Michael Saylor: Even if Bitcoin crashes 80%, we’ll still be fine Strategy founder Michael Saylor said in a CNBC interview on November 14 that he’s not worried about further price drops, stating the company can “withstand an 80%–90% drawdown and keep operating.” The company employs a strategy similar to a smart bank, using preferred stock to amplify returns for common stockholders. These preferred shares have no maturity date, dividends are declared by the board rather than being fixed coupons, and there’s no risk of default. Currently, the digital credit issued by the company carries no credit default risk. Video source: https://youtu.be/nEeVgtDn3Bw?si=QUqp2uDBBzGVAc7_