Michael Saylor's Strategy's BTC losses grow to $6.5 billion

A report from Coindesk says Strategy (MSTR), the world’s largest publicly traded corporate holder of bitcoin, is carrying an unrealized loss of almost $6.5 billion after bitcoin fell back to about $67,000. The company owns 713,502 BTC at an average acquisition price of $76,052, which represents an unrealized loss of roughly 12% relative to that average cost basis.

Shares are down about 13% on the day, marking the largest single-day decline in nearly one year; the stock is down 66% year-over-year and nearly 80% from a record high reached shortly after Donald Trump’s election victory in November 2024. The company reports fourth-quarter earnings after the bell and investors will be watching comments from Michael Saylor.

Despite the drawdown, Strategy continues to trade at a modest premium to the value of the bitcoin on its balance sheet — an mNAV of about 1.09 — which suggests the company could issue common stock to purchase additional bitcoin without diluting shareholders.

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