'Built for This': Michael Saylor Denies Panic Amid Bitcoin's Price Roller Coaster

Michael Saylor is showing no concern as Bitcoin goes through another roller coaster stretch of price action. Amid sudden and abrupt swings that many traders dub a “Bart” — based on the hairline of the famous Simpsons character — the Strategy chairman summed up his view with a short message that he was “built for this.”

Looking at the Bitcoin price chart, it becomes clear why Saylor chose a roller coaster to depict in his latest post. After failing to stay above the $90,000 zone, the price dropped into the high $80,000s, but then it began showing repeated sell-offs followed by quick rebounds, a pattern that has punished leverage and kept direction unclear.

Where does Strategy sit there?

What Saylor meant by “built for this” may be a hint that Strategy’s exposure is not built around short-term price comfort. The company holds 671,268 BTC, acquired at an average price of about $74,978 per coin.

Even after the recent drop, that position remains up about 16.65%. At current prices, Strategy’s Bitcoin holdings are valued at about $58.7 billion.

Those holdings dominate the company’s valuation. Strategy’s enterprise value is near $61 billion, meaning the market is pricing the firm almost directly off its Bitcoin stack. Its mNAV metrics show the stock trading close to the value of its underlying BTC, leaving limited excess optimism to unwind during pullbacks.

There is no leverage unwind at the corporate level, no need to protect a premium and no pressure to adjust exposure based on short-term market stress.

Yes, Bitcoin is volatile by design, but according to Saylor, Strategy’s position assumes that reality. From that perspective, a nervous market is not a problem. It is part of trading.