You’re still not paying attention.
Michael Saylor spent years looking you dead in the eye and telling you to never sell. HODL forever. Sell your kidney, sell your car, sell your house, buy more Bitcoin. The man built a cult around the idea that Bitcoin only goes up and the only way to lose is to sell.
And then, over the weekend, his own company published a buyer’s guide that tells you the exact opposite.
Strategy — the company formerly known as MicroStrategy, the biggest corporate Bitcoin treasury on the planet — just released an official Bitcoin guide that devotes more space to losses, custody failures, and position sizing than to upside. The guide reminds every would-be buyer that Bitcoin has already crashed 93.1% once in its trading history. It points out the worst one-year return was minus 83.6%. Its point, the company writes, is not about direction. It’s about survival.
Let me translate that for you: the man who told you to never sell just published a document whose actual job is to scare you about losing 93 cents of every dollar.
THE ‘NEVER SELL’ PREACHER JUST WROTE THE OPPOSITE OF HIS OWN SERMON
Here’s what the guide actually says, in Strategy’s own words:
"An investor can be correct that Bitcoin appreciates and still lose money through leverage, option decay, an unfavorable capital structure, corporate risks, counterparty failure, excessive fees or forced liquidation."
Read that again. This is Saylor’s company admitting that you can be RIGHT about Bitcoin and still lose everything. That’s not a defense of Bitcoin. That’s a liability disclosure. That’s the fine print of a product that knows exactly how many ways it can hurt you.
And the mockery writes itself: Saylor’s own company is the living proof of every one of those risks. Saylor has watched a 62% single-day stock crash wreck his original company before — back in March 2000, after MicroStrategy restated three years of revenue, the stock collapsed from a $333 peak in one day. The SEC charged him with fraud. He paid $8.28 million in disgorgement and a $350,000 penalty. The man writing YOUR survival guide has a fraud settlement in his own rearview mirror.
THE $64 BILLION COIN FLIP: STRATEGY IS 2% ABOVE WATER AND IN THE RED ON ITS LAST BUY
Now the part that should really make you angry — the hypocrisy isn’t just in the words, it’s in the balance sheet. This is the same man who dumped 1,690 Bitcoin at an $11,000 loss per coin and whose comeback buying streak lasted exactly one week before he went quiet again.
Filings show Strategy holds 845,050 BTC at an average cost of $75,412 per coin. Today Bitcoin trades near $77,000. That’s not a war chest. That’s a company sitting barely 2% above water — and 38.8% below its October 2025 all-time high.
And the recent buys are already losing money. Strategy resumed buying on August 31 at an average of $80,318 per coin for 4,603 BTC. The resumption lasted exactly one week. One week later, Bitcoin was below their cost. Saylor’s own last trades are underwater while he publishes warnings about how deep this thing can fall.
But here’s the twist that makes this entire guide a joke: it doubles as a product menu. The buyer’s guide lists the common stock and the preferred stock of a Bitcoin treasury company as your investor options. That’s right — Saylor gets to warn you about a 93% crash AND sell you his own stock in the same document. His company states plainly that it profits from higher Bitcoin prices. So even as Michael Saylor is telling you to size your position for a 93% fall, his own company is sized for the exact opposite.
He’s hedged. You’re not.
THE REAL LESSON: THE ONLY BITCOIN WARNING YOU SHOULD EVER TRUST IS THE BLOCKCHAIN
Here’s the thing the guide gets right, even if Saylor doesn’t want you to notice: the reason you can lose money on Bitcoin is never Bitcoin. It’s the layers people build on top of it. Leverage. Options. Custody. Counterparties. Companies. Fees. Forced liquidation. Every single way to get wrecked is a middleman problem.
Bitcoin itself has no CEO, no stock to dilute, no preferred shares to pay dividends on, no leverage, no counterparty, no forced liquidation. The 93% crash happened, and Bitcoin still survived to make new highs — because the protocol doesn’t care about your panic. Saylor’s company, on the other hand, can restate revenue, get sued by the SEC, dilute you, and sit 38% below its all-time high while telling you to hold the line.
That’s the difference between holding the asset and holding the company’s promises. Saylor needs you to believe. Bitcoin doesn’t need you to believe anything. It just needs you to hold your own keys and stay off the leverage.
So here’s the question Saylor’s own guide should make you ask, right now, before you buy another share of his stock or another satoshi of the coin he warns can crash 93%:
If the man who told you to never sell is publishing a document that tells you to prepare for a 93% wipeout — what does HE know that he’s not telling you? And if a 93% crash really is on the table, why is the answer to buy his company instead of owning your own Bitcoin?
Think about it. Then take custody of your coins, and grab the best price on Bitcoin hardware with coupon LOVEISBITCOIN at LoveIsBitcoin.com/Bull.
SAYLOR TOLD YOU TO NEVER SELL. HIS OWN COMPANY JUST PUBLISHED A 93% CRASH WARNING — WHILE SITTING 2% ABOVE WATER ON 845,050 BTC
