Bitcoin’s recent price surge has been impressive, hitting new all-time highs while the broader US stock market lags. But is this independence extending to its relationship with MicroStrategy (MSTR)? Recent indicators suggest a possible split is brewing.
Saylor’s Controversial Stance
Michael Saylor, MicroStrategy’s CEO and a well-known Bitcoin advocate, recently caused a stir at the Bitcoin 2025 conference. He vehemently opposed the idea of “proof of reserves,” comparing it to publicly revealing your children’s bank account details. This unexpected criticism has raised eyebrows within the crypto community, leading some to question MicroStrategy’s claimed Bitcoin holdings. The company recently added 4,020 BTC to its stash, bringing its total to a whopping 580,250 BTC. This makes them a major Bitcoin holder, second only to Satoshi Nakamoto and BlackRock’s IBIT ETF.
A Risky Strategy?
Saylor has long been lauded for his Bitcoin purchases, seemingly timing the market well. However, his recent comments have shifted public perception. The resurgence of a news article from 2000, highlighting Saylor’s massive losses during the dot-com bubble, hasn’t helped. This past experience, where MSTR’s stock plummeted by 99%, serves as a stark reminder of potential risks.
Decoupling on the Horizon?
Historically, MicroStrategy’s stock price has mirrored Bitcoin’s trajectory, showing a strong positive correlation (currently at 0.83). But recent technical indicators hint at a potential divergence. While Bitcoin shows increasing bullish momentum, MicroStrategy displays bearish signals. If Bitcoin continues its upward trend while MicroStrategy falls, a clear decoupling could occur. However, it’s also possible that MicroStrategy’s downturn could drag Bitcoin down with it. The future remains uncertain.