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As Bitcoin has entered a sharp correction in recent days, attention has once again turned to one of its biggest institutional advocates Michael Saylor and his company Strategy’s massive BTC holdings. Bitcoin falling below $81,000 today has reignited the question of how close the company is to its average cost basis.
MicroStrategy is known for aggressively accumulating Bitcoin even during historic bear markets, which is why every major drop leads investors to ask: “At what price would Saylor start taking a loss?”
Strategy’s Bitcoin Portfolio: Cost Basis, Value, and Profit Status
As of today, Strategy holds a total of 649,870 BTC. At current market prices, the company’s portfolio is valued at $54.24 billion. The most critical metric is the company’s average purchase price: MicroStrategy’s average Bitcoin cost basis: $74,433
Based on this figure, BTC is still trading in the company’s favor. With Bitcoin hovering around $81,000, Strategy is currently:
- 13% in profit
- + $5.86 billion in unrealized gains
However, the accelerating decline and rising volatility show that this level is being approached rapidly.
Performance Gap Between Bitcoin and MSTR Widens
A performance comparison over the past year reveals that Strategy shares have significantly underperformed relative to Bitcoin:
- MicroStrategy stock has fallen 59.02% in the last year
- Bitcoin fell only 15.72% in the same period
- The gap: –43.30 points
This indicates substantial erosion in the company’s market value. Investors highlight that even when Bitcoin does not fall sharply, the company’s stock still experiences major declines.
Saylor Remains Unbothered: “We Could Survive an 80–90% Crash”
Despite the current picture, Michael Saylor remains remarkably calm. In an interview with Fox, he stated that Strategy’s Bitcoin-focused structure is built to survive even massive downturns:
“Strategy could continue operations even through an 80–90% Bitcoin crash.”
Saylor also pointed to Bitcoin’s long-term correction history:
- Bitcoin has experienced 15 major drawdowns in 15 years
- After each correction, it eventually reached new all-time highs
- Sharp pullbacks “wipe out leveraged positions and weak hands”
According to Saylor, Bitcoin’s volatility is steadily decreasing. Annual volatility has dropped from 80% in 2020 to around 50% today. That’s why Strategy remains focused on long-term growth rather than short-term price declines.
The Critical Level for Saylor
If Bitcoin continues its downward trend, there is a clear price level at which Strategy would enter a loss: Critical threshold: $74,433 A drop below this level would technically put the company’s Bitcoin position into the red, but no short-term shift in the company’s strategy is expected. Bitcoin’s historical cycle shows that every major correction is eventually followed by new long-term highs. Strategy’s aggressive BTC accumulation strategy is built entirely on this belief.
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