Michael Saylor claims Bitcoin could surge to $10 million if more people understood his view, but MicroStrategy's recent $75.3 million Bitcoin purchase is already underwater. Strategy disclosed buying 855 BTC for $87,974 per coin, pushing its total holdings to 713,502 coins valued at $50 billion – down from $54.3 billion. This $4 billion unrealized loss follows a 50% stock decline since July 2025 and a $12.4 billion Q4 net loss.

The company's net asset value (NAV) stands at 1.1, above the $1 threshold where selling Bitcoin might be forced, but the premium is thin. Critics question Saylor's $10 million claim and warn the debt-funded strategy increases leverage risks. Despite losses, Strategy bought more Bitcoin in November and maintains a $2.25 billion cash reserve.

MSTR stock has a "Strong Buy" consensus rating, implying 215% upside potential.