Bitcoin’s most loyal corporate bull just took a breather. Michael Saylor’s Strategy, the firm that’s been stacking BTC for years, paused all new Bitcoin purchases between March 31 and April 6, according to a recent SEC filing.

It’s a rare move from a company known for buying Bitcoin through thick and thin—and it’s raising eyebrows across the crypto community.

A Pause from the King of Bitcoin Accumulation

Strategy still holds a massive 528,185 BTC, making it one of the largest corporate holders of Bitcoin in the world. But even Saylor’s firm isn’t immune to the market rollercoaster.

As of Q1 2025, Strategy is sitting on $5.91 billion in unrealized losses, reflecting just how brutal the recent downturn has been—even for the most committed HODLers.

So why the pause? Timing seems to point to the fallout from Trump’s latest tariff moves, which triggered a global market sell-off.

Trump’s Tariffs Spook the Market

On April 2, Trump rolled out sweeping 10% tariffs on most imported goods. Then, on April 7, he upped the ante—threatening to raise tariffs on Chinese imports from 34% to 50% unless Beijing backs off.

While Trump’s messaging was full of bravado—

“Be strong, courageous, and patient, and GREATNESS will be the result.”
—investors weren’t feeling inspired. Stocks slid, and Bitcoin fell below $80K, wiping out much of its post-election surge.

Even Wall Street Allies Are Concerned

Billionaire Bill Ackman, usually quiet on crypto, weighed in on the broader market damage:

“It does not help our country’s and our president’s negotiating position to be trying to strike deals while our market is collapsing.”

He didn’t hold back:

“Whoever is recommending that idea… should be fired now.”

Is This Just a Pause—or the Start of a Shift?

Strategy hasn’t flipped bearish, but it’s clear the firm is being more cautious in the short term. Whether it’s a strategic pause or the beginning of a more defensive play remains to be seen.

But one thing’s clear: even the biggest institutional crypto bulls are watching global markets closely—and adapting.

With rising geopolitical risk, growing recession fears, and volatile price action, this might be a moment for reflection—not accumulation.