Michael Saylor and his company Strategy (formerly MicroStrategy), which is well-known for its massive Bitcoin treasury strategy.
What the claim means
“Unrealized losses” simply means the BTC price is below their average purchase price right now.
It’s not a realized loss unless they sell the coins.
Because Strategy holds long-term, these numbers fluctuate a lot with market cycles.
Context
Historically, their BTC position has swung billions in profit and loss multiple times during bull and bear markets. The narrative often resurfaces whenever Bitcoin dips.
