Strategy Swings $10B Loss to $8B Profit as Bitcoin Hits $85K

Strategy's unrealized loss has turned into an $8 billion profit as Bitcoin reached $85,000. This rapid swing is attributed to Bitcoin's climb off summer lows directly repricing Strategy's massive holdings.

Bull Theory posted on X that the reversal happened almost overnight. Widely-followed market commentator Scott Melker noted that Bitcoin sits down 4% on the year while MSTR is up 8%. He added, 'A few months ago, Strategy 'had to go to 0.'

Strategy bought 950 Bitcoin for $75.7 million between Sept. 14 and Sept. 20 at an average price of $79,670 per coin. This purchase ended a nearly month-long buying pause and brought total holdings to 846,000 BTC, worth roughly $71.9 billion.

Executive Chairman Michael Saylor's 'A little more orange' post on X preceded the announcement, historically signaling fresh purchases. The company also repurchased 1.77 million STRC preferred shares for around $174 million during the same stretch.