Jim Cramer Sets Bitcoin 'Line In The Sand,' Urges Michael Saylor To Act Before Strategy's Q4 Earnings

Popular market commentator and TV personality Jim Cramer made a rather dramatic plea to Strategy Inc. (NASDAQ:MSTR) Chair Michael Saylor on Tuesday, urging him to act and stop Bitcoin’s (CRYPTO: BTC) decline.

Cramer’s Proposal To Saylor

In an X post, Cramer suggested Saylor issue a zero-coupon convertible bond to limit Bitcoin’s downside at $73,802, a level he described as the “line in the sand.”

“Strategy’s earnings depend upon it, and what will you talk about when you report on Thursday. Let’s get this done,” Cramer made a tongue-in-cheek remark.

An hour later, Cramer identified another key level at $73,820, saying it cannot be breached. He again asked Saylor to use corporate maneuvers to “stop the decline.”

Strategy didn't immediately return Benzinga's request for comment.

The “Mad Money” host has been in overdrive amid a brutal sell-off that has dragged Bitcoin to levels not seen since November 2024. He has made several posts mentioning Saylor and his Bitcoin treasury company.

Notably, Strategy acquired 855 BTC at an average price of $87,974 last week, funded entirely through selling Class A shares. Cramer questioned whether Saylor had enough capital left to defend the sell-off.

Can Saylor’s Company Survive The Bitcoin Downturn?

The MSTR stock is often described as a leveraged Bitcoin proxy due to its recursive strategy of issuing common stock, preferred stock and convertible bonds to acquire more BTC as its price rises. As of this writing, it carries a total debt of $8.24 billion.

However, Bitcoin’s rapid decline has affected the company’s financial position. The company owns 713,502 BTC, acquired for more than $54 billion at an average price of $76,052 per BTC. Its position briefly turned red on Tuesday, a point economist Peter Schiff highlighted in an X post.

Meanwhile, Saylor took to X, repeating his Bitcoin HODL mantra. He previously said that the firm is "engineered" to withstand an 80-90% Bitcoin drawdown and keep operating.

 Strategy is set to report earnings for the fourth quarter of 2025 after the market close on Thursday.

Price Action: At the time of writing, BTC was exchanging hands at $76,612.10, down 2.42% in the last 24 hours, according to data from Benzinga Pro.

Strategy shares fell 1.47% in after-hours trading after closing 4.56% lower at $133.26 during Tuesday's regular trading session.

MSTR maintained a weaker price trend over the short, medium, and long terms with a poor Value ranking, according to Benzinga’s Edge Stock Rankings.

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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