Michael Saylor appears to be signaling a return to Bitcoin accumulation after a brief pause, despite Strategy’s recent disclosure of substantial unrealized losses. On Sunday, the company’s executive chairman shared the Bitcoin tracker on X, a move he often uses to foreshadow upcoming purchases. This subtle but familiar gesture comes right after Strategy reported approximately $6 billion in unrealized losses on its Bitcoin investments for the first quarter of 2025.
During Q1, the company acquired 80,715 BTC at an average price of $94,922 per coin, coinciding with a 12% drop in Bitcoin’s price—the asset’s worst quarterly performance since 2018. The timing of the purchase, while bold, reflects Strategy’s long-term conviction in the digital asset. Even with the market downturn, Strategy’s overall Bitcoin position remains massive. The firm now holds 528,185 BTC, representing nearly 3% of Bitcoin’s total circulating supply.
Saylor’s post comes after a temporary halt in Bitcoin purchases during the week ending April 6. This pause was linked to the absence of stock offering purchases tied to the company’s MSTR and STRK securities. The break, though brief, was notable for a firm known for its relentless accumulation of the cryptocurrency.
To date, Strategy has invested roughly $35 billion into Bitcoin at an average purchase price of $67,485 per coin. While the latest quarter brought sharp losses on paper, the company still sits on about $8.6 billion in unrealized gains—an indication of how deep its exposure runs and how early many of its buys were.
The most recent addition to its stash was disclosed on March 31, when Strategy announced the purchase of 22,048 BTC for approximately $1.9 billion. This acquisition pushed its total holdings to 528,185 Bitcoin, with a current estimated market value near $44 billion.
Bitcoin itself has been volatile in recent days, dipping below $75,000 at the beginning of the week before bouncing back above $80,000. The rebound has been partially attributed to rising geopolitical tensions between the United States and China, which have historically influenced global markets and investor sentiment. As of today, the cryptocurrency is trading around $83,700, showing a modest decline in the last 24 hours.
In the face of short-term volatility and heavy unrealized losses, Saylor seems undeterred. His consistent messaging and recurring signals of commitment suggest that Strategy is far from backing down. Whether the market follows suit or continues to test the resolve of institutional holders like Strategy remains to be seen—but Saylor’s playbook remains unchanged: buy, hold, and believe.
By Alejandro Silva Ramírez, Crypto Analyst & Columnist