In a surprising move, Michael Saylor’s company, Strategy, has temporarily halted its routine Bitcoin acquisitions, signaling a potential shift in institutional sentiment as market volatility intensifies due to escalating global trade tensions.
According to an SEC filing dated April 7, Strategy made no Bitcoin purchases between March 31 and April 6—a rare deviation from its usual accumulation strategy.
A Break in Momentum for Bitcoin’s Most Notable Corporate Holder
Since 2020, Strategy has built a Bitcoin war chest of 528,185 BTC, positioning itself as a leading voice in the institutional crypto narrative. Under Saylor’s leadership, the company became a symbol of Bitcoin as a corporate treasury asset.
However, the Q1 filing shows the company is now sitting on $5.91 billion in unrealized losses, highlighting how deeply the current downturn has impacted even long-term holders.
This pause follows a sharp 10% drop in Bitcoin’s price, triggered by President Trump’s tariff escalation and broader concerns over financial instability.
Tariffs Shake Markets—and Confidence in Risk Assets
Trump’s April 2 announcement of sweeping 10% tariffs on most foreign goods spooked global markets. The situation escalated on April 7, when the administration threatened to raise tariffs on Chinese goods from 34% to 50% if no concessions are made.
Trump took to X, saying:
“Be strong, courageous, and patient, and GREATNESS will be the result.”
But the financial markets responded with alarm. Equities fell, and Bitcoin slipped below $80,000, erasing much of its 2025 rally.
Growing Dissent on Wall Street
High-profile investor Bill Ackman publicly criticized the administration’s approach, warning that the timing of the aggressive trade tactics could undermine U.S. markets and investor confidence.
“Whoever is recommending that idea to President @realDonaldTrump should be fired now,” Ackman posted.
What It Means for Strategy—and Bitcoin’s Future
While Saylor’s Strategy hasn’t abandoned its bullish stance, the pause in purchases suggests a temporary reassessment as uncertainty builds. It’s the first sign that even the most steadfast institutional Bitcoin holders are adapting their strategies in response to macro risks.
Whether this is a short-term adjustment or a broader institutional pullback remains to be seen, but it underscores the challenges crypto faces in a world of rising protectionism and financial stress.
