Michael Saylor-led Strategy Inc. has slipped into unrealized losses after Bitcoin dropped below the company’s average purchase price, reigniting debate around its aggressive BTC accumulation strategy.
Bitcoin fell to around $75,300 over the weekend, dipping beneath Strategy’s average holding cost of roughly $76,037 per coin. As a result, the firm’s massive Bitcoin treasury is now sitting on an unrealized loss estimated at more than $900 million, according to on-chain analytics platform Lookonchain.
BREAKING: MicroStrategy’s, $MSTR, Bitcoin position officially turns red as Bitcoin falls below $76,000. pic.twitter.com/IRZjYzJS8H
— The Kobeissi Letter (@KobeissiLetter) January 31, 2026
Despite the downturn, Strategy remains the world’s largest corporate holder of Bitcoin, with about 712,647 BTC on its balance sheet.
Bitcoin dip pushes strategy holdings into the red
The recent decline follows another round of Bitcoin purchases by Strategy last week. The company disclosed that it bought 2,932 BTC for approximately $264.1 million between January 20 and January 25, paying an average price of $90,061 per coin, including fees.
Bitcoin’s slide to a seven-week low has weighed heavily on sentiment across the crypto market. At press time, BTC was trading near $75,871, down nearly 4% over the past 24 hours, as a sharp sell-off triggered liquidations of almost $1 billion on leveraged long positions, according to Google Finance data.
Strategy stock feels the heat, but there is no forced selling risk
While Strategy’s Bitcoin losses remain unrealized, the impact has been felt in its stock performance. Shares of Strategy Inc. (MSTR), which are closely tied to Bitcoin due to the firm’s equity-funded purchases, are down about 61% over the past six months and were trading near $149.71 at press time.
Still, analysts note that the paper losses do not create immediate balance sheet stress or force the company to sell its Bitcoin holdings.
Amid the volatility, Saylor has shown no signs of backing down. On Sunday, he hinted at another potential purchase with his familiar “more orange” message, a nod to continued Bitcoin accumulation.
The move drew mixed reactions from the crypto community. While some questioned the timing, others argued that Strategy’s confidence underscores its ability to grow its Bitcoin stack without liquidating assets or diluting shareholders.
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