Michael Saylor has officially pushed his total Bitcoin holdings to 713,502 coins with an aggregate purchase price of over $54 billion, but his average cost basis now sits at $76,052 per coin. With Bitcoin currently testing the $75,000 range, his entire strategy is technically underwater, and the inflation-adjusted loss is a staggering blow to his credibility as a “macro” genius. This isn’t just a paper loss; it’s a structural threat because his company relies on convertible debt and constant equity issuance to stay afloat. People are ignoring the fact that his “21/21 Plan” to raise another $42 billion becomes impossible when the stock trades at a discount to the Bitcoin it holds. He’s turned a decentralized asset into a centralized debt bomb, and when the liquidity dries up, there won’t be anyone left to bail out the man who bet the farm on a single ticker.
Just look at this document…
Michael Saylor spent $50 billion over 5 years buying Bitcoin, and he’s now underwater.
In fact, adjusted for inflation, he’s down about ~$10 billion.
Most of his BTC was purchased with borrowed money, which has to be paid back.
Things are about to… https://t.co/5O8ehTPpgx pic.twitter.com/hSL5JVZQIe
— NoLimit (@NoLimitGains) February 2, 2026
🔴US Bitcoin ETFs are experiencing MASSIVE redemptions:
Investors have pulled out ~$5.7 BILLION from the 12 US-listed spot Bitcoin ETFs over the last 3 months.
This marks the longest and biggest outflow streak since they were launched in 2024.
In January, Bitcoin ETFs saw $1.1… pic.twitter.com/8ANHvh2y7c
— Global Markets Investor (@GlobalMktObserv) February 2, 2026