Michael Saylor’s MicroStrategy stock has dropped 51% over the past 6 months, even though the company now holds around 650,000 Bitcoin.

It raises a fair question

Should anyone actually be worried?

For long-term BTC believers, this kind of volatility isn’t new. MSTR has always amplified Bitcoin’s moves — both up and down. The company is basically a leveraged bet on BTC, so when the market cools off, the stock usually takes a much harder hit.

But if Bitcoin recovers strongly, MSTR tends to rebound even faster.

Right now the chart looks rough, but the story isn’t over.