Strategy (NASDAQ:MSTR) executive chairman Michael Saylor on Tuesday said the company won’t sell Bitcoin (CRYPTO: BTC) even if it crashes to $8,000, pledging to refinance debt instead.
The $8,000 Refinancing Pledge
Saylor told CNBC the company has 2.5 years of cash to cover dividends and debt without raising money.
When pressed on what happens if Bitcoin falls 90% and stays there for four years, Saylor said “we’ll refinance the debt.”
On credit risk concerns, Saylor dismissed worries about forced selling.
“If Bitcoin falls to $8,000, we’ll just refinance the debt. If you think it’s going to zero, we’ll deal with that. But I don’t think it’s going to $8,000,” he said.
Saylor argued Strategy’s net leverage ratio is half the typical investment-grade company. “We’ve got 50 years worth of dividends in Bitcoin. We’ve got 2.5 years worth of dividends just in cash on our balance sheet.”
“I expect we’ll be buying Bitcoin every quarter forever,” Saylor said. Strategy added $90 million worth to its stockpile recently despite Bitcoin’s volatility.
The Volatility Feature
Saylor framed Strategy’s 60% stock decline as intentional design rather than failure.
The company engineered MSTR to amplify Bitcoin’s moves—rising faster during rallies and falling harder during crashes.
He described creating an asset with 80 volatility, meaning extreme price swings in both directions.
On Bitcoin itself, Saylor argued digital assets run 2-4 times more volatile than traditional assets like gold, stocks, or real estate.
However, this volatility comes with a tradeoff—Bitcoin also delivers 2-4 times the performance over the decade compared to those same traditional assets.
Additionally, Saylor highlighted STRC preferred stock as “the most popular credit instrument of the decade,” trading 100 times as much as traditional preferred stocks and generating 2-4 times the cash flow of other fixed income instruments.
MSTR Price Update
MSTR is in extremely oversold territory after collapsing from highs near $470.
All EMA’s sit above price: 20 EMA at $146, 50 EMA at $169, 100 EMA at $209, and 200 EMA at $250.
Critical support sits at $110-$115, where recent selling found buyers. Breaking below exposes the psychological $100 level.
For a reversal, MSTR needs to reclaim $150-$155 and close above the 20 EMA.
The descending trendline from the peak acts as resistance. Rallies face selling pressure near $150-$170 until the stock breaks this structure.
Image: Shutterstock
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