Strategy Inc. MSTR/USD on Monday revealed $5.91 billion in unrealized losses on its Bitcoin BTC/USD holdings for the first quarter of 2025, according to a recent filing with the U.S. Securities and Exchange Commission.

The sharp downturn comes amid heightened macroeconomic uncertainty and a broader sell-off across digital assets and equities.

What Happened: In a Form 8-K filed Monday, the company disclosed that no additional Bitcoin was purchased between March 31 and April 4, citing lack of participation in its MSTR common stock and STRK preferred share offering during that period.

This marks a rare pause for the Bitcoin-heavy firm, which has been a prominent buyer since 2020.

Despite the volatility, Strategy added 80,715 BTC in Q1, spending approximately $7.66 billion through proceeds from its ongoing equity issuance program.

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The company paid an average price of $94,922 per Bitcoin, though the asset ended the quarter below $84,000 — an 11.82% drop, according to CoinGlass, marking Bitcoin's worst quarterly performance since 2018.

As of April 7, Strategy holds 528,185 BTC, making up nearly 3% of Bitcoin's total 21 million coin supply.

The company's total outlay since 2020 stands at approximately $36 billion, with an average purchase price of $67,458 per Bitcoin. Its holdings are currently valued at over $43 billion.

What’s Next: The losses coincided with the aftermath of last week's “Liberation Day” tariff escalation, which roiled global markets.

Asian stocks sank and cryptocurrency markets shed more than 10% in value over 24 hours, slashing the total market cap to $2.5 trillion.

Strategy's own stock, MSTR, is trading down about 11% in trading on Monday.

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