In a recent CNBC interview, Michael Saylor stated that even if Bitcoin were to fall 80 to 90 percent, MicroStrategy would “still be fine” and continue operating normally.
His confidence stems from a strategy that effectively blends traditional finance structures with a long-term outlook on digital assets.
A Strategy Modeled After a Modern Bank
Saylor elaborated that MicroStrategy employs an approach similar to that of a well-managed bank. Rather than relying exclusively on common stock or conventional debt, the company issues preferred equity. Preferred equity represents a form of investment that is positioned between debt and common shares. It offers dividends, but these dividends are not fixed like interest payments on a loan; they are declared by the board when deemed appropriate. Because there is no mandatory coupon payment and no maturity date, the company is protected from defaulting on this financial structure.
This approach provides MicroStrategy with greater flexibility during periods of market volatility. When Bitcoin’s price experiences a decline, the company is not compelled to meet stringent debt obligations. Conversely, when the price increases, common shareholders still stand to benefit from the upward movement. This structure is designed to absorb market shocks, much like a bank that utilizes diverse capital sources to safeguard itself during economic downturns.
A practical illustration of this resilience can be observed in how banks navigated the sharp market fluctuations of early 2020. Institutions with well-balanced capital structures demonstrated quicker recovery and continued lending operations, whereas those burdened by significant short-term debt faced considerable pressure. MicroStrategy is adopting a comparable strategy with Bitcoin at its core.
MicroStrategy's Bitcoin Holdings and Performance
On November 17th, MicroStrategy acquired an additional 8,178 BTC for approximately $835.6 million, at an average price of around $102,171 per Bitcoin. This recent acquisition contributed to a year-to-date Bitcoin yield of 27.8 percent for 2025.
MicroStrategy has acquired 8,178 BTC for ~$835.6 million at ~$102,171 per bitcoin and has achieved BTC Yield of 27.8% YTD 2025. As of 11/16/2025, we hodl 649,870 $BTC acquired for ~$48.37 billion at ~$74,433 per bitcoin. $MSTR$STRC$STRK$STRF$STRD$STREhttps://t.co/72HMHUH2fa
— MicroStrategy (@MicroStrategy) November 17, 2025
As of November 16th, 2025, the company’s total Bitcoin holdings amount to 649,870 BTC, which were acquired for approximately $48.37 billion, at an average cost of $74,433 per Bitcoin. This figure underscores MicroStrategy's sustained accumulation strategy and its ongoing conviction in the long-term potential of Bitcoin.