Michael Saylor’s Bitcoin treasury company Strategy is back in profit on its massive BTC position after Bitcoin surged above the company’s average acquisition price, reversing a period of heavy unrealized losses.
Strategy holds 840,447 BTC, worth about $64.97 billion with Bitcoin trading near $77,000 to $79,000. The company reported an unrealized gain of roughly $1.4 billion to $1.63 billion, or about 2.4%, while its realized losses still remain around $103.58 million. Its average acquisition price stands near $75,385, with the portfolio’s cost basis around $63.61 billion.
The rebound tracks a five-day Bitcoin rally of almost 23%, the strongest run in months. The move pushed BTC from a summer range in the low-to-mid $60,000s back toward the crucial $80,000 level, although Bitcoin remains below its October all-time high of $126,000. Strategy shares rose about 10% in Friday pre-market trading to $120, their highest level in two months.
The recovery also reflects a shift in Strategy’s treasury approach. After years of Michael Saylor championing a “never sell” strategy, the company has sold 6,948 BTC for roughly $432.5 million since May. It sold 1,690 BTC for $109 million during the week ending August 9, using proceeds to repurchase STRC preferred stock. The following week, it stopped selling Bitcoin and instead raised $334 million through MSTR share sales, directing funds to preferred dividends, STRC buybacks and a dollar reserve that increased to $4.8 billion.
Bitcoin’s rally accelerated after President Donald Trump on Wednesday urged Congress to advance the Clarity Act, which would create a federal digital asset framework and divide oversight between the CFTC and the SEC. CFTC Chair Michael S. Selig said Thursday he had directed staff to prepare crypto market structure rules if Congress fails to pass the legislation.
