Strategy Pauses Bitcoin Purchases as Price Drops Below $87,000
The world's largest publicly listed corporate holder of Bitcoin, Strategy, did not add to its Bitcoin holdings last week as the cryptocurrency's price fell below $87,000. According to an April 7 filing with the US Securities and Exchange Commission, the company made no Bitcoin purchases during the week of March 31 to April 6.
This pause in purchasing came during a week of significant market volatility. Bitcoin prices started around $82,000, then surged to as high as $87,000 on April 2, before dropping again, based on data from CoinGecko.
Strategy's filing also revealed a substantial unrealized loss on its digital assets. "Our unrealized loss for the quarter ended March 31, 2025, was $5.91 billion, which we expect will result in a net loss for the quarter," the company stated. This loss is expected to be partially offset by a related income tax benefit of $1.69 billion.
As of April 7, Strategy held 528,185 Bitcoin purchased at a total cost of $35.6 billion. This puts their average acquisition price at $67,458 per Bitcoin. The company also did not sell any shares of class A common stock during the period, which it typically uses to finance Bitcoin purchases.
Despite the company's pause in Bitcoin acquisition, Michael Saylor, Strategy's co-founder and former CEO, continued to promote Bitcoin on social media. After Bitcoin fell from its intra-week high following US President Donald Trump's tariffs announcement, Saylor posted on X: "Today's market reaction to tariffs is a reminder: inflation is just the tip of the iceberg."
In another post on April 3, Saylor claimed, "Bitcoin is most volatile because it is most useful." He added that Bitcoin offers protection against multiple threats to capital, including:
- Taxes
- Regulation
- Competition
- Obsolescence
- Unforeseen events
Saylor described Bitcoin as offering "resilience in a world full of hidden risks," continuing his public support for the cryptocurrency despite his company's current pause in purchases and significant unrealized losses.
This recent pause in purchasing represents a shift from Strategy's aggressive acquisition strategy earlier this year. In March, the company had announced plans to raise up to $21 billion through a new "ATM Program" to purchase more Bitcoin. Between January and March 2025, Strategy had made six Bitcoin acquisitions, adding 52,696 BTC to its holdings, which stood at 499,096 Bitcoin valued at $41.2 billion in early March.
