Main Points：
- Aggressive Dip Buying: Michael Saylor’s Strategy has taken advantage of a price dip by purchasing approximately $1.92 billion worth of Bitcoin—22,048 BTC at an average price of about $86,969.
- Record Holdings: The company now holds over 528,000 BTC with a total acquisition cost of approximately $35.63 billion and an average purchase price of $67,458.
- Market Timing Amid Tariff Concerns: This dip buy was executed amid rising market concerns ahead of President Trump’s tariff announcement on April 2, which could potentially affect Bitcoin’s price direction.
- Unrealized Gains and Taxation Risks: According to Saylortracker, Strategy’s Bitcoin holdings currently show over 21% in unrealized gains—exceeding $7.7 billion—which may be subject to corporate taxation under the Inflation Reduction Act.
- Policy Uncertainty: While friendly crypto policies under the Trump administration might offer potential tax relief, the IRS could still decide to tax unrealized gains, as previously reported by the Wall Street Journal.
1. Seizing a Dip in a Volatile Market
Amid heightened market uncertainty driven by looming tariff announcements, Michael Saylor’s Strategy has executed a bold dip buy, acquiring approximately 22,048 BTC for around $1.92 billion. This move comes as concerns over President Trump’s forthcoming tariff policy continue to weigh on investor sentiment, creating an opportune moment for buying during a temporary price correction.
2. Record Holdings and Strategic Positioning
According to a recent X (formerly Twitter) post by Saylor on March 31, Strategy now holds over 528,000 BTC. The company’s total Bitcoin acquisition amounts to roughly $35.63 billion, with an average purchase price of $67,458. Notably, on March 24, Strategy surpassed the milestone of 500,000 BTC held, solidifying its position as the world’s largest public Bitcoin holding company. This latest dip buy reinforces Saylor’s commitment to accumulating Bitcoin as a core asset.
3. Market Timing and Institutional Context
The $1.92 billion purchase was made during a period of increased market anxiety ahead of President Trump’s anticipated tariff announcement on April 2. With the tariff measures expected to target major U.S. trading partners, global risk sentiment has been affected, potentially exerting downward pressure on Bitcoin. However, some market observers see this “dip” as a healthy correction rather than a sign of a bear market.
Data from Saylortracker indicate that Strategy’s Bitcoin holdings have accrued more than 21% in unrealized gains, with the total unrealized profit exceeding $7.7 billion. Despite not having sold any Bitcoin, these gains may attract tax obligations—especially under the framework of the Inflation Reduction Act (IRA), which introduces a 15% corporate tax on adjusted profits. At the end of January, unrealized gains were reported to have reached $19 billion.
4. Taxation and Regulatory Uncertainty
Under the IRA, Strategy could be subject to taxation on its unrealized gains if the alternative minimum tax applies. However, there remains a possibility that a more crypto-friendly policy under a Trump administration might exempt Bitcoin from such taxation, as some industry voices have speculated. This uncertainty adds another layer of complexity to the long-term strategy of accumulating Bitcoin.
5. A Bold Bet Amid Uncertainty
Michael Saylor’s Strategy is making a strong statement with its recent $1.92 billion dip buy of Bitcoin. Amid concerns triggered by potential tariff measures, the company continues to expand its already massive Bitcoin holdings, underscoring its long-term conviction in the asset. While unrealized gains and potential tax liabilities pose risks, Strategy’s aggressive accumulation reflects a bullish outlook that Bitcoin’s price will ultimately recover—and potentially soar—despite near-term market turbulence.
Investors should monitor policy developments and tax regulations closely, as these factors will play a critical role in shaping the future of institutional Bitcoin investments.
