Bitcoin’s biggest believer has stopped.


This week, Strategy filed an SEC document: last week, it sold stocks and didn’t buy any crypto. The company has $3.23B in cash and 843,775 BTC—but its average cost is $75,476 per BTC, while BTC is only $64,599 now. Each one is down more than $10,000, for a total unrealized loss of $9.2 billion.
Since 2020, Saylor has bought every time it drops—this time, he broke the pattern. It’s not that he has no money—he just sold stocks to raise $225 million. It’s that he doesn’t want to buy.
BTC3.59%
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