Michael Saylor’s Strategy bought nearly $2 billion of Bitcoin, taking advantage of a recent price dip despite growing market concerns tied to US President Donald Trump’s upcoming tariff announcement.

Strategy, formerly MicroStrategy, acquired 22,048 Bitcoin (BTC) for $1.92 billion at an average price of $86,969 per Bitcoin.

The company now holds over 528,000 Bitcoin acquired for $35.63 billion at an average price of $67,458 per BTC, announced Saylor, the co-founder of Strategy, in a March 31 X post.

Source: Michael Saylor

Strategy is the world’s largest corporate Bitcoin holder and surpassed the 500,000 Bitcoin holdings milestone on March 24, days after Saylor hinted at an upcoming Bitcoin buy as the company announced the pricing of its latest tranche of preferred stock on March 21.

The firm is currently up over 21% on its Bitcoin holdings with an unrealized profit of over $7.7 billion, according to Saylortracker data.

Strategy total Bitcoin holdings, all-time chart. Source: Saylortracker

Strategy’s near $2 billion dip buy comes despite investor concerns related to Trump’s upcoming tariff announcement on April 2, which may set the tone for Bitcoin’s price trajectory throughout the month.

Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur Hayes

The April 2 announcement is expected to detail reciprocal trade tariffs targeting top US trading partners, a development that may increase inflation-related concerns and limit demand for risk assets like Bitcoin.

“This sell-off isn’t the end of the bull run — it’s a healthy reset,” Andrei Grachev, managing partner of DWF Labs, told Cointelegraph. “Markets overreact to tariffs and macro headlines, but long-term fundamentals haven’t changed.”

Related: Crypto debanking is not over until Jan 2026: Caitlin Long

MicroStrategy may owe taxes on unrealized Bitcoin gains

Despite never selling any Bitcoin, Strategy may have to pay taxes on its unrealized gains of over $7.7 billion, which had previously soared to $19 billion at the end of January, Cointelegraph reported.

The firm may have to pay federal income taxes on its unrealized gains, according to the Inflation Reduction Act of 2022.

The act established a “corporate alternative minimum tax” under which Strategy would qualify for a 15% tax rate based on the adjusted version of the company’s earnings, according to a Jan. 24 report in The Wall Street Journal.

Still, the US Internal Revenue Service (IRS) may create an exemption for BTC under Trump’s more crypto-friendly administration.

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Ethereum’s native token, Ether (ETH) has lost almost half its value two months after Eric Trump, son of US President Donald Trump, told his 5.7 million followers that it was a “great time” to add the biggest altcoin to their portfolios.

Source: X/Eric Trump

President Trump spoils son’s bullish ETH outlook

As of March 31, Ether was trading for as low as $1,820, down approximately 40% since Eric Trump’s bullish tweet.

ETH/USD daily price chart. Source: TradingView

Meanwhile, Ether’s crypto market share has plunged from 10.28% at the time of Eric Trump’s X post to 8.39% as of March 31, the lowest since 2020.

Ethereum Dominance Index daily chart. Source: TradingView

A series of market headwinds blindsided traders following Eric Trump’s comment.

For instance, on Feb. 21, Bybit, a prominent cryptocurrency exchange, suffered a major security breach in which it lost approximately $1.5 billion in Ether, marking the largest cryptocurrency heist to date.

President Trump’s escalating tariff war against Canada, Mexico, and China also intensified selling across Ethereum and the broader crypto market. His 25% tariffs on auto imports, which are set to go live on April 3, are further dampening risk sentiment.

Michaël van de Poppe, the co-founder of crypto portfolio management firm MN Consultancy, doubted an Ether price rebound in the coming days, adding that the markets should anticipate an ETH bottom when gold price peaks.

Source: X/Michaël van de Poppe

Gold, a traditional risk-off asset, has surged 17.60% year-to-date to reach a record high of $3,085 an ounce.

Trump-linked crypto platform grows ETH stash

World Liberty Finance (WLFI), a decentralized finance firm associated with the Trump family, strategy transferred 73,783 ETH (~$212.60 million at the time) to Coinbase Prime two days after Eric Trump’s X post on Feb. 21.

WLFI Ethereum holdings chart. Source: Arkham Intelligence

The close timing of these events has led to speculation within the crypto community about Eric Trump’s intentions. That is despite WLFI’s clarification that the transfer was part of routine treasury management and not indicative of an intent to sell off their holdings. ​

Source: Emperor

WLFI has made several multimillion-dollar crypto purchases just ahead of key industry events tied to President Trump.

