Bitcoin’s recent slide has hit Michael Saylor’s Strategy, the world’s largest corporate $BTC holder, with one of the biggest paper losses in its history.
According to filings and on-chain data, Bitcoin falling below its average purchase price has pushed the value of Strategy’s ~713,000 BTC treasury into multi-billion-dollar unrealized losses — the first time in this cycle.
📉 Why This Happened
BTC dipped below key levels near $75,000, causing losses relative to Strategy’s average cost.
Recent purchases at higher prices raised the average cost, amplifying unrealized losses.
No BTC has been sold — Strategy is holding for the long term.
🧠 What This Means
Unrealized losses are not the same as bankruptcy. It’s only paper losses — no BTC has been sold at a loss.
However, the stock price of MSTR, which tracks BTC exposure, feels the pressure.
Raises questions: is holding BTC on a corporate balance sheet brave or risky?
🔥 Community Take
Bears: “BTC isn’t a safe reserve.”
Bulls: “Volatility is part of the game — Strategy is in it for the long haul.”
Degens: “When Saylor bleeds, markets bleed… until liquidity returns.” 😎
📌 Bottom Line
Strategy’s BTC stack has turned big paper profits into big paper losses, but no liquidation occurred. This is a volatility milestone, showing how corporate BTC strategies are tested in choppy markets.
