Bitcoin Volatility Still Declining, Says Michael Saylor
Strategy executive chairman Michael Saylor says Bitcoin is becoming less volatile over time—despite the market’s sharp pullback this week. His comments push back on the growing narrative that Wall Street’s influence is amplifying Bitcoin’s price swings.
Speaking to Fox Business, Saylor said Bitcoin’s recent dip hasn’t changed his long-term view on the asset. “I think we are getting a lot less volatility,” he noted when asked if institutional capital made Bitcoin more unstable.
Bitcoin Price Drops but Long-Term Trend Remains Intact
Bitcoin has fallen nearly 12% over the past week, slipping to $91,616 and giving back its 2025 gains, according to CoinMarketCap. Still, Saylor emphasized that the broader trend remains positive.
When Strategy began accumulating Bitcoin in 2020, Saylor said annualized volatility hovered around 80%. Today, it sits closer to 50%. As Bitcoin matures, he expects volatility to drop by around five percentage points every few years, eventually approaching a level only “1.5 times more volatile—and 1.5 times better performing—than the S&P 500.”
Strategy’s mNAV Slides as BTC Corrects
Despite the market pullback, Saylor maintains Bitcoin’s strength. “Bitcoin is stronger than ever,” he said.
Strategy currently holds 649,870 BTC, valued at $59.59 billion, according to SaylorTracker. However, the company’s mNAV multiple has declined to 1.11x, down from 1.52x when Bitcoin hit its all-time high of $125,100 on Oct. 5.
MSTR stock has also followed Bitcoin’s downturn. Shares closed Tuesday at $206.80, down 11.50% over the past five days, according to Google Finance.
No Fear of a Major Bitcoin Downturn
Even with the recent correction, Saylor insists he is not concerned about a deeper Bitcoin crash.
“The company is engineered to take an 80 to 90% drawdown and keep on ticking,” he said, calling Strategy’s position “pretty indestructible.” He added that the firm’s leverage is currently “extremely robust.”
Analysts Split: Brandt Warns of Risk Ahead
Not everyone shares Saylor’s optimism. Veteran trader Peter Brandt cautioned that Strategy (formerly MicroStrategy) could end up “underwater” if Bitcoin follows a long-term pattern similar to the 1970s soybean bubble—a scenario he believes is still possible based on BTC chart structure.
