Saylor says Bitcoin consolidation shows market maturity, not weakness

21-9-2025 – Michael Saylor dismissed concerns about Bitcoin’s recent sideways price action, calling the consolidation phase a positive sign of market maturation. Speaking on Natalie Brunell’s “Coin Stories” podcast released Friday, Saylor noted Bitcoin remains up 99% over the past year despite reduced volatility.

Saylor explained that early adopters who purchased Bitcoin at single-digit prices are now selling modest portions to fund real-world expenses like housing and education, similar to startup employees exercising stock options. This natural selling pressure from long-term holders is creating space for institutional investors who prefer lower-volatility assets, he argued. “The volatility is coming out of the asset — that’s a really good sign,” Saylor said.

The executive outlined Strategy’s strategy to create Bitcoin-backed credit instruments, including preferred stock products offering yields up to 12% while being over-collateralized with Bitcoin. These products—dubbed Strike, Strife, Stride, and Stretch—aim to give Bitcoin “cash flow-like qualities” that could facilitate inclusion in traditional credit and equity indexes. Saylor described conventional bonds as “yield-starved” and under-collateralized compared to Bitcoin-backed alternatives.

Regarding Strategy’s absence from the S&P 500, Saylor noted the company only became eligible this year following accounting rule changes and expects eventual inclusion as markets grow comfortable with Bitcoin treasury strategies.

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