Saylor's assessment

In an interview, Saylor listed three main points about bitcoin and his firm’s resilience, emphasizing changed market conditions and balance-sheet strength.

• He stated that annualized bitcoin volatility has decreased from 80% in 2020 to 50% at present.
• He added that Strategy could withstand a 80–90% bitcoin decline and continue operations due to low leverage.
• He characterized bitcoin's condition with a succinct assertion about its current state.

«Bitcoin is stronger now than ever»

Saylor argued that these factors support the company’s capacity to absorb deep price corrections while maintaining business continuity and strategic positioning.

Market skepticism

Market commentators presented a differing view, stressing downside risks if speculative patterns repeat and infrastructure or demand fail to materialize as expected.

Trader Peter Brandt warned about the potential consequences for Saylor’s firm should a speculative episode recur with bitcoin, citing a historical analog from commodity markets.

«go underwater»

Brandt’s comment suggested that under an adverse repeat of the soybean-bubble scenario applied to bitcoin, the company could face severe balance-sheet pressure and valuation stress.

Observers note the exchange of viewpoints reflects an ongoing debate about risk tolerance, leverage management and the implications of changing volatility metrics for long-term holders.