MicroStrategy’s Bitcoin holdings turned profitable after a five-day rally pushed BTC above its average purchase price.
MicroStrategy reported an unrealized profit of $1.4 billion on its Bitcoin holdings as BTC surged to $77,000, surpassing the company’s average acquisition cost. The firm holds 840,447 BTC, valued at $64.97 billion, marking a sharp recovery from July’s $13 billion unrealized loss when Bitcoin dipped to $58,000.
The rebound follows a shift in strategy, including sales of 6,948 BTC for $432.5 million since May and a $334 million share sale to bolster liquidity. Bitcoin’s 23% rally over five days, its strongest in months, drove the turnaround, though prices remain below the October peak of $126,000.
MicroStrategy shares rose 10% in pre-market trading to $120, their highest level in two months, reflecting investor optimism amid the Bitcoin recovery.