The big Bitcoin hoarder’s ledger has turned red for the first time in nearly three months.

On November 9, Bitcoin Treasuries noted that after Bitcoin fell below around $75,000, Strategy (formerly MicroStrategy) saw its Bitcoin holdings turn to an unrealized loss for the first time in nearly three months. The company updated its public ledger that same day: as of November 9, it held approximately 850,364 bitcoins, at an average cost of around $75,456 each, for a total acquisition cost of about $64.17 billion. It also added 1,036 bitcoins that day, at an average purchase price of around $79,012 each. In other words: the price had just fallen below its cost basis, yet the company had added another thousand-plus bitcoins to its holdings.

This isn’t a forced liquidation. The company treats Bitcoin as a long-term reserve, and falling below its average cost doesn’t in itself trigger any clause requiring it to sell coins. Nor will it automatically sell just because its books show a loss; future disclosures should still be verified against the official ledger. Compared with Binance spot prices, Bitcoin was still hovering around $75,000 around dawn on November 10, just a few hundred dollars away from that cost line. The overview chart the previous night showed an unrealized gain of only about 0.2%, but within a day it had flipped to the other side. The figures move with the current price, so if you’re looking to copy the trade, remember: these are figures on paper, not trading signals.

#BTC #Strategy #行情 This does not constitute investment advice