With Bitcoin plunging and its paper valuation loss topping $13 billion, Strategy has reaffirmed it will maintain its Bitcoin-focused treasury strategy. The company is expanding reserves and buying more Bitcoin as part of its long-term plan.

U.Today, a blockchain media outlet, reported on June 26 that Strategy Chairman Michael Saylor (마이클 세일러) said the company's Bitcoin-focused strategy would not change even as market volatility increases.

“Volatility tests every capital structure,” Saylor said, describing current conditions as a process of verifying a company’s capital management capabilities rather than a short-term shock. “Strategy remains focused on Bitcoin, disciplined capital allocation, credit quality, and long-term value creation,” he said. “We will continue to execute our existing strategy with transparency and resolve,” he added.

Market anxiety has increased as Bitcoin has plunged. Bitcoin fell as low as $58,000 intraday on June 26, its lowest level since October last year. That is down about 52 percent from last year’s peak of $126,000.

Bitcoin has tried to rebound this year after finding support multiple times around $60,000. Buying interest emerged at the same level in February and in early June, lifting it to $67,000, but selling pressure increased again and the downtrend continued. As of the time of writing, Bitcoin was trading at $59,729, down about 3.95 percent over 24 hours and down 4.16 percent on the week.

The price decline has also sharply increased Strategy’s paper valuation loss. The current loss is estimated to exceed $13 billion. Even so, the company is maintaining its buying stance.

Strategy has raised funds aggressively since 2020 to accumulate Bitcoin. Its cumulative holdings have reached 847,363 BTC, making it the listed company with the largest Bitcoin holdings in the world.

The company recently bought 520 more bitcoins for $35 million. It also increased cash reserves by $300 million to a total of $1.4 billion. The company said it plans to continue building reserves to maintain the creditworthiness of its digital credit securities.

The market has offered mixed assessments of Strategy’s approach. Positive views see the current valuation loss as temporary and expect it could turn into substantial gains if Bitcoin re-enters an upward cycle. Saylor is also continuing purchases based on confidence in Bitcoin’s long-term value.

On-chain analytics firm CryptoQuant called for a more cautious approach. CryptoQuant suggested Strategy should focus on rebuilding reserves for the time being rather than making new purchases, and that it should adjust buying timing to market conditions instead of buying Bitcoin immediately whenever it raises funds.

Market attention is focused on whether Bitcoin can recover the $60,000 level to ease further downside pressure, and whether Strategy can continue its current financial strategy of expanding reserves while buying more Bitcoin.

Saylor made clear that the company’s long-term Bitcoin strategy remains unchanged even in a more volatile market. Strategy is increasing reserves while buying more Bitcoin, drawing attention to what results its approach will deliver alongside Bitcoin’s price moves.

Volatility tests every capital structure. Strategy remains focused on Bitcoin, disciplined capital allocation, credit quality, and long-term value creation. We appreciate our investors and will continue to execute with transparency and resolve. $MSTR