The post Michael Saylor holds off on Bitcoin buys as price falls below $87K appeared on BitcoinEthereumNews.com.

Michael Saylor’s Strategy, the largest corporate holder of Bitcoin globally, has reportedly held off on further Bitcoin acquisitions as the cryptocurrency’s price experienced a notable dip below the $87,000 mark. The firm also revealed an unrealized loss of $5.91 billion in the first quarter. On April 7, Strategy declared in a filing with the US Securities and Exchange Commission that it had not made any Bitcoin purchases from March 31 to April 6. Strategy paused Bitcoin purchases last week amid increased market volatility  Strategy’s decision follows a week where Bitcoin saw significant price fluctuations, climbing as high as $87,000 on April 2nd before retracting below $82,000. Later, on April 6, Bitcoin went below $80,000, a significant decrease from the average BTC price of the last 22,000 Bitcoin purchased by Strategy reported on March 31. Additionally, Strategy said it held 528,185 Bitcoin as of April 7, purchased at a cost of $35.6 billion, or an average price of 67,458 per BTC. Furthermore, based on the SEC’s filing, Strategy did not sell any shares of class A common stock during the March 31–April 6 period, when it usually sells shares to fund its Bitcoin purchases. The filing also mentioned that “Our unrealized loss on digital assets for the quarter ended March 31, 2025, was $5.91 billion, which we expect will result in a net loss for the quarter ended March 31, 2025, partially offset by a related income tax benefit of $1.69 billion.” Saylor speculates that Bitcoin offers resilience in a world where threats are unpredictable Although Strategy refrained from purchasing Bitcoin last week, the CEO and co-founder of Strategy, Michael Saylor, still continued his vocal advocacy for Bitcoin. In support of this, he continued promoting the advantages of the cryptocurrency on social media. On April 3, on the X platform, Saylor…

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Filed under: News - @ April 7, 2025 8:23 pm