Michael Saylor’s bitcoin stack is officially underwater, but here’s why he likely won't reach for the panic button

Michael Saylor’s substantial holdings in Bitcoin have officially entered a territory where their value has decreased below what he initially paid for them, leading to what is commonly referred to as being "underwater" on his investment. However, despite this concerning position, there are several compelling reasons to believe that he is unlikely to succumb to panic or make hasty decisions. Saylor has consistently expressed a strong, long-term bullish outlook on Bitcoin, viewing it not merely as a short-term asset but as a revolutionary store of value comparable to digital gold. Additionally, his unwavering conviction in Bitcoin's potential to raise in value over time, combined with his deep understanding of the cryptocurrency market, suggests that he is more likely to maintain his position and continue to advocate for Bitcoin rather than react impulsively in the face of temporary market fluctuations. Furthermore, his long-term investment strategy, coupled with the ongoing developments in the cryptocurrency ecosystem, provides him with the confidence to endure these market challenges without hitting the metaphorical panic button. source: https://www.coindesk.com/business/2026/01/31/michael-saylor-s-bitcoin-stack-is-officially-underwater-but-here-s-why-he-likely-won-t-reach-for-the-panic-button