Bitcoin has fallen 15% over the past month, once dipping below $90,000. MicroStrategy (Strategy)'s stock price has plummeted 30% in a single month, sparking heated discussions in the market. Founder Michael Saylor emphasized that Bitcoin's fluctuation will gradually decrease as it matures, and the company can withstand a fall of 80% to 90%. However, well-known gold long positions Peter Schiff countered by saying, “MicroStrategy will ultimately go bankrupt.”
Saylor is not worried about Wall Street entering: Fluctuation is steadily declining.
Even though Bitcoin has retraced its accumulated gains since 2025 this week, Saylor still expressed an optimistic attitude in an interview with Fox Business.
He believes that the market generally misunderstands the pressure that Wall Street's entry is causing on Bitcoin; in fact, the volatility is steadily decreasing. He recalls that when the company first bought BTC in 2020, the annualized volatility of Bitcoin was about 80%, and it has now fallen to around 50%.
He anticipates that in the future, the volatility of Bitcoin will decrease by another five percentage points every few years, ultimately reaching a level of “1.5 times the volatility of the S&P 500 index, but with a 1.5 times return.” In other words, the entrance of institutional funds will not be a source of volatility, but rather a part of maturation.
(MicroStrategy significantly increased its investment in Bitcoin, holding nearly 650,000 BTC, with a target price of $585)
MicroStrategy mNAV fell, and the stock price was halved in a month. Saylor: Not afraid of a 90% fall.
As Bitcoin falls, MicroStrategy's holding strategy is once again under scrutiny.
SaylorTracker data shows that MicroStrategy currently holds approximately 64.9 Bitcoins, worth over 59.6 billion USD. The company's mNAV has fallen from about 1.52 times to 1.11 times since Bitcoin hit a historical high of 125,000 USD in October.
In terms of stock price, $MSTR has fallen 30% in the past month and 50% in the last six months. However, Saylor has not shown weakness due to the market pullback:
MicroStrategy is meticulously designed to continue operating even under a fall of 80% to 90%, and we can say it is almost indestructible.
He also added that the company's leverage ratio is gradually decreasing, and its capital structure remains very robust under pressure.
Archrival sings doom: Peter Schiff claims that the microstrategy will ultimately go bankrupt.
Saylor's optimistic remarks quickly attracted the sarcastic ridicule of old friend and gold bull Peter Schiff. He has always viewed Bitcoin as a bubble, and this time he criticized MicroStrategy as essentially a “fraud company.”
He stated that MicroStrategy's preferred stock yield will be difficult to sustain and predicted that the company will eventually go bankrupt:
I can't see how MicroStrategy is going to escape bankruptcy, those interest payments will not be made.
( Bitcoin will depreciate 40% against gold in 2025, economist Schiff: Sell Bitcoin! )
Data Defense: Schiff Criticizes Saylor for Selective Data Beautification of Performance
Schiff also pointed out the data cited by Saylor, criticizing Saylor's statement that Bitcoin has averaged a 50% increase over the past five years, with MicroStrategy even reaching 70%: “This calculation is significantly inflated by the extreme bull market of 2020, and is just a typical case of 'cherry-picking years to beautify performance.'”
He pointed out that the average annualized return rate of Bitcoin from 2020 to 2025 is indeed correct, but when expanded to 2021 to 2025, the annualized return of Bitcoin is actually less than 20%: “In the past year, Bitcoin has remained almost flat, while MSTR has dropped nearly 50%.”
Schiff believes that Saylor's avoidance of discussing the performance over the past year is a deliberate attempt to obscure risks, allowing investors to overlook MicroStrategy's capital structure.
Today, the confrontation between Saylor and Schiff symbolizes the market's inconsistent attitude towards Bitcoin at its current stage. It is foreseeable that these debates will continue endlessly.
In this article, Saylor is not afraid of a 90% fall in Bitcoin, “MicroStrategy is unbreakable,” Schiff is pessimistic: it will ultimately go bankrupt. First appeared on Chain News ABMedia.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
StarkWare researchers propose a QSB proposal, allowing Bitcoin to achieve post-quantum security without changing the protocol
StarkWare researchers proposed a quantum-safe Bitcoin scheme called QSB, aiming to replace the elliptic curve mechanism with hash assumptions to counter the threats posed by Shor’s algorithm. The scheme can run within existing scripts, requires no consensus changes, but does require submitting a transaction to a specific service.
GateNews32m ago
Morgan Stanley’s Bitcoin ETF had its first day of trading set a record for the firm, with more crypto products in the works
Gate News message, on April 10, the head of digital assets at Morgan Stanley said that the bank’s newly launched Bitcoin ETF (exchange-traded fund) delivered the best first-day trading performance among all the bank’s ETF products. In addition, the executive disclosed that Morgan Stanley is preparing additional crypto-related products.
GateNews36m ago
A giant whale opened a heavy short position on BTC last night and was liquidated in two rounds, with a total scale exceeding $43.3 million
On April 10, after BTC reached $72k, a whale starting with 0x2fc liquidated twice in a row at 40x leverage, totaling 423.4 BTC, or about $30.5 million. Due to a liquidation loss of $580k, the address opened a short position again and was liquidated again; it can currently support 67 short positions, with a liquidation price of $72,669.
GateNews44m ago
BTC 15-minute surge up 0.60%: whale transfers and ETF fund flows converge to drive a short-term rebound
2026-04-10 01:30 to 2026-04-10 01:45 (UTC), the BTC price rose from 71863.2 USDT to 72383.6 USDT. Within 15 minutes, the return was +0.60%, and the range reached 0.72%. During this period, market volatility was significant: spot buying orders on major exchanges were active in the short term, attention quickly heated up, and it showed a rapid price response driven by capital inflows.
The main driver behind this anomaly is that whale wallets, in early April, coordinated concentrated short-term transfers to trading platforms totaling 42,000 BTC, for this year’s
GateNews1h ago
The CIA plans to embed AI into all analytical platforms to assist with intelligence analysis and counterintelligence work
The U.S. CIA Deputy Director Michael Ellis said the CIA will incorporate AI into its analytical platforms over the next few years, but humans will still be the decision-makers. He mentioned a dispute with Anthropic and emphasized that competition between the U.S. and China in technology innovation is intensifying. AI and blockchain analytics will be key areas.
GateNews1h ago
Giant whale “sets 10 big targets first” — the BTC short position is currently down by $650k, and the ETH short position is currently up by more than $410k
A giant whale updated its position status. It currently holds 2,201.507 BTC short contracts, showing an unrealized loss of $650k; it also holds 7,093 ETH short contracts, showing an unrealized gain of $413k; the total value of its short contracts of $173 million currently has an estimated net unrealized loss of about $237k.
GateNews1h ago
