Strategy, a company focused on the bitcoin (BTC) treasury, records an unrealized loss of $10.22 billion in its portfolio on June 4, 2026 after a marked drop in the price of the crypto asset.
This negative balance represents the largest accounting devaluation in the company’s history since it began its bitcoin accumulation in 2020.
The sudden devaluation occurred when the price of bitcoin fell to a floor of $61,400although it subsequently experienced a slight recovery that stabilized its price at $63,593 today.
It is worth clarifying that the expression “unrealized loss” means that, although the nominal value of the assets in the market is less than the acquisition cost, the economic loss has not been consolidated because the assets have not been sold.
Due to this price contraction, the corporation’s total investment is currently positioned 16% below its original purchase price. Strategy has a reserve of 843,706 BTC that They have a current market value of $53.65 billion..
The firm built this business position through transactions that totaled $63.87 billion. Said capital invested establishes that The average purchase price for the company is $75,705. for each unit of the currency, a quote that remains above the current price.
Nervousness in the markets worsened after Strategy announced on June 1 the sale of 32 BTC worth $2.5 million to finance the dividends of its STRC preferred shares. This operation constitutes the first divestment of digital assets carried out by the corporation since 2022.
As reported by CriptoNoticias, as a result of this sale, the financial analysis firm BloFin warned that “Strategy’s model with bitcoin suffers from a structural imbalance.” According to the consulting firm’s analysts, the sale destroyed institutional credibility because the company’s founder, Michael Saylor, preached the premise of holding assets publicly in perpetuity.
«What was broken was a promise, not a policy. For years, Michael Saylor preached ‘never sell’, thus becoming the main defender of that conviction,” the consulting firm highlighted in its market report. The analysis adds that this move directly alters expectations of predictability of the cryptoasset ecosystem in general.
As a result of the widespread collapse of bitcoin and the impact on investor confidence, Strategy shares are currently trading at $130. This price is 75% below the firm’s historical maximum on the stock market.which reached $541 on November 18, 2024.
The current situation illustrates the vulnerability of the institutional investment thesis based on the absolute immobility of digital reserves. Faced with a complex macroeconomic panorama, the international financial newsletter The Kobeissi Letter described the seriousness of the current scenario by stating that “to say that we are in a bear market is an understatement.”