Michael Saylor’s Strategy halts Bitcoin buys despite dip below $87K
Michael Saylor’s firm Strategy, the world’s largest publicly listed corporate holder of Bitcoin, did not add to its BTC holdings last week as the cryptocurrency’s price dropped below $87,000.In a filing with the US Securities and Exchange Commission on April 7, Strategy announced it made no Bitcoin (BTC) purchases during the week of March 31 to April 6.The decision followed a week of heightened market volatility, with BTC surging to as high as $87,000 on April 2 after starting the week at around $82,000, according to data from CoinGecko.Bitcoin price from March 31, 2025, to April 6, 2025. Source: CoinGeckoBTC fell below $80,000 on April 6, a significant discount from the average BTC price of Strategy’s previous 22,000 BTC purchase announced on March 31.Strategy reports unrealized loss of $5.91 billion on digital assets in Q1In the period from March 31 to April 6, Strategy also did not sell any shares of class A common stock, which it tends to use for financing its Bitcoin buys, the filing stated.As of April 7, Strategy held an aggregate amount of 528,185 Bitcoin bought at $35.6 billion, or at an average price of 67,458 per BTC, it added.An excerpt from Strategy’s Form 8-K report. Source: SEC“Our unrealized loss on digital assets for the quarter ended March 31, 2025, was $5.91 billion, which we expect will result in a net loss for the quarter ended March 31, 2025, partially offset by a related income tax benefit of $1.69 billion,” the filing added.“Bitcoin is most volatile because it is most useful”While Strategy avoided buying Bitcoin last week, its co-founder and former CEO, Saylor, continued posting about the crypto asset’s superiority on social media.“Bitcoin is most volatile because it is most useful,” Saylor wrote in an X post on April 3, soon after BTC tumbled from the intra-week high of $87,100 on April 2 below $82,000, following the tariffs announcement by US President Donald Trump.Related: Has Michael Saylor’s Strategy built a house of cards?Source: Michael Saylor“Today’s market reaction to tariffs is a reminder: inflation is just the tip of the iceberg,” Saylor wrote in another X post.“Capital faces dilution from taxes, regulation, competition, obsolescence, and unforeseen events. Bitcoin offers resilience in a world full of hidden risks,” he added.Magazine: New ‘MemeStrategy’ Bitcoin firm by 9GAG, jailed CEO’s $3.5M bonus: Asia Express
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