Strategy Reports Nearly $6B in Unrealized Bitcoin Losses for Q1 2025

Strategy, formerly known as MicroStrategy, reported a staggering $5.91 billion in unrealized losses on its Bitcoin (BTC) holdings for the first quarter of 2025. The drop followed a sharp downturn in the digital asset market, driven by macroeconomic policies.

As a result, the downturn contributed to a 10% decline in the overall cryptocurrency market, shrinking its capitalization to $2.5 trillion. Bitcoin also reached its yearly low, trading around $74,420, according to TradingView data.

Amid this market turmoil, Strategy’s stock, MSTR, also faced significant pressure. The company’s shares fell more than 8% in pre-market trading on Monday, reflecting the broader challenges in the market.

Strategy’s BTC Acquisition and Losses Amid Market Decline

Between March 31 and April 4, Strategy did not acquire any new Bitcoin. This was due to the absence of any patronage for its Class A common stock, MSTR, and its perpetual strike preferred offering, STRK, during that period, as per an 8-K filing with the U.S. Securities and Exchange Commission on Monday.

Despite this, Strategy added 80,715 BTC to its treasury in the first quarter, spending $7.66 billion from its at-the-market equity offering program. The average price per Bitcoin during this period was $94,922.

However, by the end of the quarter, Bitcoin’s price had fallen below $84,000. According to CoinGlass, this 11.82% decline marked the cryptocurrency’s worst quarterly performance since 2018, extending the company’s unbooked losses from the previous quarter.

Strategy’s Bitcoin Holdings Reach 528,185 BTC

As of April 7, Strategy’s total Bitcoin holdings stood at 528,185 BTC. Since 2020, the company has invested about $36 billion in BTC, purchasing the asset at an average price of $67,458.

Notably, the value of its BTC holdings, now worth more than $43 billion, represents nearly 3% of Bitcoin’s total supply. The company’s first-quarter acquisition spree ended with the addition of 22,048 BTC, costing $1.92 billion.

Meanwhile, Tether, the issuer of the USDT stablecoin, increased its Bitcoin reserves by purchasing 8,888 BTC on the last day of Q1 2025. According to Arkham Intelligence data, this purchase brought Tether’s total Bitcoin holdings to 100,521 BTC, valued at approximately $7.84 billion at the current market price.

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