Strategy Bitcoin Treasury Returns to Profit as BTC Surpasses $77K

Strategy, the company with the world's largest corporate Bitcoin treasury, returned to profitability on its cryptocurrency holdings Friday as the price of Bitcoin surged past its average acquisition cost. The digital asset's price climbed above $77,000 on August 21, pushing the value of the firm's 840,447 BTC into positive territory for the first time in months.

The company holds its Bitcoin at an average cost basis of $75,385 per coin, inclusive of fees and expenses. With Bitcoin trading near $77,000, Strategy's position reflects an unrealized gain of approximately $1.4 billion, which represents a 2.4% return on its total investment. This turnaround was driven by a significant rally, with Bitcoin gaining roughly 22% over five consecutive trading sessions, its strongest upward move in months.

The return to profit follows a challenging period for the company. When Bitcoin's price fell to $58,000 in July, Strategy's treasury was carrying an unrealized deficit of about $13 billion, amounting to a 20.4% loss on its cost basis. During that downturn, between August 3 and August 9, the company sold 1,690 BTC for $108.6 million. Those proceeds were used to repurchase 1.15 million shares...