❄️ Michael Saylor: "Crypto winter has arrived, but the recovery cycle has already begun."

▪ The crypto market and the current "winter."

➠ The crypto winter has already started, but it is significantly milder than previous cycles. This is the fifth major Bitcoin decline in the last five years, and the current correction is within historical norms.

➠ This downturn will be shorter than past cycles, followed by phases of recovery and new growth.

➠ Volatility is natural for Bitcoin, and it does not change the company's strategy.

▪ Support from banks and the government.

➠ Unlike previous cycles, today the banking sector is more actively integrating digital assets and digital credit networks are forming.

➠ The US administration and a significant portion of the cabinet support digital assets and innovation.

➠ Every month, technological and infrastructural shifts occur that attract additional capital into the digital asset class.

▪ Strategy purchases.

➠ Strategy plans to continue buying Bitcoin at least once a quarter, regardless of the current price.

➠ Volatility is seen as a temporary phenomenon, not a reason to reconsider the fundamental approach.

▪ "Black Swan" scenario.

➠ There is enough cash on hand to cover obligations for approximately 2.5 years even in a frozen market.

▪ Macroeconomics and the Fed rate.

➠ Bitcoin is a global digital capital and depends not only on the Fed's monetary policy.

➠ BTC has three fundamental drivers: demand as "the best gold," as an asset of digital financial transformation, and as a form of global ownership that can be moved between countries.

➠ Regardless of macro conditions, one of these drivers will ensure long-term growth.

▪ Institutional adoption and diversification.

➠ More and more investors are adding a small portion of BTC to their portfolios for diversification, even if they are not ideological supporters.

➠ The industry has entered a phase of more mature institutional participation compared to previous cycles.