Michael Saylor Says Strategy Will Keep Buying Bitcoin Despite Market Slide

Strategy Inc. co-founder Michael Saylor says the company will continue its long-term Bitcoin buying plan despite last week’s 9% BTC drop and the fall in MSTR shares.

While he did not hint at new purchases soon, Saylor confirmed that the company still strongly believes in Bitcoin and plans to keep adding to its holdings over time.

His statements followed a community poll that showed 77.8% of the participants held their Bitcoin throughout the week, even as the price fell toward $80,000.

The poll results indicated that everyday  Bitcoin holders still have confidence, despite the fast price drop. This also aligns with Saylor’s long-term view that market volatility wouldn’t change the company’s plan.

Strategy’s Bitcoin Gains Persist While Stock Faces Sharp Decline

Strategy currently owns approximately 649,870 Bitcoin, purchased at an average price of $74,430 each. Despite the recent market crash, the company is still up about 16% on its holdings.

However, the company’s stock hasn’t held up as well. According to TradingView data, MSTR has dropped toward $170 level, almost wiping out the extra value it had over the company’s Bitcoin holdings.

The drop in the stock has put a spotlight on Strategy’s overall value and raised questions about whether the company has enough financial cushion to handle a bigger market downturn.

Bitcoin Faces Pressure Amid Fed Moves and Market Criticism

Bank of America’s top strategist, Michael Hartnett, says the Federal Reserve needs to cut interest rates. He warned that Bitcoin could be the first to react, putting additional pressure on its price.

At the same time, Bitcoin’s drop from over $120,000 has drawn criticism from skeptics like Peter Schiff, who said that as Bitcoin passes from strong holders to weak ones, it could trigger even bigger sell-offs.

He added that Bitcoin is the riskiest asset in the market and tends to get hit hardest when the market is under stress.