Michael Saylor Under Fire After Claiming Bitcoin Will Surge To $10M Tomorrow If ‘People Agreed With Him'

Core Insights - Michael Saylor, executive chairman of Strategy, faces criticism for claiming Bitcoin could reach $10 million "tomorrow" if people agreed with his views, despite the company's significant unrealized losses in Bitcoin holdings and declining share price [1][6]. Group 1: Company Performance - Strategy's Bitcoin holdings are experiencing multibillion-dollar unrealized losses as the price of Bitcoin continues to decline [1][6]. - The company's share price is also falling, indicating financial strain on its balance sheet [1][2]. Group 2: Market Commentary - Saylor argues that Bitcoin's price volatility is beneficial for committed investors, as it deters short-term participants [3]. - He suggests that a lack of consensus is holding back Bitcoin's price, claiming that if more people understood his perspective, the price could surge to $10 million [4]. Group 3: Public Reaction - Saylor's comments have sparked significant backlash on social media, with users questioning his logic and comparing Bitcoin to past speculative bubbles [5]. - Critics have pointed out various technical and economic concerns regarding Bitcoin, including energy costs and miner economics [6].