The Saylor Warning: A House of Cards? đâ ïž
âListen closely.
âMichael Saylor has poured nearly $55 billion into Bitcoin over the last five years, but the tide is starting to turn. As of today, February 2, 2026, his holdings are officially underwater.
âWith Bitcoin dipping below his average purchase price of $76,052, the "digital gold" narrative is facing its toughest reality check yet. When you adjust for the cumulative inflation of the last half-decade, his real-term losses are estimated to be staggeringâpotentially north of $10 billion.
âWhy this is a "fragility" alert:
âLeveraged Risk: A massive portion of these 713,500 BTC was bought using billions in convertible debt and high-interest preferred stock.
âThe Debt Trap: Unlike a retail "HODLer," Saylor has lenders to answer to. If Bitcoin doesn't reclaim $80k soon, the cost of servicing that debt becomes a black hole.
âCentralization Threat: One man controlling 3.4% of the total supply creates a "single point of failure." If he is ever forced to liquidate, the market won't just dipâit will crater.
âI warned about this concentration of risk over a month ago. Leverage builds empires, but it also burns them down when the cycle turns.
âI am sitting on the sidelines for now. Iâll keep you updated as we watch the 2027 debt maturities approach. When I see a true bottom and start buying again, youâll be the first to knowâpublicly.
âIgnore the warnings at your own peril.