MicroStrategy's investment strategy, led by Michael Saylor, has been a major focus of attention in the cryptocurrency space. The company began buying Bitcoin in 2020 and has since become one of the largest holders of BTC among public companies. However, the recent decline in Bitcoin price has resulted in significant losses for MicroStrategy.
The company's Q1 2026 filing showed that its Bitcoin holdings were down over $14 billion from their peak value. This decline reflects the broader market trend, with Bitcoin prices suffering a notable downturn during this period. Despite these losses, MicroStrategy continued to purchase Bitcoin throughout Q1, adding over 89,000 BTC to its existing stash.
The company's total spend on buying Bitcoin now exceeds $57 billion, with the most recent purchase adding another $329.9 million to its holdings. As of April 6, MicroStrategy's cost basis for each coin stood at $75,644, meaning that its BTC holdings remain underwater as long as the price remains below this level.