Despite $5.1B in Q1 Losses, Michael Saylor’s Firm Continues Aggressive Bitcoin Accumulation.
Strategy, the firm formerly known as MicroStrategy and spearheaded by Bitcoin maximalist Michael Saylor, has added another 1,895 BTC to its growing digital treasure chest. This fresh round of accumulation, made between April 28 and May 4, 2025, came at an average price of $95,167 per coin — totalling a spend of $180.3 million.
This brings Strategy’s total Bitcoin holdings to a staggering 555,450 BTC, currently valued at approximately $52.27 billion. Despite market fluctuations, the firm’s overall Bitcoin position sits at an unrealised gain of $14.18 billion, reinforcing its long-term conviction in the asset.
A Painful Quarter, But Steadfast Strategy
The latest buy comes on the heels of a difficult first quarter for Strategy. The company reported a paper loss of $5.1 billion on its BTC holdings, marking its fifth consecutive quarter in the red. Much of this downturn is tied to BTC’s price swings, particularly when it dipped below $85,000 earlier this year.
Interestingly, Strategy’s recent spree follows a brief three-week buying pause. Once the price dipped, the firm resumed accumulation with renewed intensity — a move consistent with its past behaviour of buying dips, no matter how sharp.
2025 Buying Trends Show Mixed Results
This purchase ranks as Strategy’s second-smallest of the year, following a modest buy of 1,070 BTC on January 6 at an average price of $94,004. While the long-term gains remain positive, several of the firm’s acquisitions between November 2024 and February 2025 are currently underwater. Many of those purchases were made at prices above $95,000, with some even crossing the $100,000 mark.
Nonetheless, Strategy has shown little sign of altering its Bitcoin-first approach. The company continues to double down, viewing short-term drawdowns as opportunities rather than deterrents.
Bitcoin Conference Signals Institutional Optimism
The timing of this latest acquisition is no coincidence. It aligns with the launch of Strategy World 2025, the company’s flagship annual conference, which kicked off today in Orlando, Florida. Alongside it runs the “Bitcoin for Corporations” event, which will host talks from fellow BTC-focused firms such as Semler Scientific and Metaplanet.
The event arrives during a notable market shift. After two months of ETF outflows totalling over $4.5 billion during February and March, U.S. spot Bitcoin ETFs have staged a strong comeback. Nearly $4.1 billion has flowed back into these funds across April and early May, reigniting investor sentiment.