Strategy's $2.8B Bitcoin Profit Sets Stage for $80K Breakout

Strategy, the company founded by Michael Saylor, has seen its Bitcoin holdings turn from losses to profits. The firm's 840,447 BTC stash is now worth around $66.4 billion against an average purchase price of $75,653, resulting in a 4.4% gain and over $2.8 billion in unrealized profit.

This marks a significant reversal from July, when the same position was approximately $13 billion underwater due to Bitcoin's decline towards $58,000.

The recent surge in price has raised speculation about whether Bitcoin can break through the $80,000 resistance zone. Strategy's holdings and Saylor's chart, which historically precedes purchase disclosures, have contributed to this optimism.