The recent surge in Bitcoin’s (CRYPTO: $BTC) price has given Strategy (NASDAQ: $MSTR) a $1.4 billion U.S. profit on its cryptocurrency holdings.
Bitcoin was trading at $77,300 U.S. early on Aug. 21, up 23% from $62,800 U.S. at the start of the week
The price of BTC has taken off after the U.S. Treasury intervened in the bond market to lower yields and U.S. President Donald Trump called on Congress to pass the Clarity Act legislation.
More From Cryptoprowl: The sudden and sharp rally has been good news for Strategy, which is a serial cryptocurrency acquirer and the largest corporate owner of Bitcoin in the world. After being in the red for months, Strategy is back in profit on its Bitcoin holdings, with an unrealized gain of $1.4 billion U.S., or 2.4%. The company owns 840,447 Bitcoin, which it acquired at an average price of $75,385 U.S.