Strategy, Metaplanet and Others Sit on Billions in Bitcoin Gains — and They’re Not Selling

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What to know:

  • Strategy currently holds nearly 600,000 BTC, giving the company a $28 billion unrealized profit at current prices.
  • El Salvador, Metaplanet and Semler Scientific have each made hundreds of millions of dollars in paper gains from their bitcoin investments.
  • Despite the potential profits, many bitcoin holders, including Strategy’s Michael Saylor, say they have no plans to sell.

Well, looky here—bitcoin’s gone and hit a record high of $117,000. And what are the big players doing with all this sweet, sweet digital gold? Sitting on it. Yep, they’re not selling. Imagine having so much money that you could buy an island and still have enough left to purchase a yacht, but instead, you just keep it all in some fancy electronic wallet. Sounds fun, right?

Let’s start with Strategy (MSTR), the software company turned bitcoin hoarder. These folks are sitting pretty with nearly 600,000 BTC tucked away, making an estimated $28 billion in unrealized profit at a price of $117,464. They’ve spent a cool $42 billion to get there, making them the third-largest holder of bitcoin. The only ones who have more? Satoshi Nakamoto and BlackRock. I mean, if you’re going to be outdone, it might as well be by the mysterious creator of bitcoin and an investment behemoth, right?

Now, you might wonder—did they sell any of that bitcoin when it was hitting new highs? Nope. Michael Saylor, the co-founder of Strategy, says they’ll never sell. In fact, during the high roller bitcoin ride yesterday, he took to X and said, “The halls of eternity echo with the cries of those who sold their Bitcoin.” So poetic! So dramatic! So… arrogant? But hey, he’s got the coins to back it up, so who’s laughing now?

And why wouldn’t he gloat? His company’s bitcoin stash is larger than any publicly traded company in the world. Yeah, talk about a flex.

But hold your horses, it’s not just Strategy getting in on the action. Metaplanet, a Japanese company that started stacking BTC like a kid in a candy store in 2024, now owns 15,555 coins worth about $1.83 billion. That’s a tidy unrealized profit of $284 million. Not too shabby for a company that’s just getting warmed up.

El Salvador, the country that decided to go full bitcoin on us and make it legal tender, is also riding the wave. They’ve got 6,234 BTC worth nearly $733 million at today’s prices, giving them a $232 million paper gain. After getting battered in the 2022 bear market, their bitcoin bet is finally paying off. Who knew, huh?

Then we’ve got the smaller fish in this cryptocurrency pond. Semler Scientific (SMLR), which took a page from Strategy’s playbook last year, owns 4,636 BTC and is sitting on $160 million in unrealized gains. And let’s not forget Blockchain Group (ALTBG) from France, holding 900 BTC with a cool $30.5 million in paper gains. Oh, to be them, right?

Now, the real kicker—these companies could cash in their gains anytime. But nope. They’re holding. These folks are what we call “maxis” in the bitcoin world—maximalists who believe in holding their BTC until the end of time (or until it’s worth more than the GDP of a small country). Some might take profits over time, but many, like Saylor, have declared they’ll never sell. Ever. Sounds like a plan, huh? Or maybe just a really long-term commitment.

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2025-07-11 21:40