Michael Saylor, the executive chairman of Strategy, asserts that the most severe critics of the company are not retail investors or analysts, but rather a coordinated network of bots financed by short sellers.
In a recent discussion with podcaster Natalie Brunell, Saylor claimed that negative online sentiment is being artificially amplified.
"A short seller of my stock has actually hired a digital marketing firm to generate a multitude of bots that spread a wave of nasty, terrible, and skeptical cynicism," he stated.
"It’s very clear to me that someone has invested money to create the illusion of a protest."
Strategy Stock Reaches Five-Month Low Despite Minor Bitcoin Decline
The comments come as Strategy’s stock hovers around five-month lows, dropping to $323 last week even with only an 8% decrease in Bitcoin from its latest peak.
The company, currently valued at $97 billion, has become a key player in corporate Bitcoin investment under Saylor’s guidance.
Nonetheless, not everyone is persuaded by Saylor’s assertions. Veteran short seller Jim Chanos, renowned for uncovering Enron, responded on X: “This is a pretty serious allegation stated as a fact,” he remarked. “Most of the mNAV bears have been quite open about their reasoning.”
Chanos has consistently raised alarms about Strategy’s financial model, which focuses on issuing Bitcoin-backed preferred shares to gather more BTC. He likened the firm’s strategy to the speculative excitement of the 2021 SPAC boom.
“We are witnessing SPAC-like 2021 figures in the Bitcoin treasury market at this moment,” Chanos cautioned in July.
He has also criticized Strategy’s valuation approach, which prompts investors to apply a multiple not just to the company’s existing Bitcoin assets but also to the anticipated growth of those assets.
“Mr. Saylor wants you to assess his business based not only on the net worth of his Bitcoin assets but also with a multiple on the variation in that NAV,” Chanos stated.
“Because now he can leverage his balance sheet, lol.
Saylor’s Strategy Acquires 7,714 BTC in August as Bitcoin Falls Below $108K
Michael Saylor’s Strategy added 4,048 BTC for $449.3 million between August 25 and Monday, raising its total holdings to 636,505 BTC.
The latest acquisition occurred as Bitcoin’s price briefly reached $113,000 before dropping below $108,000, with an average purchase price of $110,981 per coin.
In total, the Strategy secured 7,714 BTC throughout August, a decrease from 31,466 BTC in July, through various smaller transactions, including 3,081 BTC last week.
The firm has now invested approximately $46.95 billion in its Bitcoin reserves, averaging $73,765 per coin.
As reported, Saylor has entered the ranks of the world’s wealthiest individuals, making his debut on the Bloomberg Billionaire Index this week with an estimated net worth of $7.37 billion.
The majority of Saylor’s wealth, around $6.72 billion, is linked to his equity in Strategy, the Nasdaq-listed company recognized for its bold Bitcoin accumulation approach.
Bloomberg estimates that an additional $650 million of Saylor’s assets are held in cash.
The billionaire joins other leaders in the crypto industry on Bloomberg’s top 500, including Coinbase CEO Brian Armstrong, who is currently ranked 234th with $12.8 billion, and Binance founder Changpeng “CZ” Zhao at 40th with $44.5 billion.
