The narrative that Saylor is responsible for Bitcoin's decline is overblown.

"Saylor's rhetoric used to be unequivocally bullish, but now he is openly teasing his audience and ambiguously suggesting that there is more behind the familiar chart of purchases."

"Ju said that he didn’t believe Michael Saylor was the only one to blame for the poor performance of Bitcoin. He added that the 'death spiral' narrative seemed to be overdone."