Saylor signals more Bitcoin buys despite $14.5B loss

Michael Saylor posted Strategy’s Bitcoin purchase-history chart on Sunday with the caption “Think bigger,” indicating further purchases even as the company reports large paper losses. The firm’s most recent disclosed buy was April 6, when it acquired 4,871 BTC for more than $329.8 million, bringing holdings to 766,970 coins.

Strategy, based in Tysons Corner, Virginia, had a BTC reserve valued at about $54.5 billion at market prices at the time of publication. The company reports an average acquisition cost of $75,644 per coin and disclosed roughly $14.5 billion in unrealized losses on its Bitcoin holdings for the first quarter of 2026 in an SEC filing.

Strategy continued to add Bitcoin during a market downturn that pushed prices to two-year lows and left its treasury below the average purchase price. In March the company added 46,233 BTC while miners produced about 16,200 BTC, a pace of accumulation nearly three times newly mined supply. Some analysts have forecast a potential supply squeeze if the trend continues.

The company remains the largest corporate Bitcoin holder with 766,970 BTC. The next-largest corporate treasury is held by Twenty One Capital with 43,514 BTC. MARA Holdings sold 15,133 BTC in March for about $1.1 billion to repurchase roughly $1 billion of zero-coupon convertible notes at a discount. MARA’s chairman and CEO, Fred Thiel, described the transaction as improving the company’s “financial flexibility” and increasing “strategic optionality” as MARA expands beyond mining into digital energy and AI/HPC infrastructure.

Strategy’s publicly disclosed trades and the SEC filing provide a record of its accumulation activity and current exposure.