5 publicly traded companies that bought Bitcoin at a high price: Strategy MicroStrategy has an unrealized loss of over 4 billion USD.

Take stock of 5 publicly traded companies that have launched crypto reserve programs that have generally increased their investments since Trump won the election. However, with the obvious correction in the crypto market, high buying has led to a general increase in floating losses. Among them, Strategy's Bitcoin holding floating loss during this period has exceeded $4 billion, while Metaplanet, Semler Scientific, SOL Strategies and other companies have book losses of more than $10 million, and stock price performance has also experienced roller coaster fluctuations. (Synopsis: Bitcoin pullback 32% Is "the company that bought BTC as a reserve" still alive? The Future Concerns of the Micro Strategy Imitation Tide) (Background Supplement: MSTR Confirms Bitcoin's Successful Model: How Can Other Listed Companies Imitate BTC Reserve Strategies? At present, more and more listed companies are actively pursuing crypto asset reserve plans, especially after Trump won the US election and took power in the White House, this strategy has rapidly heated up globally and has become a new trend in corporate asset allocation. However, with the fluctuation of the global economic environment, the panic caused by policy uncertainty, and the concentrated exit of profit orders, the crypto market has experienced sharp fluctuations, and many listed companies have fallen into the dilemma of floating losses on the books. Strategy: Bitcoin position floating loss of more than $4 billion, stock price high drawdown of more than 40% Since Trump won the US election on November 6, 2024, Strategy has purchased nearly 276,000 BTC at an average price of $94,506 per coin, with a total investment cost of $25.679 billion. Based on the current (April 8) Bitcoin price of $79,581, Strategy's Bitcoin position is currently losing about $4.12 billion. From the perspective of Strategy's buying strategy during this period, it can clearly observe its shift from aggressive expansion to cautious wait-and-see strategy. Specifically, in November 2024, when the price of Bitcoin was at a high stage, Strategy aggressively increased its holdings by more than 134,000 BTC, accounting for about 48.7% of its total holdings during the period, demonstrating its aggressive market expansion attitude and strong confidence in the long-term bullish market. Entering 2025, as the Bitcoin price pulls back, Strategy has adopted a more cautious strategy, significantly reducing purchases and entering a wait-and-see period. Recently, however, Strategy has shown signs of regaining its weight, investing nearly $1.92 billion in its latest investment on March 31. However, it is worth noting that Strategy did not further increase its holdings in bitcoin last week, maintaining a certain wait-and-see attitude in the absence of market clarity. In addition, since November 6, Strategy's stock price has soared to $473.8 in the short term, an increase of 83.77%, but then continued to retreat. As of April 8, its shares were down about 43.4% from their highs during the period. Metaplanet: Accelerating Bitcoin Reserves Still in Losses, Stock Price Hit Multi-Year High Since November 6, 2024, Metaplanet has purchased 3,188 BTC through 11 overweights, with an average purchase price of $82,001 and cumulative spending of more than $260 million. Based on the current (April 8) Bitcoin price of $79,581, this means that Metaplanet's Bitcoin positions during this period are currently losing about $23.63 million. Since it began to reserve bitcoin in April 2024, Metaplanet has spent more than $360 million to buy 4,206 BTC, indicating that it has significantly increased its reserves of bitcoin after Trump's election. However, based on the overall average purchase price of $86,500 for Bitcoin, Metaplanet is still losing about $29.09 million. From the perspective of time nodes, since Bitcoin began to decline from its all-time high in January, Metaplanet has significantly accelerated the pace of overweighting, making 9 increases in less than 2 months, buying a total of about 2444 BTC, accounting for 58.1% of the total holdings, showing its bargain-hunting investment strategy. It is worth mentioning that the Japanese hotel development and operation company plans to increase its bitcoin holdings to more than 10,000 by 2025, aiming to become one of the top ten bitcoin holders in the world. Meanwhile, Metaplanet recently repaid 2 billion yen ($13.5 million) worth of bonds in full and ahead of schedule to strengthen its finances during the bitcoin price turmoil. In terms of stock price performance, Metaplanet's share price rose to 665 yen after Trump's election, an increase of 216.7%, a new high since October 2013. However, as the price of Bitcoin fell, its share price also fell by almost 49.2% at its high. Since Trump's election, Semler Scientific has significantly increased its holdings of bitcoin, accumulating 2,134 BTC, accounting for 66.8% of its current total public holdings (3,192 BTC), with a total input cost of nearly $210 million. However, its bitcoin acquisition strategy showed a clear "high takeover" characteristic: compared to the previous average price of $69,682, the average buying price during this period was as high as $96,508. At the current Bitcoin price of $79,581, the company's book loss is more than $36.12 million. In terms of stock price performance, Semler Scientific's stock price experienced a brief surge during this period, reaching a maximum of $74.7, an increase of 86.3% at one point. However, the share price then retreated, and all gains were erased, failing to maintain the previous strong performance. SOL Strategies: High position floating loss of tens of millions of dollars, stock price fell more than 60% after a new high SOL Strategies invested a total of $29.4 million after Trump's election, buying more than 128,000 SOL, accounting for 47.9% of its total position (267,000 SOL). However, the timing of its purchases is mostly concentrated at high prices. For example, on February 3, 2025, SOL Strategies announced the purchase of 40,300 BTC at a cost of $246; The purchase of 19,100 BTC on January 27, 2025 cost a whopping $365. This buy high strategy resulted in SOL Strategies' average bid price reaching around $235. At the current market price of $108, its book loss is more than $16.28 million. Nevertheless, SOL Strategies staked more than 265,000 SOLs in its holdings, effectively mitigating some of the losses through staking rewards. At the same time, SOL Strategies' stock price was volatile during this period, soaring at one point 258.8% to $6.1, a record high. However, then...