Michael Saylor Discusses Bitcoin Volatility Amid Wall Street's Influence
According to Cointelegraph, Strategy executive chairman Michael Saylor has dismissed concerns that Wall Street's involvement in Bitcoin has significantly impacted its price action and volatility. During an interview with Fox Business, Saylor expressed confidence in Bitcoin's stability, stating, "I think we are getting a lot less volatility." This comes as Bitcoin (BTC) has experienced a nearly 12% decline over the past week, dropping to $91,616 and erasing its gains for 2025, as reported by CoinMarketCap.
Saylor highlighted that when he began acquiring Bitcoin for Strategy in 2020, the cryptocurrency exhibited an annualized volatility of approximately 80%. Since then, this volatility has decreased to around 50%. He anticipates that Bitcoin's volatility will continue to diminish by about 5 points every few years as the asset matures, eventually becoming 1.5 times as volatile as the S&P 500 Index while also outperforming it by the same margin. Despite the recent price fluctuations, Saylor emphasized Bitcoin's resilience, noting that Strategy holds 649,870 Bitcoin, valued at $59.59 billion at the time of publication, according to SaylorTracker.
The firm's mNAV multiple has decreased to 1.11x, down from approximately 1.52x when Bitcoin reached its all-time high of $125,100 on October 5. Shares in Strategy (MSTR) often trade at a premium or discount relative to Bitcoin's price. Following Bitcoin's recent price decline, MSTR closed the trading day on Tuesday at $206.80, marking an 11.50% decrease over the past five days, according to Google Finance.
Despite the downturn, Saylor remains unfazed by the possibility of a more significant Bitcoin decline. He stated, "The company is engineered to take an 80 to 90% drawdown and keep on ticking," adding, "So I think we're pretty indestructible." He further explained that the company's leverage is currently at a robust level, with the 10 to 15% range approaching zero. However, veteran trader Peter Brandt cautioned that Strategy could face challenges if his prediction of Bitcoin's chart following the soybean bubble scenario from the 1970s proves accurate.