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Bitcoin

Bitcoin Falls Below $80K, And Michael Saylor Takes A Rain Check On Buying

Christian Encila
by Christian Encila
5 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The corporate world’s biggest Bitcoin holder has stopped buying more of the cryptocurrency as prices fell sharply last week. According to recent filings, Strategy reported a massive $5.91 billion unrealized loss for the first quarter of 2025, though this blow was softened by a $1.69 billion tax benefit.

Related Reading: Conor McGregor’s Memecoin Taps Out—Failed Launch Sparks Refund Pledge

Strategy Hits Pause Button On Bitcoin Buys

In documents filed with the US Securities and Exchange Commission on April 7, Strategy disclosed it made no Bitcoin purchases from March 31 to April 6. This break from buying comes after a period of price swings in the cryptocurrency market. The company held steady with its 528,185 BTC, bought at an average price of $67,458 per coin, with total spending reaching $35.6 billion.

The timing of Strategy’s decision lines up with the top crypto’s recent price drops. After climbing to $87,000 on April 2, Bitcoin fell below $82,000 and later sank under the $80,000 mark on April 6.

Company Faces Billions In Paper Losses

A filing with the Securities and Exchange Commission showed Strategy’s $5.91 billion unrealized loss during the quarter to March 31, 2025. Scary as that sounds, the company is anticipating a corresponding tax benefit of $1.69 billion to partially mitigate the loss.

BTC is now trading at $79,817. Chart: TradingView

The “paper losses” take into account the current market price versus how much Strategy actually paid, but aren’t real money lost unless the company sells what it has.

Strategy also paused its usual practice of selling shares of class A common stock during this period. The company typically uses money from these sales to fund its Bitcoin purchases.

Bitcoin is most volatile because it is most useful. https://t.co/XzCNHrdsh0

— Michael Saylor⚡️ (@saylor) April 4, 2025

Saylor Remains Vocal Bitcoin Supporter

Despite the buying pause, Michael Saylor, Strategy’s CEO and co-founder, has kept up his public support for Bitcoin. On April 3, just after BTC dropped from $87,100 to $82,000 following US President Donald Trump’s tariff announcement, Saylor shared on X (formerly Twitter) that the coin’s volatility was actually a sign of its usefulness.

Related Reading: Bitcoin At Risk? Jack Dorsey Says It Must Be More Than A Store Of Value

In another post, Saylor wrote: “Today’s market reaction to tariffs is a reminder: inflation is just the tip of the iceberg.” He argued that Bitcoin offers protection against factors that typically reduce capital value, including taxes, regulations, competition, outdated technology, and unexpected events.

Market Watches Strategy’s Next Move

Financial experts and cryptocurrency investors are paying close attention to what Strategy does next. The company’s large-scale Bitcoin purchases have often affected both prices and market confidence in the past.

Featured image from Gemini Imagen, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Christian Encila

Christian Encila

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Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

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