Strategy's Michael Saylor on the crypto sell-off and the company's approach to buying more bitcoin

Market Overview - The current selloff in Bitcoin has seen its price fall below $90,000, indicating the volatility of the asset [1] - Historical patterns show that there have been 15 significant drawdowns in the last 15 years, suggesting the market is overdue for a correction [1] Company Strategy - The company has recently announced a substantial purchase of Bitcoin, indicating a strategic approach to timing in the market [2] - The business model involves issuing digital credit backed by Bitcoin, which is a key driver for their purchasing decisions [3] Financial Instruments - Recently, the company sold approximately $130 million worth of treasury credit and a European credit instrument valued at about $700 million [3] - These credit instruments offer dividends, potentially reaching 10% at par, and are supported by Bitcoin over time [3] - Capital acquired from selling these credit instruments is reinvested into purchasing Bitcoin, linking credit market performance to Bitcoin acquisition [4]