Lepard Predicts Bitcoin Rally Could Send Strategy Shares Soaring
Investor Lawrence Lepard says the current crypto bear market presents one of the strongest long-term buying opportunities in years. He believes that while fear around Bitcoin and Strategy (formerly MicroStrategy) is dominating the market, the selloff resembles previous cycle bottoms where investors had already capitulated before prices recovered sharply.
Lepard recently increased his position in Strategy, calling the recent selloff an overreaction. According to him, Strategy remains a leveraged play on Bitcoin, making it more volatile than holding BTC directly. He disputes claims that Michael Saylor is taking excessive risks, stating the company's leverage remains well managed.
Lepard also rejects criticism of Strategy's balance sheet, highlighting that its first major debt maturity is still several years away and preferred shares do not require immediate redemption. Management has multiple options available, including adjusting preferred dividends if required.