Notably, the firm acquired $20 million worth of various tokens in the days leading up to the March 7 White House Crypto Summit, raising eyebrows over the timing and potential strategic intent.

Similarly, critics have raised concerns about Donald Trump’s new stablecoin, USD1, citing a conflict of interest.

WLFI has more than tripled its Ether holdings since the Feb. 23 transfer. However, even this aggressive accumulation—coupled with a broader uptick in whales’ ETH holdings—has done little to reignite bullish sentiment in the Ethereum market.

How low can Ethereum price go in April?

If technical indicators are any cue, Ether’s price can still go below $1,500 in April, down about 20% from the current price levels.

Notably, as of March 30, the ETH/USD pair had entered the breakdown stage of what appears to be a bear flag pattern.

ETH/USD daily price chart. Source: TradingView

This technical setup forms when the price consolidates higher after a sharp downturn and typically resolves when the price breaks below the lower trendline, falling by as much as the previous decline’s height.

Applying this technical rule brings $1,490 as Ether’s next downside target in April.

Double-bottom may start 35% price rebound

But all hope isn’t lost for the bulls. A sharp rebound from the current support levels at around $1,800 may still invalidate the bear flag setup. Instead, it may trigger a double-bottom pattern, which could help ETH’s price rebound toward $2,500 by April.

ETH/USD daily price chart. Source: TradingView

A double bottom typically appears after a prolonged downtrend and is characterized by two distinct troughs near the same price level, followed by a breakout above the interim high—known as the neckline.

Related: Ethereum futures premium hits 1+ year low — Is it time to buy the ETH bottom?

ETH has printed two bottoms around the $1,800 support zone, with the neckline resistance near $2,094.

A decisive break above the neckline could confirm this pattern, staging the price for recovery by as much as the pattern’s maximum height. That puts ETH’s upside target at around $2,500, up 35% from the current prices.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Non-fungible token (NFT) marketplace X2Y2 announced it is shutting down after three years of operation.

According to a March 31 announcement, X2Y2 will shut down on April 30, with the team switching its focus to an artificial intelligence project. The team shared its enthusiasm for the rapidly growing sector:

“It’s a pivot. Over the last 12 months, we’ve been diving deep into AI—hands down the biggest paradigm shift we’ll see in our lifetimes—and how it can transform crypto. We’re building something new.“

Token Terminal data shows that X2Y2 saw $53.6 million worth of trading volume over the last 365 days. While this is a far cry from market leader Blur with its $3 billion worth of trading volume, it still awards the protocol fourth place behind Blur, OpenSea and Immutable.

X2Y2 365-day trading volume chart. Source: Token Terminal

Charu Sethi, president at NFT-focused Polkadot and Kusama chain Unique Network, said the decision is not a sign of decline in the NFT market. She told Cointelegraph:

“The speculative phase focused on collectibles and trading is over, but NFTs are now entering their next growth era as core infrastructure enabling massive opportunities in gaming, AI, fan engagement and content authentication. “

Related: The ABCD of AI: Automation, big data, computer vision and deep learning

Real-world implementation is key

Sethi highlighted initiatives such as Mythical Games issuing large numbers of NFTs on Polkadot meant for in-game integration following a $75 million fundraise in 2021. She also pointed out a DappRadar report showing that the blockchain gaming sector reached 7.4 million daily unique active wallets in 2024.

According to Sethi, “X2Y2’s experience highlights that NFT platforms cannot rely solely on marketplace network effects.” Instead, companies should focus on building communities and market resilience by building NFTs into real-world applications. She said that the key is in valuing utility over speculation:

“Platforms should pivot toward utility-driven models that incentivize consistent user engagement, whether through gaming, sports fandom or AI-backed applications. Successful platforms will create ecosystems where NFTs are part of an ongoing value cycle, not just speculative trading assets.

Related: Nvidia’s stock price forms’ death cross’ — Will AI crypto tokens follow?

A new focus

The announcement was scant on details concerning the project that the X2Y2 team is focusing on. Still, the firm suggested that the readers should imagine “yields in a permissionless way, powered by AI.”

The new platform will reportedly allow users to earn profits throughout bear and bull markets and entire market cycles, in what is presumably a somewhat decentralized variation on AI-powered trading:

“This isn’t just another project; it’s our shot at creating real, long-term value in crypto for the broader community we’re proud to serve.“

The announcement follows early February reports that tokens tied to artificial intelligence agents were down by as much as 90% from 2024 highs. Still, recent reports suggest that the rise of AI-driven crypto agents may be following a familiar trajectory that mirrors the initial boom, bust and resurgence of ICO-era projects.

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