Saylor Rejects Fund Label As Strategy, Bitcoin Volatility Face Fresh Scrutiny

Michael Saylor is pushing back after MSCI’s review put Strategy’s index status and Bitcoin-heavy balance sheet under the spotlight. At the same time, new comments on volatility and fresh chart signals around MSTR’s steep drop show how tightly the company’s stock now moves with Bitcoin’s long-term story.

Saylor Pushes Back After MSCI Scrutiny

Michael Saylor issued a direct response after MSCI proposed reclassifying Strategy as a fund-like vehicle due to its large Bitcoin holdings. He rejected the implication, saying Strategy operates as a full-scale software and structured-finance company rather than a passive holder of digital assets.

Saylor said Strategy is “not a fund, not a trust, and not a holding company,” noting the firm runs a $500 million software business while using Bitcoin as “productive capital.” He pointed to a series of offerings completed this year — STRK, STRF, STRD, STRC, and STRE — totaling more than $7.7 billion in notional value. He also highlighted Stretch (STRC), which he described as a Bitcoin-backed credit product that delivers variable monthly USD yield.

Strategy MSCI Index Response. Source: Michael Saylor on X

Moreover, Saylor argued that funds and trusts “passively hold assets,” while Strategy “creates, structures, issues, and operates.” He framed the business as a Bitcoin-backed structured-finance enterprise capable of issuing digital credit instruments at scale, adding that index classifications do not change the company’s mission.

Separately, Strategy reinforced its stance by referencing its actions during the 2022 market crash. In a post, the company said its average cost basis sat at $30,000 while Bitcoin fell near $16,000. Instead of reducing exposure, Strategy said it “bought more,” stressing its long-term position and consistent conviction in Bitcoin regardless of market conditions.

Saylor Calls Bitcoin Volatility “Satoshi’s Gift”

In a separate interview with CoinDesk, Saylor framed Bitcoin’s price swings as a feature rather than a flaw. He said long-term holders should treat volatility as “vitality,” arguing that investors need at least a four-year horizon, and ideally ten years, when they commit to the asset.

Saylor On Bitcoin Volatility. Source: CoinDesk

He drew a line between different types of exposure. If someone cannot think beyond a few years, Saylor said they should hold Bitcoin-linked credit products instead of the asset itself. Meanwhile, shareholders in Strategy’s “digital equity” also need that same four-to ten-year window because the company’s performance is tied to Bitcoin’s long-run path.

Saylor added that Bitcoin’s volatility creates room for specialists to add value. If the asset climbed steadily “2% a month forever,” he said, traditional institutions and veteran investors would dominate, leaving little opportunity for crypto-native analysts, journalists, and operators. He described sharp moves as “Satoshi’s gift to the faithful,” claiming the turbulence is what allows dedicated market participants to build careers and reputations around understanding Bitcoin.

Analyst Flags Possible MSTR Support Zone

Meanwhile, FinancialFreedom414 pointed to a potential stabilization area for Strategy’s stock after its steep weekly decline. Moreover, the analyst said the recent drop offers an “entry” for those who still trust the company’s long-term thesis, noting that the chart shows MSTR approaching a historical demand band.

MSTR Weekly Chart Analysis. Source: FinancialFreedom414 on X

The weekly TradingView chart shows the stock falling more than 14 percent, sliding toward levels last tested in early 2024. Bollinger Bands have widened as volatility expanded, while price now approaches the lower band near the $190 zone. That level previously acted as support during earlier corrections.

At the same time, momentum indicators continue to weaken. The Stoch RSI sits near oversold territory, signaling that bearish pressure remains strong but may be nearing exhaustion. The MACD has dipped further into negative territory, confirming the downtrend, yet the histogram shows signs of slowing momentum compared with previous weeks.

Furthermore, volume rose sharply during the latest selloff, suggesting capitulation pressure from short-term holders. If price stabilizes near this zone, the combination of oversold momentum and prior support could produce the “footing” the analyst referenced. However, the stock still trades well below its mid-2025 range, keeping the broader trend under continued stress.