Michael Saylor has $9.9 BILLION in unrealized losses. And he’s still tweeting about “digital gold.”
Let that number sink in. Nine. Point. Nine. Billion. Dollars.
MSTR is down 74% year-to-date. The stock is trading at $102. Down from $400+. Down 293% in the past year.
And the response from Saylor? More tweets. More “Bitcoin is digital energy.” More “Never sell your Bitcoin.”
The Numbers
- Paper loss: $9,916,229,430.50
- Stock price: $102.18
- YTD change: ↓ 74.18%
- Past year: -293.49%
- BTC sold just to pay dividends: 3,588
This Is What Happens When You Build On Debt
Saylor spent years telling everyone that Bitcoin was the only asset that mattered. “Bitcoin is money. Everything else is credit.” He said it so many times it became gospel.
Meanwhile, the company’s entire structure was built on convertible notes, preferred shares, and debt engineering. The “infinite money glitch” that Bloomberg warned about in 2024? It glitched in the wrong direction.
When the premium NAV collapsed, the music stopped. No more accretive issuance. No more buying the dip. Just a $9.9 billion hole in the balance sheet and a CEO still posting meme charts on Sunday.
“Never Sell Your Bitcoin”
Saylor said “sell a tooth before selling the asset.” Then Strategy sold 3,588 BTC last week.
He said “Bitcoin is digital gold.” Meanwhile, MSTR has lost more value than most countries’ GDP.
He said the narrative was bulletproof. But narratives don’t pay dividends. Preferred note holders don’t care about digital gold metaphors. They want their yield.
The Lesson
The biggest corporate Bitcoin holder is bleeding. The stock is down 74% this year. Nearly $10 billion in paper losses. And the only response is more tweets.
If this doesn’t teach you to hold your own keys and ignore the influencers, nothing will.
Not your keys. Not your coins. Not even Saylor’s.
SAYLOR HAS $9.9 BILLION IN UNREALIZED LOSSES — AND HE'S STILL TWEETING
