Strategy’s BTC Holdings Rise, But Last 13 Purchases in 25% Loss

Strategy formerly MicroStrategy has acquired an additional 130 Bitcoin for approximately $10.7 Million at an average price of $82,981 per Bitcoin . This was confirmed as per an announcement from Executive Chairman Michael Saylor.

This latest purchase brings the business intelligence firm’s total holdings to 499,226 BTC. The BTC was acquired at an average price of $66,360 per coin for a total investment of roughly $33.1 Billion.

MicroStrategy’s Recent BTC Purchases Facing Substantial Paper Losses

MicroStrategy’s latest purchase comes at a time when Bitcoin’s price has pulled back from its all-time highs.

According to data from the SaylorTracker portfolio tracker, MicroStrategy’s 13 most recent Bitcoin acquisitions are collectively down nearly 25% from their purchase prices.

The company’s February 24, 2025 purchase of 20,356 BTC for $1.99 Billion ($97,514 per coin) has suffered a 14.86% decline in value. This is an unrealized loss of approximately $295.8 Million on that single transaction.

Similarly, the January 27, 2025 acquisition of 10,107 BTC at $105,596 per coin has experienced a 23.53% drop. This has created a paper loss of $258.8 Million.

The January 21 purchase of 11,000 BTC at $101,191 per coin is down 16.77%. While the February 10 acquisition of 7,633 BTC at $97,255 shows a 14.43% drop.

This pattern extends to purchases made in late 2024. With the November 25 acquisition of 55,500 BTC at $97,862 per coin currently down 14.46%. This is an unrealized loss of $780.7 Million on that single transaction.

Screenshot | Source: Saylortracker

Out of the company’s 13 most recent Bitcoin acquisitions, 12 are currently underwater, with only the March 17 purchase and the November 11, 2024 purchase of 27,200 BTC at $74,463 showing positive returns. The November 11 acquisition is up 11.52%, representing an unrealized gain of $233.9 Million.

These paper losses haven’t affected MicroStrategy’s Bitcoin acquisition strategy, which continues to focus on long-term accumulation regardless of short-term price fluctuations.

All-time BTC Acquisition Performance Remains Positive

Despite the losses on recent purchases, MicroStrategy’s overall Bitcoin investment continues to show strong positive performance.

The company’s total Bitcoin holdings are valued at approximately $41.6 Billion at current prices. This is an all-time unrealized profit of $8.46 Billion or 25.52% on its $33.1 Billion investment.

Source: Saylortracker

This positive performance is largely driven by Strategy’s earlier Bitcoin acquisitions, which were made at substantially lower prices.

The current average price of Bitcoin across all the company’s purchases stands at $66,360, while Bitcoin is trading around the $83,000 range.

Strategy began its Bitcoin treasury strategy in August 2020 when the cryptocurrency was trading below $12,000.

These initial purchases, along with several acquisitions made during 2020 and 2021 at relatively low prices, continue to offset the unrealized losses.

The company now holds 499,226 BTC, which is approximately 2.38% of Bitcoin’s total circulating supply of 21 million coins.

This substantial position makes MicroStrategy by far the largest corporate holder of Bitcoin, with holdings that exceed those of most countries and financial institutions.

Acquisition Pattern Shows Shift to Smaller, More Frequent Purchases

MicroStrategy’s Bitcoin acquisition strategy appears to be changing based on the timing and size of recent purchases.

The company has moved toward a pattern of smaller, more frequent acquisitions in 2025 compared to the larger block purchases seen in late 2024.

The March 17 purchase of 130 BTC for $10.7 Million is MicroStrategy’s smallest Bitcoin acquisition in terms of both coin count and dollar value since the company began its Bitcoin treasury strategy.

This contrasts sharply with the November 25, 2024 purchase of 55,500 BTC for $5.4 Billion and the December 9, 2024 acquisition of 21,550 BTC for $2.1 Billion.

In 2025 alone, MicroStrategy has made six separate Bitcoin purchases: 8,130 BTC on January 6, 8,530 BTC on January 13, 11,000 BTC on January 21, 10,107 BTC on January 27, 7,633 BTC on February 10, and 20,356 BTC on February 24, before the latest 130 BTC addition on March 17.