Bitcoin Price Stabilizes at $63,900 Amid Strategy's $8.2Bn Loss
The Bitcoin price has stabilized at around $63,900, up 0.4% over the past 24 hours.
This comes as Strategy, a company known for its institutional BTC accumulation, released a sobering second-quarter earnings report showing an $8.2Bn loss driven by unrealized losses on its bitcoin holdings.
The firm's Q2 report revealed that the Bitcoin price finished the quarter more than 40% lower year-over-year, with Strategy growing its BTC stack by 11% during the quarter and reaching a peak of 846,000 BTC before beginning selective asset sales.
Strategy now holds 843,775 BTC and has paused BTC purchases for five consecutive weeks, removing one of the market's most visible demand signals.