Veteran trader Peter Brandt has issued a stark warning to Strategy shareholders.
The chartist recently took to X (formerly Twitter) to question the resolve of investors in Michael Saylor’s company, which has aggressively leveraged its balance sheet to acquire Bitcoin.
"When on this journey will investors want to start jumping from the Sayl_boat? $BTC," Brandt wrote. "MS will do just great, but what about his investors?"
$900 million loss
Brandt’s comments come as MicroStrategy’s aggressive accumulation strategy faces its first major stress test of 2026.
According to data from on-chain analytics firm Lookonchain, the recent price plunge has pushed Michael Saylor's massive Bitcoin treasury into the red.
The 712,647 BTC held by Strategy (formerly MicroStrategy) faced an unrealized loss of over $900 million.
The company itself may be willing to "HODL" through the downturn, but the public market investors who bought MSTR stock as a high-beta proxy for Bitcoin might capitulate if the losses mount.
The shares of the business intelligence firm are now down 72% from the record peak of $543 that was reached back in November 2024. The company has now seen seven consecutive months in the red in a row.
A trip to $54,000?
The "journey" Brandt refers to is depicted in a terrifying technical chart he shared alongside his warning.
Brandt's chart shows that the leading cryptocurrency is currently in the process of breaking down from a corrective "bear flag" channel.
BTC has now decisively lost the support of the rising channel that characterized the early 2026 consolidation.
Notably, the chart includes a projected arrow pointing all the way down to $54,059.60.
If this target plays out, it would represent a further 28% drop from current levels. For MicroStrategy, a drop to $54,000 would place their holdings billions of dollars underwater.
Alex Dovbnya
Arman Shirinyan
Denys Serhiichuk