Strategy Inc. co-founder and executive chairman Michael Saylor revealed that the company recorded $3.9 billion in fair value gains on its Bitcoin holdings during the third quarter of 2025. However, in a notable break from tradition, the firm opted not to make a new Bitcoin purchase despite the cryptocurrency reaching a new all-time high.
Bitcoin BTC$124,872 hit a record $125,000 on Saturday as exchange balances dropped to their lowest levels in six years. Typically, Strategy marks such milestones with new acquisitions, but Saylor announced on X that the company was holding off this time.
No new orange dots this week just a $9 billion reminder of why we HODL, he wrote, referencing the chart that tracks the company’s Bitcoin purchases.
Strategy reports $3.9 billion in unrealized gains in Q3
According to the firm’s latest US Securities and Exchange Commission filing, Strategy posted $3.89 billion in unrealized gains on its digital assets in Q3 2025, alongside a $1.12 billion deferred tax expense. The report listed a $73.21 billion carrying value for its digital assets and $7.43 billion in deferred tax liabilities.
At current prices, the company’s 640,031 BTC holdings purchased at an average price below $74,000 are valued at about $79 billion. The gain underscores the success of Strategy’s aggressive Bitcoin acquisition approach, which has made it the world’s largest corporate holder of the asset.
Saylor pauses Bitcoin buying spree
For years, Michael Saylor has been known for buying Bitcoin during or near its price peaks, earning a reputation as one of its most vocal corporate advocates. His decision to pause buying sparked debate across the crypto community.
One user on X quipped, “Have you understood that buying the high isn’t too smart? Waiting for the dip?” Another commented that “even Saylor needs a breather.”
Despite this short pause, Strategy’s Bitcoin investment remains deeply profitable. Data from BitcoinTreasuries.NET shows the firm’s holdings are up 68% overall, reflecting the resilience of its long-term accumulation strategy amid Bitcoin’s rise past $125,000.