Michael Saylor Defends Bitcoin Strategy Amid Market Turmoil & $12.4B Loss
Michael Saylor, chairman and co-founder of Strategy, has publicly dismissed concerns that his company will sell its substantial Bitcoin holdings amid a recent market downturn. The statements came as Strategy reported a $12.4 billion net loss for the fourth quarter of 2025, largely attributed to the decline in Bitcoin’s price.
Saylor asserted that reports suggesting Strategy would liquidate its Bitcoin reserves are “unfounded.” He indicated the company maintains sufficient liquidity to cover operating expenses, including debt service and dividend payments, for up to two and a half years without needing to sell its cryptocurrency assets. He further stated that even if Bitcoin were to fall to $8,000, Strategy would prioritize refinancing debt rather than selling its holdings.
“We are going to buy Bitcoin every quarter, forever,” Saylor declared, reaffirming a long-term accumulation strategy regardless of market conditions. This commitment underscores his belief in Bitcoin as a superior store of value.
As of February 9, 2026, Strategy held 714,644 Bitcoin, acquired at an average price of $76,056 per coin, representing a total investment of approximately $54.35 billion. The company recently added 1,142 Bitcoin to its holdings, purchasing them for roughly $90 million, or $78,815 each, prior to the most significant price declines last week, according to a report from CoinDesk.
Despite Saylor’s confidence, Strategy’s financial performance has been significantly impacted by the recent cryptocurrency market volatility. The company’s stock (MSTR) has fallen by more than 70% from its peak and short interest in the stock has increased, reflecting growing market skepticism about the sustainability of Strategy’s business model. The current price of Bitcoin is trading at just under $69,000, down 2.6% over the past 24 hours, as of Monday morning, February 10, 2026.
The company’s strategy of issuing stock to purchase Bitcoin has drawn criticism, with some analysts suggesting it resembles a Ponzi scheme. A report from Fortune highlighted concerns about Strategy’s ability to navigate the current market headwinds and avoid becoming the first major crypto firm to collapse. Saylor previously faced similar scrutiny in 2000 with a prior company, experiencing a $6 billion personal loss due to an accounting scandal.
BitMine Immersion, a digital asset treasury firm backed by Fundstrat’s Tom Lee, similarly made a significant purchase of Ethereum during the recent market downturn, acquiring $85.5 million worth of the cryptocurrency. This occurred as both crypto equities and digital assets faced pressure due to broader market uncertainty.