Strategy (NASDAQ: MSTR) Turns Bitcoin Position Profitable As BTC Surges Past $77,000

Strategy (NASDAQ: MSTR), the firm led by billionaire entrepreneur Michael Saylor, has clawed its way back to profitability on its massive Bitcoin holdings after months of sitting on significant unrealized losses.

The company, formerly known as MicroStrategy, holds 840,447 BTC acquired at an average price of $75,385 per coin, placing it firmly back in the black as Bitcoin trades around $77,400.

At current prices, Strategy is sitting on approximately $1.69 billion in unrealized profit, a dramatic turnaround from the deep losses the company was enduring just weeks ago.

Bitcoin had crashed as low as $58,300 on June 30, sending Strategy’s paper losses soaring to approximately $13 billion, representing roughly 20% of the company’s total Bitcoin cost basis.

The pain during those months was severe enough that the company was forced to sell portions of its Bitcoin stack multiple times throughout the year, a notable shift in strategy for a firm that had long positioned itself as an unwavering accumulator of the cryptocurrency.

Between May 26 and May 31, Strategy sold 32 Bitcoin for roughly $2.5 million, according to a company filing, marking its first Bitcoin sale since 2022 and reducing its holdings to 843,706 BTC at the time.