Bitcoin crash can kill Michael Saylor’s strategy: Wall Street analysts

Jim Chanos and Cliff Asness have openly criticized Michael Saylor’s claims about the safety of his Bitcoin strategy. Chanos argues that Strategy must repay its convertible debt regardless of Bitcoin’s performance, undermining Saylor’s stance that it poses no risk.

Despite the skepticism, Strategy’s stock has risen by 27% this year and over 3,000% since 2020 when Saylor began purchasing Bitcoin. This sharp increase, however, raises questions about the sustainability of such growth amid market volatility.