Michael Saylor’s Latest Bitcoin Purchase Underwater

Strategy’s recent Bitcoin BTC $92 793 24h volatility: 1.3% Market cap: $1.85 T Vol. 24h: $123.93 B purchase has raised concerns about the health status of the company’s financial portfolio.

Blockchain analytics platform CryptoQuant pointed out that the acquisition announced on November 17 by Michael Saylaor, the executive chairman of the business intelligence and software firm, suggests that the portfolio may be in the red.

Is Saylor’s Bitcoin Portfolio in the Red?

On November 17, Michael Saylor announced Strategy’s acquisition of 8,178 BTC at an average price of $102,171.

This brought the company’s total Bitcoin holding to 649,870 BTC, with a BTC Yield of 27% Year-to-date (YTD).

Considering that Bitcoin is currently trading at $91,149.70, the quoted price of purchase is about 10% above current market levels.

The situation has raised concerns that Strategy is not doing as well as it says. CryptoQuant said this outlook means that roughly 40% of Strategy’s 649,870 BTC holdings are in the red, with only 60% still in profit. No official comments have been made by Saylor or Strategy on this matter.

Meanwhile, the recent purchase further highlights the company’s commitment to acquiring more Bitcoin.

It was recently rumored that Strategy was offloading its massive stash, but Saylor made a cryptic post on X in response.

He wrote “HODL,” suggesting that the Bitcoin treasury firm is holding strong to its holding.

Where Is the Hope for Bitcoin?

Bitcoin has dipped further than its level as of 24 hours ago, reflecting more struggle in the coin’s ability to overcome the broader crypto bear market.

The BTC price has declined by almost 15% within the last 7 days. The top digital asset is currently trading at $91,333.01 while its market capitalization has plummeted to $1.82 trillion.

Market experts have mentioned that the coin is obviously showing intense fragility. Popular crypto analyst Ted Pillows noted that Bitcoin is still in a Wyckoff distribution phase, signaling continued corrective pressure in the market.

He went on to say that the $88,000-$90,000 range represents a notable support zone that could serve as a potential local bottom if selling eases.

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