Strategy's stock price has fallen this much, and today Saylor came out again to make a statement. He threw out a big chart showing the company's $50 billion in cryptocurrency holdings, casually hinting: we still need more data points.

Down? Scared of the drop, huh? I'm still buying. Let me decode it for you: who is he really talking tough to with this bluster? Definitely not to us retail investors. Whether we buy his stock or not is nothing more than a drop in the bucket for his operation.

The real target of his message is the group of followers still holding onto MSTR whose faith is about to crack.

The company's market cap just fell below the value of the crypto it holds—the fuel for the financing flywheel is gone. At a time like this, his biggest fear is a collapse of belief and a stampede exit. Saylor knows this better than anyone. So he has to step up, put on a show of "I'm not afraid, and I’m going to buy more" to give those wavering a little more hope.

It’s like a ship that has started taking on water—the captain runs up on deck, doesn't plug the hole, but first yells, "Everybody stay calm, I'm going to buy an even bigger ship." That shout from the captain is meant to stabilize morale.

But as for the hole in the hull, no amount of shouting will patch it. I'm not saying he's definitely wrong, and I'm not concluding that he won't actually buy more. Saylor has managed to pull it off before—he's pulled himself back from the edge several times. Whether he can do it this time, I don't know.

I just want to remind you of one thing: when a person has to keep shouting "I am strong" to prove himself, you need to have your own scale to judge how strong he really is. Tomorrow is STRC's ex-dividend date. Let the books speak for themselves when the time comes.