Michael Saylor: 'Nothing great has ever been created by a short seller'

Core Viewpoint - Michael Saylor, executive chairman of Strategy (MSTR), defends the company's digital asset treasury (DAT) strategy against short sellers, emphasizing that skepticism often stems from a lack of understanding of bitcoin and digital capital [1][2]. Company Performance - Strategy stock has declined by 22% year to date, with a significant portion of this drop occurring in the last six months, while bitcoin has increased by 10% during the same period [3]. - Current short interest in Strategy is approximately 8.8%, indicating a notable level of bearish sentiment among investors [3]. Market Trends - There are over 193 public companies holding bitcoin on their balance sheets, with 94 identified as pure-play imitators of Strategy based on their business models and funding methods for bitcoin purchases [4]. - Approximately 50% of these imitators have market capitalizations that have fallen below the value of their bitcoin holdings, a rise of 25 percentage points from late September [5]. Industry Outlook - Saylor remains optimistic about the digital economy, stating that the fundamentals of the industry have improved significantly over the past year, presenting a favorable risk-reward opportunity for investors [6].