MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’

[Xackie]

What does Michael Saylor mean by saying he won't be more enthusiastic than this?

https://x.com/i/status/2024478354301231458

When big whales like Michael Saylor say that  he has never been more bullish on Bitcoin, this should tell us that he likely believes that strong fundamentals are building behind Bitcoin. Maybe the sellers are already getting tired , so it's time for the buyers to step in and drive the price upwards. But it might not happen in an instant but gradually. Or Maybe he sees big adoption coming, more institutions buying, or positive regulations ahead. It's also important to know that leaders like him speak from conviction and large exposure so we the investors should also think for ourselves, know how manage risk and don't rush in blindly because someone feels confident.

[Free Market Capitalist]

When big whales like Michael Saylor say that  he has never been more bullish on Bitcoin...

He is simply lying. He is not more bullish now that in November 2024. Any sensible person who knows about the subject knows this.

What he is doing is the same as always: trying to convince the masses with his message, which all of us who have Bitcoin would benefit from them believing, but when he says that, he is lying to our faces.

[Donneski]

He is simply lying. He is not more bullish now that in November 2024.

Well, instead of tagging it a "lie" I'll say it's more of a marketing strategy than a genuine change in outlook from him. Saylor has been consistently bullish for years, so statements like this feel more like narrative management than new information.

Any sensible person who knows about the subject knows this.

To a large a extent, I agree with you. Long-term followers know Saylor's playbook by now. He frames every cycle as validation, regardless of price action or leverage risk. Should we say it's a mind game that's been working for him... maybe for us Bitcoiners over the cycles?

What he is doing is the same as always: trying to convince the masses with his message...

That’s definitely the real objective. The more people buy into the narrative, the easier it is to sustain the capital flows that keep the strategy viable. It’s not necessarily malicious but it’s definitely self-serving.

[JayJuanGee]

When big whales like Michael Saylor say that  he has never been more bullish on Bitcoin...

He is simply lying. He is not more bullish now that in November 2024. Any sensible person who knows about the subject knows this.

What he is doing is the same as always: trying to convince the masses with his message, which all of us who have Bitcoin would benefit from them believing, but when he says that, he is lying to our faces.

It is sad when the marketing guys end up losing any reasonable semblance of objectivity, which becomes a further problem when their products have been designed around up only...and anticipations of UP only... which might end up being correct in the longer term, yet there should be more honest ways to appreciate the corrections.

He is simply lying. He is not more bullish now that in November 2024.

Well, instead of tagging it a "lie" I'll say it's more of a marketing strategy than a genuine change in outlook from him. Saylor has been consistently bullish for years, so statements like this feel more like narrative management than new information.

Any sensible person who knows about the subject knows this.

To a large a extent, I agree with you. Long-term followers know Saylor's playbook by now. He frames every cycle as validation, regardless of price action or leverage risk. Should we say it's a mind game that's been working for him... maybe for us Bitcoiners over the cycles?

What he is doing is the same as always: trying to convince the masses with his message...

That’s definitely the real objective. The more people buy into the narrative, the easier it is to sustain the capital flows that keep the strategy viable. It’s not necessarily malicious but it’s definitely self-serving.

I recall that Saylor was not exaggerating so much during the 2022 correction period... so maybe some of his products have trapped him into having spin more than previously.

[Free Market Capitalist]

I recall that Saylor was not exaggerating so much during the 2022 correction period... so maybe some of his products have trapped him into having spin more than previously.

Probably. If 2025 had gone as we all expected, the story would have been very different. I think the lowest ATH prediction for 2025 was $200K, and there were much higher ones, talking about supercycles and such.

But if you base your model on a CAGR for Bitcoin of 30%, which in the early years would be closer to 50% and just in the first year of your prediction when the price would have to be more bullish, reality slaps you in the face, you only have two alternatives: reformulate the model or fly forward.

It is clear that running forward is the chosen option.

Saylor has sought to base the model on access to liquidity similar to that used by large fortunes, and he himself has given this example on occasion.

A large fortune rarely sells assets, but borrows against them to obtain liquidity, and continues to refinance throughout its lifetime. The difference is that these large fortunes do so with a very low debt-to-equity ratio. They may have $50 million in assets and only borrow $1 million, having to pledge $2 million of the $50 million they have. If the asset continues to rise, they refinance upwards, and in years when the market falls, they can pledge more assets.

The problem is that Strategy is nowhere near that. It has, rounding up, about $50 billion in Bitcoin for an enterprise value of $60 billion. That's only 20% more. If the price of Bitcoin had reached $400,000 in 2025 and we now had a mild drop below that price, things would be different, but we have to adapt to events as they happen.

[Xackie]

What he is doing is the same as always: trying to convince the masses with his message, which all of us who have Bitcoin would benefit from them believing, but when he says that, he is lying to our faces.

You right, I recently got to know Michael saylor and whenever I see his post he is always positive about Bitcoin. Most of these so called whales don't give honest talks. It's true many people will surely believe especially those one who doesn't really have idea about Bitcoin.

