Strategy's Bitcoin Bet Now $7 Billion Underwater
Strategy's bitcoin holdings are now worth less than their cost
In this article
Strategy's bitcoin bet
Making a bitcoin bet on the cryptocurrency's potential, Strategy's holdings are now worth less than their cost, with the company's 850,364 BTC stash valued at roughly $56.9 billion, leaving an unrealized loss of about $7.2 billion 1.
The company's most recent 8-K filing with the SEC showed that the company held 850,364 BTC as of Nov. 9, bought for an aggregate $64.16 billion 1.
The average purchase price of the bitcoin was $75,456 per coin, fees included, which is higher than the current price of bitcoin 1.
Strategy's bitcoin bet is now $7 billion underwater
Jpmorgan's bitcoin exposure
JPMorgan has increased its holdings of Strategy and Bitcoin ETF, with the bank's latest holdings showing a 36% increase in Strategy shares and a 9.6% increase in Bitcoin ETF shares 2.
The bank's exposure to Bitcoin ETF grew even further in dollar terms, with the reported market value jumping 52% 2.
Meanwhile, JPMorgan also reported smaller positions in other Bitcoin funds, including Grayscale's Bitcoin Mini Trust and Bitwise's Bitcoin ETF 2.
Bitcoin's bipartisan appeal
Experts say Michael Saylor, founder and executive chairman of Strategy, believes Bitcoin is now a bipartisan issue, with the case for holding Bitcoin crossing party lines 3.
Saylor noted that some top lawmakers elected in the midterm elections are now very much behind the Strategic Bitcoin Reserve 3.
Established by a White House executive order in March 2025, it was never able to live up to its initial billing as a potential way for the U.S. government to buy Bitcoin in size 3.
What it means for readers
Strategy's bitcoin holdings are now worth less than their cost, which may impact sentiment 1. The company's stock price could be affected, with MSTR closing at $111.62 on Friday 1. This is down about 22% from its close on Nov. 4 1. The Crypto Fear and Greed Index is at 'Extreme Fear' 1.
Phong Le, Strategy CEO, pushed back on index fears in a CNBC interview 1. He said only about 3% of Strategy's shares are tied to MSCI indexes 1. The company has a U.S. dollar Reserve of $4.77 billion as of Nov. 8 1. This reserve may help mitigate potential losses 1.
Peter Schiff recently questioned Strategy's 12% yield on its preferred stock 1. The company's filing provides context, with a reported USD Reserve 1. Bitcoin's fall below $67,000 deepened the shortfall against Strategy's purchase cost 4. The threshold does not trigger a margin call 4.
What isn't known yet
The current market conditions have led to a significant decline in bitcoin's price, with Strategy's holdings now worth roughly $56.9 billion, leaving an unrealized loss of about $7.2 billion 1. The impact of this decline on the long-term price of bitcoin is uncertain. According to 1, the Crypto Fear and Greed Index printed a reading of 13, or “Extreme Fear,” on Friday night. This fear index may affect investor sentiment.
Following this trend, the company's increased holdings of Strategy and Bitcoin ETF may have a significant impact on the market, but the effect is uncertain 2. The Fed will be watching as the bank reported 848,932 Strategy shares worth $131.3 million at the end of September, a 36% increase from its previous holdings. As noted in 2, policymakers are also aware that JPMorgan disclosed substantial put-option exposure against Strategy and IBIT. This complicated positioning strategy may influence the market.
Since its establishment, lawmakers have been divided, and its impact on Bitcoin's price remains unknown 3. Some top lawmakers elected in the midterm elections back this initiative, with Michael Saylor, founder and executive chairman of Strategy, believing that holding Bitcoin has bipartisan support 3. Its future is uncertain, potentially affecting the bitcoin market.
Frequently asked questions
What is the current price of bitcoin?
The current price of bitcoin is $67,212.00, according to CoinGecko market data (delayed) 6.
How much has Strategy lost on its bitcoin bet?
Strategy has lost approximately $7.2 billion on its bitcoin bet, according to recent filings 1.
What is the Crypto Fear and Greed Index currently at?
The Crypto Fear and Greed Index is currently at 'Extreme Fear', according to recent reports 1.
About this article
Our system reads Bitcoin, Ethereum, crypto markets, regulation and DeFi coverage from established publishers every hour. A story is only written when at least three independent outlets report it. Every figure must appear in a cited source, and each draft passes automated checks for accuracy, originality and readability. Drafts that score highly on every check publish automatically; the rest wait for a human editor. Drafted with AI assistance from the sources listed. Not financial or professional advice.
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- news.bitcoin.com: Saylor’s Strategy Is Now $7 Billion Underwater on Its Bitcoin Bet · Nov 14, 2026 ET
- cryptonews.com: JPMorgan Buys More Strategy and Bitcoin ETF Despite MSCI Saylor Blow · Nov 13, 2026 ET
- The Motley Fool: Strategy's Michael Saylor Says Bitcoin Is Now a Bipartisan Issue That Crosses Party Lines. Here's Why He's Right. · Nov 14, 2026 ET
- The Defiant: Strategy’s Bitcoin Cost Gap Widens to $7.7 Billion · Nov 14, 2026 ET
- 24/7 Wall St.: Michael Saylor’s Entire $64 Billion Bitcoin Pile Is Underwater, So What Happens Next? · Nov 13, 2026 ET
- CoinGecko market data (delayed): Bitcoin and Ether prices at Nov 14, 2026 07:00 ET · Nov 14, 2026 ET
