Strategy Inc. has seen its stock price decline by approximately 20% since June, while Bitcoin has risen about 6% and reached a new all-time high. This divergence has led to market skepticism regarding Michael Saylor's "buy and hold" Bitcoin strategy. Saylor, however, remains unfazed, explaining that the company's stock premium fluctuates with leverage and Bitcoin's volatility, which he considers a normal aspect of the Bitcoin treasury company model. He noted that this model has only recently been recognized by the market, and investors are still understanding its operational logic.