[The Sceptical Chymist]

He is simply lying. He is not more bullish now that in November 2024. Any sensible person who knows about the subject knows this.

It's refreshing to see some skepticism (or at least more of it) as regards Saylor and his buy BTC-then-make-bullish-proclamations pattern.  And I just have to wonder about this:



Why is everything in caps?  Why is Michael Saylor shown with what looks to be a halo around his head of the type you see in ancient religious icons?  Why is he depicted as having what looks like lightning emanating from his eyes such that the picture would seem more appropriate for a poster for some Marvel movie?

I'm genuinely curious.  I'm also wondering if the time ever comes when he decides to, or is forced to, sell bitcoin if we'll start seeing pictures of him with dicks drawn on his forehead and such.  The internet is such a temperamental gathering of goons, don't you know.

[Donneski]

Why is everything in caps?  Why is Michael Saylor shown with what looks to be a halo around his head of the type you see in ancient religious icons?  Why is he depicted as having what looks like lightning emanating from his eyes...

Let's call it meme-ification. Turning him into a semi-mythical figure reinforces the cult-of-personality narrative around Bitcoin adoption. It sells confidence not analysis.

I'm genuinely curious.

I think a lot of people are also curious just like you. Saylor has become less of a CEO and more of a Bitcoin archetype which makes every statement feel performative. He’s effectively turned himself into part of the narrative layer.

I'm also wondering if the time ever comes when he decides to, or is forced to, sell bitcoin...

That would be the real stress test. His credibility is built on “never selling" so if he sells, that would probably rewrite the narrative overnight. It wouldn’t matter why he sold, markets and social media would frame it as capitulation..

[Free Market Capitalist]

Why is everything in caps?  Why is Michael Saylor shown with what looks to be a halo around his head of the type you see in ancient religious icons?  Why is he depicted as having what looks like lightning emanating from his eyes such that the picture would seem more appropriate for a poster for some Marvel movie?

Basically, whoever posts that has faith in Saylor. He doesn't have a rational understanding of how Saylor has built his company.

Look, they interview Saylor a lot, and I still haven't seen anyone ask him a basic question about a simple mathematical issue that dismantles his system. How do you expect Strategy to work based on an annual Bitcoin CAGR of 30% if it has been proven that with the purchases you make (a lot when the price breaks highs, little when it drops), the CAGR you get is significantly lower? At present, Bitcoin's CAGR since August 2020 is 35%, slightly above what your model predicts, while the return you have obtained on the Bitcoin you purchased is -10%.

There are other rational questions that could be asked, but that is the main one.

[MarryWithBTC]

Basically, whoever posts that has faith in Saylor. He doesn't have a rational understanding of how Saylor has built his company.

Look, they interview Saylor a lot, and I still haven't seen anyone ask him a basic question about a simple mathematical issue that dismantles his system. How do you expect Strategy to work based on an annual Bitcoin CAGR of 30% if it has been proven that with the purchases you make (a lot when the price breaks highs, little when it drops), the CAGR you get is significantly lower? At present, Bitcoin's CAGR since August 2020 is 35%, slightly above what your model predicts, while the return you have obtained on the Bitcoin you purchased is -10%.

There are other rational questions that could be asked, but that is the main one.

Don't forget that too often, the conversation is about Saylor’s bold moves or the “ Bitcoin hero” narrative. It is not about how the strategy actually performs under real-world math. The admiration for headline moves often replace looking at the numbers.
Many people treat Saylor's bitcoin strategy as a magic, so they forget that there are undeniable real constraints.

I don't think that anyone is ready for the rational scrutiny you are clamoring for.

Why is everything in caps?  Why is Michael Saylor shown with what looks to be a halo around his head of the type you see in ancient religious icons?  Why is he depicted as having what looks like lightning emanating from his eyes such that the picture would seem more appropriate for a poster for some Marvel movie?

They are turning Saylor into the undefeated hero of the Bitcoin blockbuster. It’s like watching an action movie poster instead of a CEO report on treasury. Relax let's keep watching this movie

 

[Ambatman]

It is not about how the strategy actually performs under real-world math. The admiration for headline moves often replace looking at the numbers.
Many people treat Saylor's bitcoin strategy as a magic, so they forget that there are undeniable real constraints.

They are looking for things that would make headline
Been rational to many isn't interesting
They would rather clamour to news like Bullish
ATH in the next two minutes? Trump to name  Dollar Bitcoin (fake news but at least you understand what I mean)

He is simply lying. He is not more bullish now that in November 2024. Any sensible person who knows about the subject knows this.

I always find it hard to take the words of an individual who only talks about Bitcoin price serious
Never wanting to acknowledge that Bitcoin rising higher isn't set in stone.
Never sell your Bitcoin that he says always get on my nerve
Like Bitcoin is meant to be held forever barely acknowledging it as a medium of exchange (not the best but that's what it is first)

[SilverCryptoBullet]

He is simply lying. He is not more bullish now that in November 2024. Any sensible person who knows about the subject knows this.

