$BTC $9.5 BILLION PAPER LOSS: Saylor’s Bitcoin Bet Under Pressure The volatility is hitting hard. Michael Saylor’s Strategy is now sitting on a staggering $9.5 billion unrealized loss on its Bitcoin holdings as BTC struggles below key levels. For years, Strategy doubled down relentlessly — buying dips, issuing debt, and turning its balance sheet into a Bitcoin proxy. But in this phase of the cycle, mark-to-market reality is brutal. Unrealized doesn’t mean realized — but the drawdown is massive. And with leverage involved, market swings hit even harder. Still, Saylor has made one thing clear: this is a long-term conviction trade, not a quarterly flip. The real question now: does Strategy buy more into weakness… or does pressure finally mount? When conviction meets volatility, only one wins. #Crypto #Bitcoin #BTC