Bitcoin at $67K Puts Strategy $5 Billion Underwater

Bitcoin

Saylor’s firm holds 761,068 BTC at an average cost of $75,696 – 9.1% above current market price – as short-term technicals flash oversold.

Key Takeaways:

Strategy holds 761,068 BTC – roughly 3.6% of Bitcoin’s total supply – acquired at an average cost of $75,696 per coin.
With Bitcoin at ~$67,848, the firm’s unrealized loss stands at approximately $5.25 billion, or -9.1% below its cost basis.
Short-term technicals are deeply oversold: RSI at 26.62, MACD firmly negative – though no reversal signal has emerged yet.
Saylor posted defiantly on social media Sunday evening, signaling no change to the firm’s long-term accumulation strategy.

Strategy led by Executive Chairman Michael Saylor, is sitting on an unrealized loss of approximately $5.25 billion as Bitcoin trades near $67,848 – roughly 9.1% below the firm’s average acquisition price of $75,696 per coin.

The company holds 761,068 Bitcoin – acquired across 103 separate purchase events – now carries a total reserve value of $52.36 billion at current market prices, down from a peak of well over $70 billion when Bitcoin traded near all-time highs above $100,000 in late 2024 and early 2025.

Saylor posted on X on Sundaya chart from StrategyTracker.com showing the full history of the company’s Bitcoin purchases, captioned simply, “The Orange March Continues.”

Technical Picture Flashes Warning Signs

Short-term technical indicators paint a bearish picture. The selloff accelerated sharply on Saturday, March 21, with price action gapping lower before consolidating near session lows.

Relative Strength Index (RSI-14) fell to 26.62, well within oversold territory, while the signal line is at 40.37, a significant divergence that illustrates the recent move’s speed. The MACD line at -37.21, the signal at -88.83, and the histogram at -126.04 are all in negative territory according to the Moving Average Convergence Divergence (MACD). There is currently no indication of a bullish crossover.

Analysts warn that momentum indicators may remain suppressed for prolonged periods during prolonged downtrends, especially in thin weekend trading conditions, even though oversold RSI readings may precede brief relief rallies.

Saylor’s Long Game vs. the Drawdown

Strategy’s Bitcoin acquisition strategy, which Saylor has described as a “permanent capital” approach, has made the company the world’s largest publicly listed holder of Bitcoin. The company continued purchasing through multiple market cycles, raising capital through equity offerings and convertible notes to fund ongoing accumulation.

The current drawdown represents one of the more significant unrealized losses the company has faced since its first major purchase of approximately 21,454 Bitcoin at around $11,000 per coin in August 2020. Despite this, Strategy’s overall position remains profitable on a cost-basis when viewed across the full holding period, given the scale of early purchases at far lower prices.

However, recent purchases have been made at substantially higher price points – with several acquisition tranches executed above $90,000 and $95,000 per coin during the late-2024 and early-2025 bull run – meaning a significant portion of the total stack carries meaningful unrealized losses at current prices.

Strategy’s 761,068 BTC position represents approximately 3.6% of Bitcoin’s total 21 million coin hard cap.

Market Context

Bitcoin’s decline is occurring in a time of wider adjustments about risk in the financial markets as we enter into the last week of March. In addition to overall economic challenges related to uncertainty at the Federal Reserve, the strength of the US dollar, and declining investors‘ willingness to take risks within cryptocurrency markets, these macroeconomic factors have all contributed negatively to all digital assets in general during this month so far.

Bitcoin is now down approximately 32% from its all-time high of approximately $109,000 reached in January 2025, though it remains up sharply from the sub-$30,000 levels seen during the 2022-2023 bear market trough.

Market participants will follow Strategy’s $75,696 average cost basis. A sustained recovery above that level would return the company’s position to a paper profit. Analysts note that Saylor has shown no indication of selling under any market conditions, a stance that provides some insulation from forced liquidation risk – provided the company can continue to service its debt obligations, which are backed in part by Bitcoin-collateralized instruments.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

Author

Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.