Why is everything in caps?  Why is Michael Saylor shown with what looks to be a halo around his head of the type you see in ancient religious icons?  Why is he depicted as having what looks like lightning emanating from his eyes such that the picture would seem more appropriate for a poster for some Marvel movie?

I'm genuinely curious.  I'm also wondering if the time ever comes when he decides to, or is forced to, sell bitcoin if we'll start seeing pictures of him with dicks drawn on his forehead and such.  The internet is such a temperamental gathering of goons, don't you know.

Michael Saylor does not know everything, and he does not know everything about the future exclusively Bitcoin future.

Base on his actions and Strategy's investment actions, we can see that they are both very bullish and optimistic about Bitcoin future while they forgot about risk of over leveraging. I believe that they all knew about this risk, but they ignored it as consequence and effect from over confidence about Bitcoin future that in their view, will be only bullish and upwards. As an observer, I have more neutral view than Saylor and Strategy, and I am curious that what will happen with this company when things go too bad with this market.

[Free Market Capitalist]

Michael Saylor does not know everything, and he does not know everything about the future exclusively Bitcoin future.

However, he does speak as if he knows everything. The only thing I've seen him say he doesn't know is how to predict the price in the short term; otherwise, he does speak as if he knows everything about Bitcoin.

Has no one commented on yesterday's purchase announcement?



I suppose because it's not a very bullish purchase.

If anyone is interested, you can watch the two-hour massage interview:

Michael Saylor Takes Down Every Argument Against Bitcoin

I'll pass because we're off to a bad start with just the title. What he should be doing is answering questions about his company, not about Bitcoin, especially why he has a -10% return on Bitcoin when the CAGR is 35%, a CAGR very close to the one on which he bases his model.

[KawasakiNinja1_]

Wow, It's really great that Michael Saylor's strategy has turned a century in Bitcoin buying.In fact, this company purchased Bitcoin a total of 100 times from 2020 to February 2026,This is undoubtedly their high-level progress.

However, there are probably very few companies that have continued to purchase Bitcoin gradually following the rules of the strategy and have been able to pass the 100-time purchase,they last acquired 592 Bitcoin yesterday.

Here is their total BTC purchase list;




https://bitcointreasuries.net/public-companies/microstrategy

[coinrifft]

I've found a old interview of a young Michael Saylor talking about banks and trust. And it's basically what he has been doing to acquire massive Bitcoin(Convertible notes/debt).

You can fast forward to 13:08.

[Taskford]

I've found a old interview of a young Michael Saylor talking about banks and trust. And it's basically what he has been doing to acquire massive Bitcoin(Convertible notes/debt).

You can fast forward to 13:08.

They share similarities with action done but bank focus on diversification investing on many asset, while what Saylor did is focusing only on Bitcoin.

But its really great to see that even before Saylor shows promising investment career and vision. Now we have seen the good result of his experience and dedication to invest on what they called risky asset like Bitcoin.

Those are the reasons why I'm not surprised to see him became more successful, because he have iron balls and have good visions for future success on each actions also decision done.

[fillippone]

He has a -10% return on Bitcoin when the CAGR is 35%, a CAGR very close to the one on which he bases his model.

We all knew that an mNAV of 2.5 wasn’t sustainable. I personally bet against that, but I was damn wrong. Idea was right, timing was wrong. I was then wrong and I had to close that trade.
Now mNAV at 1.2sh seems more reasonable, when coupled with a positive BTC yield.
Reasonable doesn’t mean you are going to make money buying Strategy shares.

[Free Market Capitalist]

Now mNAV at 1.2sh seems more reasonable, when coupled with a positive BTC yield.
Reasonable doesn’t mean you are going to make money buying Strategy shares.

If somebody buys now he will "only" have to wait until Strategy buys 143.544 BTC more to be equal in terms of BTC exposure as if he had just bought Bitcoin and also hope that the mNAV and the share price continue to move accordingly.

[As-Soon-As]

The ghost of the iPhone: Why Michael Saylor thinks bitcoin is mirroring Apple’s legendary ‘valley of despair’
Michael Saylor compared bitcoin’s 45% drawdown to Apple’s 2013 slump, arguing that enduring deep corrections is part of every successful technology investment.

Michael Saylor compared bitcoin’s 45% drawdown to Apple’s 2013 slump, arguing that enduring deep corrections is part of every successful technology investment.
Saylor said structural shifts in derivatives markets and limited bank credit are reshaping this cycle and compressing volatility.
Saylor dismissed quantum computing and renewed Epstein related scrutiny of developers as recurring fear narratives
Source Link

You can see how confident Michael Saylor is in holding Bitcoin here, comparing the current Bitcoin market decline to the iPhone market decline, and Michael Saylor is confident in his Bitcoin holdings at MSTR. And he is ready to buy more Bitcoin during the correction, because holding Bitcoin during these weak moments is the biggest sign of success later.

[MarryWithBTC]

Saylor dismissed quantum computing and renewed Epstein related scrutiny of developers as recurring fear narratives

Like saylor dismissed quantum computing risk? Well, an adamant investor will treat quantum computer risk as a FUD. I will like to know what some technical users of this forum have to say about this. I am definitely raising a topic for this.