Strategy Turns Green on Bitcoin Holdings

Strategy, led by Michael Saylor, has seen its Bitcoin holdings turn green for the first time since July. This is after BTC soared to $78k, pushing the company's unrealized gain near $2.53 billion, or 4.0%. Strategy holds 840,447 Bitcoin bought at an average price of $75,385.

The company's position was underwater in July with a loss of about $13B when Bitcoin traded below $58,000. However, the recent rally has flipped this around, with Strategy now seeing an unrealized gain of $15.5 billion over six weeks.

Saylor has been vocal about not selling Bitcoin and sticking to his strategy, but it appears he did sell some assets in May and August to fund preferred dividends and buybacks. The company's cash reserve now sits at $6.7 billion after a recent fundraising effort.