Strategy’s Bitcoin stash still up over $7B despite market downturn

Software intelligence firm turned Bitcoin investment behemoth Strategy remains $7.8 billion in profit on its Bitcoin holdings despite the cryptocurrency’s recent drop to $80,000.

On March 10, Bitcoin (BTC) recorded its largest weekly decline on record, shedding more value in the past seven days than at any other time in its trading history. Cointelegraph Markets Pro data shows that BTC went from $93,379 on March 3 to a low of $80,610 on March 10, a 13.6% drop in Bitcoin prices in one week. At the time of writing, Bitcoin had recovered slightly to trade at around $82,000. 

Despite the market downturn, Michael Saylor’s Strategy remained ahead on its BTC purchases. The company held 499,096 BTC, purchased at an average of $66,423 per token. In total, Strategy has spent $33.1 billion on Bitcoin purchases, while its holdings are now valued at $41.2 billion — a 24% unrealized gain even amid the correction.

Strategy’s Bitcoin investments highlight the importance of the dollar-cost averaging tactic in investing. Instead of buying at a lump sum, the company divided its BTC purchases at different times and continued to buy the tokens despite the prices.