The biggest Bitcoin believer has stopped. Strategy filed an SEC document this week: sold stocks last week, didn’t buy crypto. The company has $3.225 billion in cash and 843,775 BTC— but with an average cost of $75,476 per BTC, and BTC is only $64,599 now, they’re losing over $10K per coin, with a total unrealized loss of $9.2 billion. Saylor has been buying every dip since 2020, but not this time. It’s not because they’re out of money—he just sold stocks and got $225 million. He just doesn’t want to buy.