Emre Yumlu 
Recent volatility in the Bitcoin market has revived an ongoing debate: Is Wall Street’s growing involvement harming the world’s largest digital asset? MicroStrategy Executive Chairman Michael Saylor disagrees. In a recent interview with Fox Business, Saylor argued that Bitcoin’s price movements reflect the natural maturation of a global asset, not external distortions from traditional finance.
Saylor: “Bitcoin’s Volatility Is Declining Over Time”
Bitcoin has fallen roughly 12% over the past week, erasing its gains for 2025. According to CoinMarketCap data, the price has slipped to around $91,363, prompting concerns among investors. Saylor, however, sees the pullback as part of a long-term trend in which volatility consistently decreases.
He recalled that when MicroStrategy first began accumulating Bitcoin in 2020, the asset’s annualized volatility hovered near 80%. Over time, this figure has fallen toward the 50% range. Saylor expects this trajectory to continue, estimating that Bitcoin will eventually settle at a volatility level about 1.5 times that of the S&P 500—while still delivering stronger performance.
MicroStrategy Faces Pressure Despite Growing BTC Holdings
Despite the recent market turbulence, Saylor maintains that “Bitcoin is stronger than ever.” Data from SaylorTracker shows that MicroStrategy now holds 649,870 BTC, valued at approximately $59.6 billion.
Yet the company’s valuation metrics have come under pressure. MicroStrategy’s market-adjusted net asset value (mNAV) ratio, which was around 1.52x when Bitcoin reached an all-time high of $125,100 on October 5, has fallen to about 1.11x. Its stock price has also felt the impact: MSTR shares have declined 11.5% over the past five days, closing at $206.80.
Built to Withstand Major Downturns
Saylor insists that even in the event of a deeper correction, MicroStrategy’s strategy remains resilient. He claims the company is structured to endure drawdowns of 80–90%, making it, in his words, “nearly indestructible.”
Not everyone shares this confidence. Veteran trader Peter Brandt has compared Bitcoin’s long-term chart structure to the soybean bubble of the 1970s, warning that such a scenario could leave MicroStrategy “underwater.”
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