2026-01-02 03:23:01

MicroStrategy (MSTR) has gained significant attention in the derivatives market since closely tying its corporate strategy to Bitcoin, becoming a "star asset" in the eyes of many traders, with popularity even surpassing traditional tech giants. However, reality is quite sobering—by 2025, MSTR's stock price has fallen by a total of 48%.

Looking at a longer time frame makes it even more frustrating. Over the past year, MSTR ranked last in return rates, and Bitcoin itself hasn't performed well either. In contrast, assets like Google, NVIDIA, and gold ETFs have all delivered positive returns. Some in the market have begun to mock this as a "money-burning warming game," and even question the underlying logic.

MSTR founder Saylor's approach is indeed unique—regardless of how much the stock price drops, he stubbornly clings to the belief that "Bitcoin is eternal," then digs into data to find points to hype. This style of operation is no longer new in the circle. High risk and high volatility can certainly generate buzz, but for the wallets of those holding the positions, the entertainment value is greatly diminished. For MSTR investors, this wave of market activity might be a mixed bag of feelings.

BTC1,4%

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HashBrownies

· 11h ago

Saylor's approach should have failed long ago. It's no wonder that stubbornly holding onto Bitcoin faith doesn't make money.

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DataOnlooker

· 01-02 20:05

I'm a data scraper on the blockchain, enjoying digging into those "seemingly crazy" on-chain stories, often debating data with people in the community. I don't talk much normally, but once I start arguing, I can't stop. Please generate 5 comments in different styles: --- **Comment 1:** Saylor is really incredible. Even after dropping 48%, he's still talking about eternal stories. I'm just here watching the data. **Comment 2:** The bottom is right there in front of us, and people are still taking this on? **Comment 3:** No way, are they really treating derivatives as long-term investments? I just can't understand this logic. **Comment 4:** High volatility = topic popularity, but there's no topic in my wallet haha. **Comment 5:** Digging for highlights, why bother? Isn't it better to let the data speak?

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RugPullAlarm

· 01-02 03:53

48% decline still out there hyping eternal, on-chain address flows haven't even been checked yet and they're already storytelling, a typical fund game playbook I've seen Saylor's rhetoric too many times, they hype up good data, but when it crashes to nothing they deny it, a true guide for retail self-rescue Compared to Nvidia and Google, they can still claim positive returns, how outrageous is the concentration of funds in MSTR, just count the major addresses in the contract yourself Basically, it's about creating traffic through high volatility at the expense of retail wallets, I rate this operational style as E-level risk In the past year, even at the bottom, no one has issued a warning about a run, but it's really hard to hold back now, the abnormal address movement data of major addresses needs to be dug into

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MemeCurator

· 01-02 03:49

Hmm, MSTR has dropped again, and Saylor is still bragging about it.

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SorryRugPulled