Michael Saylor is doubling down on Bitcoin despite renewed market weakness and massive unrealized losses, calling the asset “on sale” after a fresh price pullback.
The Strategy executive made the remark after Bitcoin slipped below $63,000 overnight before recovering above $64,000. The drop followed the company’s latest Bitcoin purchase, in which Strategy acquired 592 BTC for approximately $39.8 million at an average price of about $67,286 per coin.
With that purchase, Strategy now holds 717,722 BTC acquired for roughly $54.56 billion at an average cost of around $76,020 per Bitcoin. With Bitcoin currently at $64,227, the company remains significantly below its average cost basis, carrying over $8 billion in unrealized losses. However, these are paper losses and will not actually become a thing unless Strategy sells Bitcoin.
Buying Despite $8 Billion in Paper Losses
Despite massive paper losses, Strategy has continued to accumulate Bitcoin during both rallies and downturns. The company has consistently added to its holdings since launching its Bitcoin treasury strategy in 2020, becoming the largest corporate holder of the digital asset.
The latest dip marks another test of conviction. Bitcoin has had two sharp downturns since the weekend. The $65,000 support was lost on Sunday, and the crypto fell further down below $63,000 this morning amid broader market uncertainty and risk-off sentiment. The decline weighed on other major cryptocurrencies and pulled Strategy’s Bitcoin paper losses deeper into the $8 billion range.
Additionally, many analysts and investors forecast even lower price targets for Bitcoin in the near term, with projections as low as $50,000. Spot trading volumes have thinned, ETF flows have fluctuated, and macroeconomic uncertainty has kept risk appetite in check. While Bitcoin has recovered above $64,000, it remains below recent highs. The asset’s volatility continues to test both retail traders and institutional holders.
For Saylor and other long-term Bitcoin holders, however, lower prices represent opportunity rather than risk.
Saylor’s Long-Term Bitcoin Bet
Saylor has repeatedly stated that Strategy views Bitcoin as a long-term treasury reserve asset rather than a short-term trade. The firm has funded many of its purchases through equity offerings and convertible debt, allowing it to expand its holdings even during volatile periods.
His “on sale” comment reflects a broader belief among Bitcoin advocates that current price levels are temporary within a longer upward cycle. Rich Dad Poor Dad author Robert Kiyosaki holds a similar view and has repeatedly stated that now is the best time to buy Bitcoin, citing fears of a US dollar crash.
Despite his huge $8 billion unrealized losses, Saylor says Strategy can cover its debt obligations even if Bitcoin crashes to $8,000. Arkham analysts further corroborated this in a report that explained how Strategy’s optional dividend payments on stock options and plans to equitize its convertible debt can keep the firm afloat.
Saylor’s confidence is intact for now. Strategy appears committed to treating pullbacks as buying opportunities rather than exit signals. Nevertheless, as Bitcoin stabilizes above $64,000, the market will keep an eye out to see whether further dips trigger additional accumulation or deeper corrections.
The CoinRemark Team
Temitope Olajide
