Strategy’s Bitcoin bet swelled by $3.9 billion in unrealized gains last quarter, even as Michael Saylor broke tradition by skipping a fresh BTC purchase.
Strategy Inc. co-founder and executive chairman Michael Saylor said Monday that the company had a massive $3.9 billion fair value gain on its Bitcoin holdings during the third quarter of the year.
On Saturday, Bitcoin (BTC) reached a new all-time high of $125,000 as exchange balances plunged to six-year lows. Saylor’s Strategy, a company known for adding to its Bitcoin stockpile during new price highs, said that it is skipping its BTC purchase this week.
On X, Saylor said that instead of a new Bitcoin buy, the company is highlighting its returns. “No new orange dots this week — just a $9 billion reminder of why we HODL,” Saylor said, sharing a chart where orange dots represented the company’s Bitcoin buys.
According to Saylor’s update, the company holds 640,031 BTC at an average purchase price below $74,000 per coin. The holdings were valued at about $79 billion as of Sunday, based on Bitcoin’s market price.
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Strategy reports $3.9 billion in unrealized gains in Q3
According to the company’s latest US Securities and Exchange Commission filing, Strategy reported $3.89 billion in unrealized gains on its digital assets for the third quarter of 2025, alongside a $1.12 billion deferred tax expense.
Including Strategy’s $5.8 billion gain after the quarter’s cutoff, the company’s total gains reached over $9 billion, the number Saylor cited in his X post.
As of Sept. 30, the firm’s digital asset carrying value stood at $73.21 billion, with related deferred tax liabilities totaling $7.43 billion. The update shows just how dramatically the company’s Bitcoin bet has swelled in value amid the cryptocurrency’s march past $125,000.
For years, the Strategy executive leaned into his reputation as Bitcoin’s most relentless corporate buyer, often making new purchases during or near Bitcoin’s highs.
His company’s pause in buying did not go unnoticed by crypto traders online.
“Have you understood that buying the high isn’t too smart? Waiting for the dip?” an X user wrote, responding to Saylor. Meanwhile, another X user said that everyone “needs a breather” and that Saylor was no exception.
Despite the pause, Strategy’s Bitcoin position remains highly profitable. According to data from BitcoinTreasuries.NET, the company’s Bitcoin investment is up 68% overall, reflecting the strength of its long-term accumulation strategy.
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