Strategy Reports $5.91 Billion in Unrealized Bitcoin Losses for Q1 2025
In its first-quarter 2025 filing, Strategy (formerly known as MicroStrategy) revealed a significant $5.91 billion in unrealized losses on its Bitcoin holdings, reflecting the downturn in digital asset markets driven by macroeconomic policies.
The company’s Bitcoin treasury has suffered as the cryptocurrency market experienced a steep decline during the period.
Bitcoin Holdings and Strategy’s Investment Approach
During the first quarter, Strategy continued to expand its Bitcoin treasury, purchasing 80,715 BTC for $7.66 billion through its at-the-market equity offering program. Despite acquiring Bitcoin at an average price of $94,922, the cryptocurrency saw a sharp decline, closing below $84,000, marking a significant 11.82% drop in the value of Bitcoin during the quarter. This decline represents the worst quarterly performance for Bitcoin since 2018.
The company did not make any new Bitcoin purchases between March 31 and April 4 due to a zero patronage for its Class A common stock (MSTR) and its perpetual strike preferred offering (STRK) within that timeframe, as disclosed in an 8-K filing with the U.S. Securities and Exchange Commission (SEC).
Total Bitcoin Holdings and Long-Term Investment Strategy
As of April 7, Strategy holds a total of 528,185 BTC. Since 2020, the firm has spent roughly $36 billion accumulating its Bitcoin holdings, with an average purchase price of $67,458 per coin. The Bitcoin reserves, currently valued at more than $43 billion, make up nearly 3% of Bitcoin’s total supply of 21 million coins.
In the first quarter of 2025, Strategy concluded its Bitcoin buying spree with an additional 22,048 BTC purchased for $1.9 billion, further solidifying its position as one of the largest corporate holders of Bitcoin.
Despite the market volatility, Strategy’s commitment to Bitcoin remains unchanged as it continues to focus on long-term growth in its digital asset treasury.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
