MSTR Jumps 17% on Bitcoin Surge to $77,000

Shares of Strategy Inc. (NASDAQ:MSTR) jumped to $120 on Friday morning as Bitcoin approached $77,000.

The company's massive Bitcoin holdings, acquired for an average price of $75,385 per coin, are now sitting on an unrealized gain of approximately $1.4 billion.

This represents a swing of around $14.4 billion in the value of Saylor's wager relative to its cost.

Saylor recently told shareholders that they should be prepared for difficult years, but it seems that his strategy is paying off.

Bitcoin's latest surge was driven by several factors, including the Treasury's decision to increase long-dated bond buybacks and a friendlier regulatory approach from the SEC and CFTC.

However, despite the rebound, Strategy Inc.'s financing costs remain a concern, and many shareholders are still nursing losses.

The company raised $333.7 million by selling 3.46 million MSTR shares last week but did not buy any new Bitcoin.