Michael Saylor's Strategy Snaps Up $1.9B in Bitcoin Despite Market Jitters

Dip-Buying Continues as Strategy Pushes Bitcoin Holdings Past Half a Million

Michael Saylor’s Strategy is doubling down on Bitcoin with a bold $1.92 billion purchase, acquiring 22,048 BTC at an average crypto price of $86,969 per coin. The move pushes the firm’s total Bitcoin holdings past 528,000 BTC—by far the largest stash among any public company. Saylor, Strategy’s co-founder, revealed the purchase in a March 31 post, noting that the firm’s cumulative investment in Bitcoin now stands at $35.63 billion, with an average acquisition cost of $67,458 per BTC.

This latest purchase follows Strategy’s recent milestone on March 24, when it crossed the 500,000 Bitcoin mark just days after teasing a new capital raise through preferred stock issuance on March 21. The timing of the acquisition aligns with a slight market cooldown, which some investors attribute to uncertainty around U.S. President Donald Trump’s upcoming April 2 tariff announcement. 

Despite that, Saylor appears undeterred, reinforcing his long-standing conviction that Bitcoin remains a superior long-term store of value. The firm currently sits on over $7.7 billion in unrealized profit—up more than 21%—according to data from Saylortracker, an analytics site tracking the firm’s Bitcoin exposure.

Market watchers have been on edge over the April 2 announcement, which is expected to introduce a series of reciprocal trade tariffs aimed at top U.S. partners. Traders are bracing for potential inflationary pressure and its spillover effect on risk assets. 

However, some analysts argue that short-term volatility may be masking broader bullish momentum. “This sell-off isn’t the end of the bull run — it’s a healthy reset,” said Andrei Grachev of DWF Labs, adding that macro headlines tend to spark overreactions, even when the underlying fundamentals remain intact. The recent turbulence hasn't dented Bitcoin’s position on the global crypto price index, where it continues to dominate in both volume and market capitalization.

Meanwhile, Strategy’s aggressive accumulation strategy may carry tax consequences. Even though the firm has never sold any of its Bitcoin holdings, it could face federal income taxes on its more than $7.7 billion in unrealized gains. Under the Inflation Reduction Act of 2022, corporations like Strategy are subject to a 15% corporate alternative minimum tax, calculated on an adjusted earnings basis. 

According to a Wall Street Journal report from January, Strategy would qualify under this rule, potentially triggering a new tax liability. However, speculation is mounting that the Internal Revenue Service may revise its stance—particularly if Trump, known for his pro-crypto policy leanings, secures another term and retools federal tax guidance.

With Bitcoin’s coin market cap holding strong despite tariff fears and the crypto price fluctuating amid macro headwinds, Strategy’s high-conviction buy sends a clear signal: the firm sees dips as opportunities, not threats. The purchase underscores a broader trend among institutional players, who appear increasingly comfortable navigating market cycles as they bet on Bitcoin’s long-term resilience.

This article has been refined and enhanced by ChatGPT.