TL;DR
- Strategy halted its BTC purchases after a market-wide drop, despite being the largest publicly traded corporate holder of BTC.
- Between March 31 and April 6, Bitcoin surpassed $87,000 before falling below $79,000 amid high volatility.
- The company reported an unrealized loss of $5.91 billion, partially offset by an estimated tax benefit of $1.69 billion.
Michael Saylor’s company Strategy, known for being the largest publicly listed corporate holder of Bitcoin, stopped its BTC purchases despite the drop that pushed BTC below $87,000.
The pause occurred between March 31 and April 6, during a period of high volatility in which Bitcoin briefly exceeded $87,000 before falling below $79,000.
Strategy did not acquire new cryptocurrencies or issue Class A shares, a common mechanism it uses to finance Bitcoin purchases. The decision coincided with a filing to the U.S. Securities and Exchange Commission reporting an unrealized loss of $5.91 billion in digital assets during the first quarter of 2025. According to the document, this loss will be partially offset by an estimated tax benefit of $1.69 billion.
A Terrible Quarter for Strategy
As of now, the firm holds a total of 528,185 BTC, purchased for a cumulative amount of $35.6 billion. This implies an average purchase price of $67,458 per unit, a figure that highlights the impact of recent market swings. The last major acquisition took place on March 31, when Strategy added 22,000 BTC to its portfolio.
While the company temporarily paused its purchases, Michael Saylor continued to advocate for Bitcoin’s utility on social media. In his posts, he emphasized that BTC’s volatility reflects its practical value and warned about the economic consequences of policies like tariffs, recently announced by President Donald Trump. He argued that Bitcoin offers an alternative to structural risks such as taxes, regulation, and purchasing power erosion.
Tactical Adjustment
Strategy has committed to a long-term approach that goes beyond short-term market fluctuations. Although the company has posted heavy losses, it remains firm in its BTC accumulation, guided by financial assessments and market conditions. The pause in purchases does not signal a change in direction, but rather a tactical adjustment in response to a particularly unstable week
