Bitcoin (BTC), which is a popular digital currency used all around the world, has been struggling to regain its value in December 2025. Many traders have started criticizing Michael Saylor, a prominent Bitcoin advocate, and his company MicroStrategy. Social media is filled with concerns about borrowing too much money (also called leverage), debts, and the possibility of selling Bitcoin under pressure.
An analytics firm called Santiment has shared an interesting observation. They believe the widespread negative feelings about high-profile Bitcoin holders like Saylor may be hinting at a potential rebound for Bitcoin. According to Santiment, when negativity reaches extreme levels, it often marks the market’s low points and suggests that more people might have already sold their Bitcoin, leaving fewer sellers.
Challenges for Saylor and MicroStrategy
Santiment observed that discussions about Michael Saylor and MicroStrategy grew louder in mid-November 2025. This happened after Bitcoin failed to gain traction. Another reason for the backlash was the sharp drop in MicroStrategy’s stock price. The stock price went down significantly, dropping from about $456 in July to around $160 in December, which is a decrease of 65%. This caused frustration among traders.
MicroStrategy, a business intelligence software company that also owns a large amount of Bitcoin, has taken an aggressive approach by borrowing huge amounts of money to buy Bitcoin. This was a successful strategy when the Bitcoin market was strong. However, during downturns when Bitcoin prices drop, this approach looks risky and causes concerns among investors.
On social media platforms like X (formerly Twitter) and Reddit, traders have started sharing fears that MicroStrategy might lose control due to borrowing too much money. Even though most of the company’s debts do not need daily repayments, people are worried about the risks. Another worry is how MicroStrategy now operates since it is seen less as a software company and more like an indirect Bitcoin business.
As people speculate about the worst-case scenarios, they post ideas like MicroStrategy potentially selling its Bitcoin or facing difficulties that could harm shareholders. These fears continue even though such situations are not definite.
To add to this unsettled mood, a platform called Polymarket showed that three weeks ago, 61% of traders were betting that MicroStrategy could be removed from the MSCI Index by the end of March next year. The MSCI Index tracks performances of companies in the stock market. If MicroStrategy gets excluded, it could mean trouble for the company.
Does Extreme Negativity Mean the Market Could Improve?
Amid all this criticism, Santiment sees a brighter side to the situation. They say the heavy negativity about Michael Saylor and his company MicroStrategy might be a hidden sign that Bitcoin prices could stabilize or rise. Excessive pessimism creates an environment where weak sellers have already left, leaving the market less likely to face more selling pressure.
Data from another firm called CryptoQuant also shows that MicroStrategy is now using a more cautious approach. The company has reduced how much Bitcoin it buys and has set aside enough cash to pay off dividends or interest for at least one year. This defensive strategy provides some safety for the company if the market stays uncertain.
Even though MicroStrategy still holds over 670,000 BTC, they have adjusted their strategies to allow for selling Bitcoin or using derivatives for risk management. Derivatives are financial tools that derive their value from an underlying asset, like Bitcoin. These moves show that MicroStrategy is preparing to handle its risks.
Santiment also said that when people’s feelings about a figure like Michael Saylor become deeply negative, even small good news can quickly change people’s opinions. While fear is not a guaranteed sign of improvement, history shows that when chatter online gets extremely negative, the market might already consider the worst-case risks, which could lead to improvement eventually.
This report suggests that though the current outlook for Bitcoin is uncertain, the widespread anxiety could mean that the market is nearing a stabilization point.
For additional details on the concepts referred to in this article, check their official definitions:
- Bitcoin – A decentralized digital currency.
- Michael Saylor – Co-founder of MicroStrategy and well-known Bitcoin advocate.
- MicroStrategy – A company owning a significant amount of Bitcoin.
- Polymarket – A platform for predicting future events using cryptocurrency.
- MSCI Index – Benchmarks for assessing stock market performance.
- CryptoQuant – A firm studying blockchain activities and trends.