The crypto reserves of the five major listed companies: Trump accelerated his entry at a high level after being elected, and Strategy lost more than $4 billion

Author: Nancy, PANews

At present, more and more listed companies are actively promoting crypto asset reserve plans, especially after Trump won the US election and took power to the White House, this strategy has rapidly heated up around the world and became a new trend in corporate asset allocation. However, with the superposition of multiple factors such as fluctuations in the global economic environment, panic caused by policy uncertainty, and concentrated departure of profitable markets, the crypto market has experienced drastic fluctuations, and many listed companies are in the dilemma of floating losses on the books.

PANews in this article has taken stock of five listed companies that launched crypto reserve plans, which have generally increased their investment after Trump won the election. However, with the obvious pullback in the crypto market, buying at high levels has led to a widespread increase in floating losses. Among them, Strategy's floating loss of Bitcoin holdings during this period exceeded US$4 billion, while the book losses of companies such as Metaplanet, Semler Scientific, and SOL Strategies also reached more than US$10 million, and their stock price performance also experienced roller coaster fluctuations.

**Strategy: Bitcoin holdings have a floating loss of more than US$4

billion, and** the stock price has a high retracement of more than 40%.

Since Trump won the U.S. election on November 6, 2024, Strategy has purchased about 276,000 BTC at an average price of $94,506 per coin, with a total investment cost of $25.679 billion. Based on the current (April 8) Bitcoin price of $79,581, Strategy's Bitcoin holdings currently have a floating loss of about $4.12 billion.

Judging from Strategy's purchasing strategy over this period, it can be clearly observed that its strategic shift from radical expansion to cautious wait-and-see. Specifically, in November 2024, the Bitcoin price was at a high level, and Strategy significantly increased its holdings by more than 134,000 bitcoins, accounting for about 48.7% of the total increase in the period, showing its aggressive market expansion attitude and reflecting strong confidence in the long-term bullish market. After entering 2025, with the Bitcoin price pullback, Strategy adopted a more cautious strategy, significantly reducing purchases and entering a wait-and-see period. However, recently, Strategy showed signs of re-investment, investing nearly $1.92 billion in its latest investment on March 31. But it is worth noting that Strategy did not further increase its holdings of Bitcoin last week, and it still maintains a certain wait-and-see attitude when the market conditions are not yet clear.

In addition, since November 6, Strategy's stock price has soared to $473.8 in the short term, an increase of 83.77%, but has continued to fall. As of April 8, its share price fell about 43.4% from its highs during this period.

Metaplanet: Accelerating **Bitcoin reserves still fall into floating

losses, and stock prices hit record highs for many years**

Since November 6, 2024, Metaplanet has purchased 3,188 bitcoins through 11 share increases, with an average purchase price of US$82,001 and a cumulative expenditure of more than US$260 million. Based on the current (April 8) Bitcoin price of $79,581, it means that Metaplanet's Bitcoin holdings during this period are currently losing about $23.63 million. Since starting to reserve Bitcoin in April 2024, Metaplanet has spent more than US$360 million to purchase 4,206 BTC, indicating that it has significantly increased its reserves of Bitcoin after Trump was elected. However, based on the overall purchase price of $86,500 for Bitcoin, Metaplanet is still floating losses of about $29.09 million.

From the time point of view, since Bitcoin began to decline from its historical high in January, Metaplanet has significantly accelerated its pace of increase in holdings, and has increased its holdings nine times in less than two months, buying a total of about 2,444 BTC, accounting for 58.1% of the total holdings, showing its investment strategy of buying on dips.

It is worth mentioning that this Japanese hotel development and operation company plans to increase its Bitcoin holdings to more than 10,000 by 2025, aiming to be among the top ten Bitcoin holding companies in the world. Meanwhile, during the Bitcoin price fluctuation, Metaplanet has recently fully repayed bonds worth 2 billion yen (US$13.5 million) in advance to consolidate its financial situation.

Judging from the stock price performance, Metaplanet's stock price once rose to 665 yen after Trump was elected, an increase of 216.7%, setting a new high since October 2013. However, as Bitcoin prices fell, its stock price also fell nearly 49.2% from its highs.

Semler Scientific: **Increased Bitcoin at high levels, and stock

price increases are reversing**

Since Trump's election, Semler Scientific has significantly increased its holdings of Bitcoin, increasing its holdings by 2,134 BTC in total, accounting for 66.8% of its current public holdings (3,192 BTC), and the total investment cost is close to US$210 million. However, its Bitcoin purchase strategy shows a clear "high-level takeover" feature: compared with the previous average price of $69,682, the average purchase price during this period is as high as $96,508. Based on the current Bitcoin price of $79,581, the company's book loss has exceeded $36.12 million.

Judging from the stock price performance, Semler Scientific's stock price experienced a brief surge during this period, reaching a maximum of US$74.7, an increase of 86.3%. However, the stock price then fell and all gains were smoothed out, failing to maintain its previous strong performance.

SOL Strategies: **High-level heavy positions are falling by tens of

millions of dollars, and the stock price falls by more than 60% after a new high**

SOL Strategies invested a total of US$29.4 million after Trump was elected, purchasing more than 128,000 SOLs, accounting for 47.9% of its total holdings (267,000 SOLs). However, the timing of purchasing is mostly concentrated at the high prices. For example, on February 3, 2025, SOL Strategies announced the purchase of 40,300 bitcoins, with a cost of US$246; while on January 27, 2025, with a cost of US$365. This high-level buying strategy has resulted in the average buying price of SOL Strategies reaching about $235. Based on the current market price of US$108, its book loss has exceeded US$16.28 million. Despite this, SOL Strategies used more than 265,000 SOLs it held for staking, effectively alleviating some of the losses through staking rewards.

Meanwhile, SOL Strategies' stock price fluctuated violently during this period, soaring 258.8% to $6.1, a record high. However, the stock price then fell sharply, down 65.74% from its highest point.

Remixpoint: **Buy Bitcoin in small quantities at high frequency, with

an average price of up to $96,000**

Japanese listed company Remixpoint has included crypto assets in its strategic reserves starting from 2024, covering BTC, ETH, SOL and XRP, among which BTC is its main purchase asset. Since November 6 last year, Remixpoint has significantly accelerated the pace of BTC's share increase, investing more than US$46 million to purchase 483 BTC, accounting for 78.4% of its total holdings (616 BTC). From the perspective of investment strategy, Remixpoint adopts a high-frequency and small-scale purchase method, and the number of purchases is controlled at dozens of BTC each time, with a maximum of no more than 56.3 pieces per time.

However, Remixpoint's BTC purchase average price is higher, reaching $96,807. Based on the current Bitcoin price of $79,581, the 483 BTC he purchased has lost more than $8.32 million. If estimated at the average overall holding price of about $86,000, Remixpoint's floating loss narrowed to about $3.95 million.

Despite this, Remixpoint's stock price performance during this period was quite impressive, with a maximum surge of about 444% to $806, a record high since October 2018. However, as of April 8, 2025, the stock price has fallen by about 55.5% from its peak.