Bitcoin’s 20% rally in two days pushes MicroStrategy’s BTC treasury above its $75,385 cost basis, erasing prior losses.
Bitcoin surged past $77,000 on Friday, lifting MicroStrategy’s corporate BTC holdings above their $75,385 average purchase price. The move marks the first time the company’s treasury has been profitable since May, with a year-to-date gain of $450 million.
MicroStrategy, the largest corporate Bitcoin holder with 840,447 BTC, had seen its cost basis undercut by recent price declines. The rally follows a partial sale of 1,690 BTC earlier this month, used to repurchase 1.15 million shares of its preferred stock for $108.6 million.
BTC/USD climbed 20% in 48 hours, reaching levels last seen in late May. Analysts note that 11% of the Bitcoin supply now acts as support below $68,000, reinforcing the current uptrend.