TLDRStrategy’s Bitcoin holdings remain profitable despite Bitcoin’s recent price drop below $92,000.The company’s average purchase price for Bitcoin is significantly lower than the current market price, providing a cushion against volatility.Despite market fluctuations, Strategy continues to accumulate Bitcoin and dismisses the idea of selling during market stress.The CryptoQuant uPnL chart shows that Strategy’s holdings have remained in profit even after past market crashes.Prediction markets are pricing in a further Bitcoin price decline, but Strategy’s Bitcoin strategy remains unchanged.Bitcoin’s recent drop below $92,000 has raised concerns about the sustainability of Michael Saylor’s BTC holdings under the Strategy. Despite the price decline, a CryptoQuant chart shows that the Strategy’s holdings remain in profit, even after multiple market crashes. The company has maintained an aggressive Bitcoin accumulation strategy, dismissing volatility as a temporary concern. However, recent developments are testing investor confidence.Strategy’s Bitcoin Holdings Remain Profitable Despite Market DeclineCryptoQuant’s unrealized profit and loss (uPnL) chart, which tracks Strategy’s Bitcoin position since 2020, paints a positive picture. Despite Bitcoin’s recent price drop of over 13% in the past week, Strategy’s holdings still show substantial unrealized gains. The chart shows persistent green bars, indicating that the company’s Bitcoin bet remains profitable even through multiple market dips.During past crashes, such as in 2021 and 2022, there were brief periods of unrealized losses, marked by red zones on the chart. However, these losses were short-lived and quickly reversed. “The company’s average purchase price for Bitcoin is well below the current market price, giving them a significant cushion against volatility,” said an industry analyst.Even with the ongoing sell-off, Strategy continues to hold and accumulate Bitcoin. Michael Saylor has made it clear that his company will not sell its Bitcoin holdings, despite market fluctuations. “Bitcoin is an exponential treasury asset,” Saylor stated. He believes that, in the long run, Bitcoin will outperform other assets, including gold.Bitcoin’s Decline Raises Concerns Over Sell-Off RisksBitcoin has fallen by more than 16% over the past six months, and recent price action is testing investors’ resolve. The current market downturn has heightened fears among traders. Recent events, including the movement of Bitcoin from the Mt. Gox wallet to Kraken, have sparked rumors of further sell-offs, adding to market uncertainty.The sell-off has contributed to increased volatility and growing concerns about Strategy’s balance sheet. While the company’s BTC holdings are still in profit, the broader market remains under pressure. Prediction markets are now pricing in the possibility of Bitcoin dropping below $80,000, with odds increasing to 38%.The post Bitcoin Price Drop Tests Strategy BTC Holdings, But Gains Persist appeared first on Blockonomi.