Key Takeaways

• Strategy’s Michael Saylor dismissed suggestions that Wall Street’s increasing involvement has made Bitcoin more volatile, claiming the asset is actually “getting a lot less volatility.”

• Saylor cited data showing Bitcoin’s annualized volatility has decreased from roughly 80% in 2020 to around 50% today, indicating a trend toward market maturity.

• Despite Bitcoin’s recent 12% price plunge, Saylor remains confident in Strategy’s strategy, stating the company is engineered to survive an “80 to 90% drawdown” without being concerned.

Saylor Argues for Bitcoin’s Maturing Volatility

Strategy executive chairman Michael Saylor has once again taken a bullish stance on Bitcoin’s long-term health, even as the asset experiences significant short-term price turbulence.

In a recent interview, Saylor was directly asked about concerns that the influx of institutional money, specifically from Wall Street, was making Bitcoin’s price action more chaotic. He shrugged off these suggestions, asserting that Bitcoin is, in fact, “getting a lot less volatility.”

Saylor backed his claim with historical data, stating that when he first began accumulating Bitcoin for Strategy in 2020, the asset’s annualized volatility was approximately 80%. He noted that this figure has since trended lower and now sits around 50%. He projects this trend will continue, with Bitcoin’s volatility likely to reduce by another five points every few years as it matures. Saylor envisions a future where Bitcoin is only about 1.5 times as volatile as the S&P 500 Index, while maintaining its superior performance profile, suggesting a transition from a speculative asset to a more established store of value.

Strategy’s Portfolio Under Short-Term Pressure

Saylor’s optimistic outlook comes in the wake of a tough week for the cryptocurrency. Bitcoin has fallen nearly 12% over the past week, dropping to $91,616 and shaving off all the gains it had accumulated in the year 2025. This market crash directly impacted Strategy’s valuation metrics.

The firm, which holds a staggering 649,870 Bitcoin, saw its mNAV (multiple on net asset value), a measure of the premium or discount of its stock price relative to its underlying BTC holdings, slip to 1.11x. This is a noticeable drop from the 1.52x premium recorded when Bitcoin hit its all-time high of $125,100 in early October.

Consequently, shares in Strategy (MSTR) closed down 11.50% over five days, trading at $206.80. Despite these recent setbacks, Saylor emphasized that “Bitcoin is stronger than ever,” relying on his long-term conviction over short-term price fluctuations.

Engineering for an Extreme Downturn

Perhaps the most powerful defense Saylor offered was his insistence that the company’s structure is “pretty indestructible.” He stated that he would not be concerned even if Bitcoin were to experience an “80 to 90% drawdown.” Saylor claims the company is “engineered to take an 80 to 90% drawdown and keep on ticking,” pointing to the firm’s leveraged position which he claims is “extremely robust.”

This assertion is a direct counter to bearish warnings, such as that from veteran trader Peter Brandt, who cautioned that Strategy could be left “underwater” if Bitcoin’s current chart pattern replicates historical bubble scenarios like the 1970s soybean market. Saylor’s continued confidence suggests a complete faith in the engineering of his corporate treasury strategy to weather any potential crypto winter.

Final Thoughts

Michael Saylor’s defense of Bitcoin’s volatility trend is a deliberate attempt to manage institutional sentiment, positioning the asset not as a fragile speculation but as a maturing, less volatile store of value. While Strategy’s stock metrics reflect recent pain, Saylor’s confidence in the company’s ability to survive a dramatic market crash serves as a strong, if audacious, message to investors.

Frequently Asked Questions

What does Michael Saylor claim about Bitcoin’s volatility?
He claims that Bitcoin is “getting a lot less volatility,” dropping from 80% in 2020 to around 50% annualized volatility today.

How has the recent crash affected Strategy’s valuation?
Strategy’s mNAV (premium over BTC holdings) has slipped to 1.11x, down from 1.52x at Bitcoin’s all-time high.

How is Strategy positioned for a major crash?
Saylor claims the company is “engineered” to survive an “80 to 90% drawdown” due to its robust financial structure.