Strategy Swings From $13 Billion Bitcoin Loss to $1.4 Billion Profit as BTC Rallies

In brief

• Strategy is sitting on roughly $1.4 billion in unrealized gains on its Bitcoin holdings.
• The company holds 840,447 BTC acquired at an average price of $75,385.
• Bitcoin's rally follows months of pressure that pushed Strategy's position roughly $13 billion underwater in July.

Michael Saylor’s Bitcoin treasury company Strategy is back in the black on its massive Bitcoin holdings after a five-day rally pushed BTC above the company's average acquisition price.

The company holds 840,447 BTC, worth around $64.97 billion. With Bitcoin trading around $77,000, Strategy is sitting on an unrealized gain of roughly $1.4 billion, or 2.4%.

The turnaround is a sharp reversal from July, when Bitcoin fell to roughly $58,000, and Strategy's holdings were about $13 billion underwater. Bitcoin remains well below its October all-time high of $126,000.

Strategy shares rose roughly 10% in Friday pre-market trading to $120, their highest level in two months.

The rebound follows a shift in how Strategy manages its Bitcoin treasury. The company has sold 6,948 BTC for roughly $432.5 million since May after years of Executive Chairman Michael Saylor championing a "never sell" approach.

Strategy sold 1,690 BTC for $109 million during the week ending August 9, using the proceeds to repurchase STRC, its variable-rate perpetual preferred stock. The sale reduced its holdings to 840,447 BTC.