Bitcoin Craters 50% so Saylor’s Strategy Smiles, Buys More

Core Insights - Bitcoin has experienced a significant decline of approximately 50% from its all-time high, yet Michael Saylor, Executive Chairman of Strategy, remains bullish and is "doubling down" on his investment in Bitcoin [1][4] Group 1: Bitcoin's Volatility and Utility - Saylor emphasizes that Bitcoin is "digital capital" and inherently more volatile than traditional assets, predicting it will be two to four times more volatile than gold, equities, or real estate [2] - He argues that Bitcoin's volatility is a feature rather than a bug, highlighting its utility as a global capital asset that can be leveraged and traded in various ways [2] Group 2: Investment Strategy and Holdings - Strategy recently purchased an additional 1,142 Bitcoin for about $90 million, bringing their total holdings to 714,644 Bitcoin, acquired for $54.35 billion at an average price of $76,056 each [5] - Despite the current downturn, Saylor expresses confidence in Bitcoin's future, stating he will continue to invest even if the price drops significantly over the next few years [5] Group 3: Market Impact and Stakeholder Sentiment - The aggressive "Bitcoin Treasury" model employed by Strategy may cause anxiety among stakeholders, particularly bondholders of the firm's $8 billion in convertible notes, given Saylor's unwavering bullish stance [6] - The stock price of MSTR, which is closely tied to Bitcoin's performance, has also suffered, currently trading at $137, down from a high of $542 [7]