Michael Saylor Better Hope Bitcoin Doesn't Rise Too Much
Strategy ($MSTR) is down roughly 80% and Wall Street seems to be burying Michael Saylor's company. But, like with everything, it's worth checking whether the numbers tell a different story. And that includes one of the strangest risks out there: the one that can go off if Saylor does too well.
In late May 2026, Strategy sold 32 bitcoins. For a company whose founding dogma was never sell, it was practically heresy. But look at the size: around 2.5 million dollars, at a price barely above its cost, 0.0038% of its treasury. Yes — not even 0.01%. An accounting entry that at any other company wouldn't have earned so much as a footnote. In the sessions that followed, the stock fell about 20%. That disproportion — an operationally irrelevant move read as a solvency event — is (maybe) the entire media story of Strategy right now.
A step back,...
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