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

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.

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.

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

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.

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offers protection against factors that typically reduce capital value, including taxes, regulations, competition, outdated technology, and unexpected events.

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