MSTR Bitcoin Treasury Returns to Profit Amid Crypto Rally

Michael Saylor's strategy at Strategy Inc., formerly MicroStrategy (Nasdaq: MSTR), has seen its massive Bitcoin treasury return to an unrealized profit after the cryptocurrency climbed above the company's average acquisition cost.

The development comes amid a sharp multi-day rally in Bitcoin, which has narrowed or briefly erased paper losses accumulated earlier in the year. As of August 21, 2026, Strategy's holdings of 840,447 BTC carried an estimated unrealized gain of roughly $2.19 billion, as Bitcoin traded higher at $78,000.

Strategy Inc.'s heavy reliance on Bitcoin valuation makes MSTR stock swing $840 million per $1,000 price move. This marks a significant recovery from earlier in August when Bitcoin traded in the low-to-mid $60,000s and Strategy faced multi-billion-dollar paper losses on its holdings.