🧵 Michael Saylor’s Strategy: Built to Survive $8K Bitcoin? Michael Saylor says MicroStrategy (“Strategy”) could withstand a BTC crash to $8,000 and still fully cover its debt. Here’s what that means 👇 • They hold massive Bitcoin reserves • Much of their debt is long-dated convertibles • Assets (BTC + software biz + cash) > total debt • No immediate insolvency risk even in extreme drawdown ⚠️ BUT: Survive ≠ thrive. At $8K BTC: • Stock volatility would be extreme • Equity dilution risk rises • Shareholders still feel the pain 🎯 Bottom line: Strategy isn’t betting on short-term BTC moves — it’s structured to endure deep crashes while waiting for long-term upside. High conviction. High volatility.