Michael Saylor Hints at More Bitcoin Buys as Portfolio Drops

Strategy faces a $13.23B unrealized loss on its Bitcoin holdings as Michael Saylor signals potential new purchases despite market pressure.

In a post on the social network X, the company’s Executive Chairman wrote simply: “We’re going to need more charts,” accompanied by updated statistics on the corporate BTC portfolio.

Portfolio Remains Under Pressure

According to the published data, Strategy holds a total of 847,363 BTC, acquired through 113 separate purchases at an average price of $75,653 per token. With Bitcoin trading around $60,200, the value of these reserves stands at approximately $50.88 billion. This represents an unrealized loss of roughly $13.23 billion, or about 20.6% relative to the average purchase price.

The data further reveals that many of the most aggressive purchases made over the last two years are currently “underwater.” Market analysts note that all Bitcoin quantities acquired by the company during 2024, 2025, and 2026 are currently held at an unrealized loss following the price decline of the leading cryptocurrency.

Despite the negative position, the company shows no signs of shifting its strategy. On the contrary, Saylor’s post was interpreted by the market as a traditional hint of an impending new purchase—a pattern investors have observed multiple times before official announcements of BTC reserve expansions.

Funding Model Under Growing Scrutiny

The last publicly announced purchase by Strategy was for 520 tokens on June 22, a deal partially funded through the sale of company shares. This specific model of constantly raising capital to finance new acquisitions has become a subject of intense discussion among analysts.

Additional attention is focused on the preferred stock STRC, which has traded under heavy pressure in recent weeks. According to market observers, this decline limits the effectiveness of the mechanism through which Strategy raises funds to expand its Bitcoin reserves.

Criticism of the model intensified following recent comments from Ripple CEO Brad Garlinghouse, who questioned the sustainability of the strategy of financing through debt and the issuance of new capital. According to him, such an approach increases risk during deeper market downturns and could create additional pressure on the entire crypto sector.

Long-term Bitcoin Bet Remains Unchanged

Despite mounting questions regarding its financing, Strategy remains the world’s largest corporate holder of BTC and a symbol of aggressive digital asset accumulation.

However, the latest correction in the leading cryptocurrency is putting the model under increased strain. Bitcoin is trading near $60,000, which is nearly 6% lower than levels seen a week ago and significantly below the average price at which the company accumulated the bulk of its reserves.

Nevertheless, some analysts continue to defend the investment thesis. The team at Benchmark Equity Research, for instance, maintains a “Buy” rating on Strategy shares, suggesting that growth potential remains significant if the leading digital asset resumes its upward cycle.

Saylor himself has repeatedly stated that he views short-term dips as opportunities to accumulate rather than reasons to change course. Because of this consistency, his social media activity is closely monitored by investors, as it often precedes a new increase in corporate Bitcoin reserves.