---
title: "Key facts: MicroStrategy $14.5B BTC loss; $371M liquidations; ETFs cool"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285284976.md"
description: "MicroStrategy reported a $14.5 billion unrealized loss in Bitcoin, contributing to a quarterly net loss of $12.5–$12.8 billion following a 23% drop in Bitcoin prices. Despite this, the company raised $11.68 billion year-to-date for Bitcoin purchases. In the crypto derivatives market, $371 million was liquidated in 24 hours, with Bitcoin shorts accounting for over $179 million. ETF inflows have cooled since October, with analysts suggesting that over $500 million in weekly inflows are necessary to counteract long-term holder selling. Ex-Ripple CTO David Schwartz converted proceeds from selling 26 million XRP into Bitcoin, reducing his direct crypto exposure."
datetime: "2026-05-06T00:10:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285284976.md)
  - [en](https://longbridge.com/en/news/285284976.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285284976.md)
---

# Key facts: MicroStrategy $14.5B BTC loss; $371M liquidations; ETFs cool

-   MicroStrategy kept buying Bitcoin as BlackRock and Fidelity ETFs boosted demand; ETF inflows have cooled since October. Analysts say \>$500M weekly inflows needed to offset long-term holder selling.1
-   In 24 hours crypto derivatives saw $371M liquidated; Bitcoin accounted for $179M+, with most liquidated BTC contracts being shorts.2
-   Strategy Inc. recorded an unrealized BTC loss of about $14.5B, driving a quarterly net loss of $12.5–$12.8B after a ~23% Bitcoin drop in Q1; company raised $11.68B YTD for BTC buys.34
-   Analyst Plan C says PMI expansions correlate with BTCUSD cycles. A January 2026 study found strong PMI–BTC return links; PMI above 50 may align with the next BTC upside phase.5
-   Ex-Ripple CTO David Schwartz sold 26M XRP and converted proceeds to Bitcoin. He reduced direct crypto exposure and now holds BTC as a primary long-term asset, per his statement.6

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