Crypto
Strategy Inc.'s Bitcoin Position Flips from Massive Loss to Gain
Strategy Inc., formerly MicroStrategy, has seen its massive Bitcoin position flip from a $13 billion loss to a $1.4 billion gain.
The company's shares surged this week as the price of Bitcoin continued to balloon, reaching over $77,000 and up more than 20% in recent trading sessions.
Strategy began purchasing Bitcoin at around $11,000 in 2020, with an average cost basis of $75,385. The company has been a net seller of Bitcoin in recent weeks, reducing its position for the first time ever.