Saylor’s playing this hand really tough—despite an unrealized loss of 11 billion on the books, he can still stay calm and preach long-termism; it’s like his “belief” just got topped up.

CoinWorld News reports that Michael Saylor said Strategy’s Bitcoin and USD reserves exceed its debt by $48.0 billion, despite preferred stock trading below par value and facing dividend pressure. Saylor noted that Strategy currently holds approximately 846,842 bitcoins, making it the largest publicly listed company holder of bitcoin, with an average purchase price of about $75,656. Although bitcoin’s recent trading price has been between $62,500 and $63,700, Strategy’s bitcoin holdings face about $11.0 billion in unrealized losses. He emphasized that long-term balance sheet recovery is key: currently, reserves exceed debt by $48.0 billion, a significant improvement over the debt pressure at the end of 2022.