By Isaac • June 26, 2026 2:12 pm •
Strategy’s Bitcoin paper loss has reached roughly $13 billion, according to a June 26 analysis from CoinDesk.
That number is unrealized, because Strategy has not sold Bitcoin to lock in the loss.
The scale is still striking. CoinDesk pointed out that $13 billion is larger than the market value of many well-known crypto tokens.
One company’s underwater position has gotten big enough to compare to whole projects. That is the market-structure problem worth sitting with.
BitcoinTreasuries showed the scale of Strategy’s current Bitcoin position. The live Strategy page listed the company with 847,363 BTC, making it the largest public-company Bitcoin holder in the dataset.
It also listed an average purchase price near $75,652 per BTC
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