Bitcoin has fallen 15% over the past month, once dipping below $90,000. MicroStrategy (Strategy)'s stock price has plummeted 30% in a single month, sparking heated discussions in the market. Founder Michael Saylor emphasized that Bitcoin's fluctuation will gradually decrease as it matures, and the company can withstand a fall of 80% to 90%. However, well-known gold long positions Peter Schiff countered by saying, “MicroStrategy will ultimately go bankrupt.”
Saylor is not worried about Wall Street entering: Fluctuation is steadily declining.
Even though Bitcoin has retraced its accumulated gains since 2025 this week, Saylor still expressed an optimistic attitude in an interview with Fox Business.
He believes that the market generally misunderstands the pressure that Wall Street's entry is causing on Bitcoin; in fact, the volatility is steadily decreasing. He recalls that when the company first bought BTC in 2020, the annualized volatility of Bitcoin was about 80%, and it has now fallen to around 50%.
He anticipates that in the future, the volatility of Bitcoin will decrease by another five percentage points every few years, ultimately reaching a level of “1.5 times the volatility of the S&P 500 index, but with a 1.5 times return.” In other words, the entrance of institutional funds will not be a source of volatility, but rather a part of maturation.
(MicroStrategy significantly increased its investment in Bitcoin, holding nearly 650,000 BTC, with a target price of $585)
MicroStrategy mNAV fell, and the stock price was halved in a month. Saylor: Not afraid of a 90% fall.
As Bitcoin falls, MicroStrategy's holding strategy is once again under scrutiny.
SaylorTracker data shows that MicroStrategy currently holds approximately 64.9 Bitcoins, worth over 59.6 billion USD. The company's mNAV has fallen from about 1.52 times to 1.11 times since Bitcoin hit a historical high of 125,000 USD in October.
In terms of stock price, $MSTR has fallen 30% in the past month and 50% in the last six months. However, Saylor has not shown weakness due to the market pullback:
MicroStrategy is meticulously designed to continue operating even under a fall of 80% to 90%, and we can say it is almost indestructible.
He also added that the company's leverage ratio is gradually decreasing, and its capital structure remains very robust under pressure.
Archrival sings doom: Peter Schiff claims that the microstrategy will ultimately go bankrupt.
Saylor's optimistic remarks quickly attracted the sarcastic ridicule of old friend and gold bull Peter Schiff. He has always viewed Bitcoin as a bubble, and this time he criticized MicroStrategy as essentially a “fraud company.”
He stated that MicroStrategy's preferred stock yield will be difficult to sustain and predicted that the company will eventually go bankrupt:
I can't see how MicroStrategy is going to escape bankruptcy, those interest payments will not be made.
( Bitcoin will depreciate 40% against gold in 2025, economist Schiff: Sell Bitcoin! )
Data Defense: Schiff Criticizes Saylor for Selective Data Beautification of Performance
Schiff also pointed out the data cited by Saylor, criticizing Saylor's statement that Bitcoin has averaged a 50% increase over the past five years, with MicroStrategy even reaching 70%: “This calculation is significantly inflated by the extreme bull market of 2020, and is just a typical case of 'cherry-picking years to beautify performance.'”
He pointed out that the average annualized return rate of Bitcoin from 2020 to 2025 is indeed correct, but when expanded to 2021 to 2025, the annualized return of Bitcoin is actually less than 20%: “In the past year, Bitcoin has remained almost flat, while MSTR has dropped nearly 50%.”
Schiff believes that Saylor's avoidance of discussing the performance over the past year is a deliberate attempt to obscure risks, allowing investors to overlook MicroStrategy's capital structure.
Today, the confrontation between Saylor and Schiff symbolizes the market's inconsistent attitude towards Bitcoin at its current stage. It is foreseeable that these debates will continue endlessly.
In this article, Saylor is not afraid of a 90% fall in Bitcoin, “MicroStrategy is unbreakable,” Schiff is pessimistic: it will ultimately go bankrupt. First appeared on Chain News ABMedia.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin spot ETF experienced a net inflow of $767 million last week, while BlackRock's IBIT recorded weekly net inflows of $601 million.
According to SoSoValue data, from March 9-13, Bitcoin spot ETF net inflows reached $767 million, marking three consecutive weeks of increases. BlackRock's ETF IBIT saw net inflows of $601 million, Fidelity's ETF FBTC received $148 million in net inflows, while Grayscale's Bitcoin Trust GBTC experienced outflows of $25.8498 million. As of press time, total net assets reached $9.183 billion, with cumulative net inflows of $5.614 billion.
GateNews15m ago
Santiment: Large Bitcoin Wallets Resume Accumulation, Fear and Greed Index May Diverge from ETF Inflows
According to data from on-chain analytics firm Santiment, as Bitcoin's price stabilizes near $71,000, large address holders now control approximately 68.17% of circulating supply, demonstrating an accumulation trend. Bitcoin reserves on exchanges have also fallen to eight-year lows, indicating that holders are more inclined toward long-term storage rather than selling. Despite the market's fear index remaining elevated, the renewed accumulation by large holders may signal a potential price rebound and provide structural support to the market.
MarketWhisper24m ago
Analyst: After the options expiration on March 20, the market is betting on BTC surging to $75,000
According to crypto analyst Murphy's analysis, the GEX data expiring on March 20 shows approximately $180 million in Long Gamma structure near $74,000, which suppresses price volatility. Therefore, BTC price will oscillate around that level. After the expiration date, changes in the options structure suggest market bets on BTC rallying toward $75,000, with resistance near $80,000, while support is found in the $65,000-$67,000 range.
GateNews29m ago
Strait of Hormuz shipping crisis impacts industrial metals, BTC reclaims $71,300
Middle East tensions escalate as U.S. military takes action against Iranian energy facilities. Iran warns of retaliation, Strait of Hormuz transit volume declines, shipping risks rise, and aluminum supply chains tighten. U.S. 2022 GDP revised down to 0.7%, PCE remains at 3.1%, and the job market stays resilient. In the crypto market, BTC returns to the key level of 71,300 dollars.
GateNews43m ago
Bitcoin Approaching $73,000: Strong ETF Capital Inflows, BTC May Challenge $80,000 Level
Bitcoin's recent price rebound is approaching $73,000, driven by institutional capital inflows and geopolitical factors. Mainstream crypto assets such as Ethereum and XRP have also risen in sync. Research indicates that Bitcoin's gains are primarily sourced from ETF capital inflows and increased institutional holdings, with market sentiment recovering. Technical analysis shows $70,000 to $71,000 as support levels, with a breakthrough above $75,000 potentially triggering stronger gains.
GateNews52m ago
Whale Closes WTI Crude Oil Short Position for $473K Profit, Retains $48M BTC and Nasdaq Positions
In the past 4 hours, the address marked as "Heavy Position Layout in Three Major Markets" has reduced its WTI crude oil short position by 51,025 lots, worth approximately $5.05 million, with profits of about $473,000. The current position has decreased to $2.5 million, with only cryptocurrency and US stock positions remaining.
GateNews57m ago
