Michael Saylor says his firm’s strategy is strong enough to withstand even the harshest market conditions. According to him, the company’s structure was intentionally built to survive a Bitcoin crash of up to 80–90%, without disrupting operations.
Saylor Calls His Approach “Indestructible”
In a recent interview, Saylor emphasized that the firm’s balance sheet and long-term design allow it to remain stable during extreme downturns.
“The company can endure an 80% to 90% decline and continue operating without disruption,” he said.
He described the firm’s leverage profile as extremely strong and noted that its structure offers resilience against major shocks across the crypto economy.
These comments follow rumors that the company had started selling part of its Bitcoin treasury during the latest market downturn. Saylor flatly rejected the speculation, stressing that the firm remains committed to its accumulation strategy. He confirmed that the company even purchased more Bitcoin on Monday.
While the firm’s mNAV multiple has slipped to 1.11x due to broader market conditions, Saylor said this shift does not reflect any change in their core strategy.
The founder also said he isn’t concerned about large investors causing unusual volatility. When the company began buying Bitcoin in 2020, the asset’s annual volatility was around 80%. Today, he estimates volatility near 50%, showing growing market maturity. He believes volatility will continue to decline by roughly five percentage points every few years until Bitcoin eventually settles at 1.5x the volatility of the S&P 500.
Saylor Dismisses the Four-Year Cycle Theory
Saylor also reiterated that he no longer believes Bitcoin’s price is driven by the traditional four-year halving cycle. He argued that the next halving will remove around 225 BTC per day, which is insignificant compared to today’s circulating supply.
Despite short-term risks, Saylor expects Bitcoin to appreciate by roughly 30% annually over the next two decades. This long-term view is why he remains confident that the firm’s strategy would hold firm even if Bitcoin suffered an 80–90% decline.
Meanwhile, veteran trader Peter Brandt warned that Bitcoin could fall toward $50,000 if its current trend continues. Such a drop could test the company’s average purchase price, and Brandt even compared the potential scenario to the historic 1977 Soybean crash pattern.
