Strategy Swings to $1.4 Billion Bitcoin Gain as 840,447 BTC Tops $75,385 Cost
Updated
Updated · Decrypt · Aug 21
Strategy Swings to $1.4 Billion Bitcoin Gain as 840,447 BTC Tops $75,385 Cost
3 articles · Updated · Decrypt · Aug 21
Summary
$77,000 Bitcoin left Strategy with about $1.4 billion in unrealized gains on 840,447 BTC worth roughly $64.97 billion, reversing a July slump that had put the position about $13 billion underwater.
A nearly 23% five-day rally pushed Bitcoin back above Strategy's $75,385 average purchase price after months of trading mostly in the low-to-mid $60,000s.
Strategy shares rose about 10% in Friday premarket trading to $120, their highest in two months, as the rebound validated a recent shift away from Michael Saylor's long-held "never sell" stance.
Since May, the company has sold 6,948 BTC for about $432.5 million, then halted sales and raised $334 million through MSTR stock to fund preferred dividends, STRC buybacks and a cash reserve that reached $4.8 billion.
The crypto surge accelerated after Donald Trump urged Congress to advance the Clarity Act, while CFTC Chair Michael S. Selig said the agency would draft market-structure rules if the bill stalls.