Michael Saylor Says $1 BTC Price Wouldn’t Liquidate MicroStrategy — Just Make Them Buy More ⋆ ZyCrypto

Bitcoin’s rally to fresh records this month has revived a familiar refrain from Michael Saylor: even an extreme downside move wouldn’t force his company out of its core trade.

In recent interviews and coverage, Michael Saylor says that Bitcoin could go to $1 and MicroStrategy would not get liquidated, “buy all the Bitcoin.”

Saylor’s assertion — “If Bitcoin dropped to $1, we’d buy it all”,  framed as a response to recurring questions about forced selling or lender-driven liquidation at MicroStrategy.

The company has repeatedly emphasized that most of its liabilities are convertible debt and preferred stock, not collateralized loans that could trigger automatic liquidations if Bitcoin falls. That capital mix helps explain Saylor’s confidence in avoiding margin calls tied to BTC prices.

The company continues to trade on Nasdaq under MSTR and related tickers. Strategy identifies itself as the “world’s first Bitcoin Treasury Company,” reflecting a balance sheet dominated by BTC.

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How Much Bitcoin They Hold — and at What Cost

As of August 2025, Strategy reports $628,946 held on its balance sheet, with a stated average purchase price of $66,384.56 per BTC.

The company’s dashboard and independent trackers align on the headline holdings figure. Recent filings and coverage also note incremental purchases, including 155 BTC bought in early August for $18 million at an average price of $116,401 per coin.

Strategy’s liabilities are dominated by convertible notes and preferred stock, instruments that do not function like price-sensitive margin loans against Bitcoin.

Coverage this year summarized Saylor’s position that a forced liquidation would be unlikely given this structure; the firm could also pursue additional financings if needed, subject to market conditions.

Policy, Price, and Positioning: The 2025 Backdrop

Bitcoin set a new all-time high of $124,000 in August 2025, supported by expectations of easier Federal Reserve policy and continued institutional inflows. 

That backdrop has benefited Strategy’s BTC-heavy balance sheet. At the same time, Saylor told Bloomberg in June 2025 he believes “crypto winter is not coming back,” reiterating a long-term path for Bitcoin that he has described as moving toward $1 million over time.

Saylor’s “$1 Bitcoin” line is a statement about capital structure and intent, not a forecast. The company is now legally Strategy Inc, holds roughly $629,000 at a $66,000 average cost, and keeps adding via a playbook of convertible notes, preferred equity, and selective common issuance. 

In 2025’s macro setup — with Bitcoin near record levels and policy tailwinds in play — the firm’s stance remains consistent: no forced liquidation from price-linked loans, and a mandate to keep accumulating Bitcoin through the cycle.

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