74% of MicroStrategy's Bitcoin Holdings Sit in Loss Territory

Bitcoin's slide into multi-month lows has left plenty of bagholders—both retail and institutional—staring at unrealized losses. Among the wounded, none look quite as bruised as MicroStrategy, the world's largest corporate Bitcoin treasury. The firm is now nursing some of the most sizable paper losses of the cycle.

On Thursday, June 4, a CryptoQuant analyst posted data showing MicroStrategy has tumbled into deep unrealized losses as Bitcoin retests $61,000 for the first time since February. Roughly 74% of the company's 843,706 BTC stack is now underwater. That works out to about 624,342 coins bought above the current price hovering near $61,000. The analyst also shared a chart tracking the share of MicroStrategy's holdings in profit versus loss over time, which shows profitability cratering. Today, only about 26% of the firm's Bitcoin sits in the green, while the remaining 74% is firmly in the red.

Losses aside, chairman Michael Saylor shows no signs of wavering. He has repeatedly doubled down on his bullish conviction in Bitcoin's long-term prospects. Even with BTC down more than 14% over the past seven days, Saylor has reiterated that MicroStrategy will keep stacking sats through both bull and bear markets—because, apparently, the dip was always the plan.