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Michael Saylor’s Strategy bought nearly $2 billion of Bitcoin, taking advantage of a recent price dip despite growing market concerns tied to US President Donald Trump’s upcoming tariff announcement.
Strategy, formerly MicroStrategy, acquired 22,048 Bitcoin (BTC) for $1.92 billion at an average price of $86,969 per Bitcoin.
The company now holds over 528,000 Bitcoin acquired for $35.63 billion at an average price of $67,458 per BTC, announced Saylor, the co-founder of Strategy, in a March 31 X post.
Strategy is the world’s largest corporate Bitcoin holder and surpassed the 500,000 Bitcoin holdings milestone on March 24, days after Saylor hinted at an upcoming Bitcoin buy as the company announced the pricing of its latest tranche of preferred stock on March 21.
The firm is currently up over 21% on its Bitcoin holdings with an unrealized profit of over $7.7 billion, according to Saylortracker data.
Strategy’s near $2 billion dip buy comes despite investor concerns related to Trump’s upcoming tariff announcement on April 2, which may set the tone for Bitcoin’s price trajectory throughout the month.
Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur Hayes
The April 2 announcement is expected to detail reciprocal trade tariffs targeting top US trading partners, a development that may increase inflation-related concerns and limit demand for risk assets like Bitcoin.
“This sell-off isn’t the end of the bull run — it’s a healthy reset,” Andrei Grachev, managing partner of DWF Labs, told Cointelegraph. “Markets overreact to tariffs and macro headlines, but long-term fundamentals haven’t changed.”
Related: Crypto debanking is not over until Jan 2026: Caitlin Long
MicroStrategy may owe taxes on unrealized Bitcoin gains
Despite never selling any Bitcoin, Strategy may have to pay taxes on its unrealized gains of over $7.7 billion, which had previously soared to $19 billion at the end of January, Cointelegraph reported.
The firm may have to pay federal income taxes on its unrealized gains, according to the Inflation Reduction Act of 2022.
The act established a “corporate alternative minimum tax” under which Strategy would qualify for a 15% tax rate based on the adjusted version of the company’s earnings, according to a Jan. 24 report in The Wall Street Journal.
Still, the US Internal Revenue Service (IRS) may create an exemption for BTC under Trump’s more crypto-friendly administration.
Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29
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