Strategy's Bitcoin Bet Pays Off as MSTR Stock Surges on Crypto Rally
Strategy (NASDAQ: MSTR), led by billionaire entrepreneur Michael Saylor, has reversed its fortunes on its massive Bitcoin holdings. The company holds 840,447 BTC acquired at an average price of $75,385 per coin.
As Bitcoin trades around $77,400, Strategy is sitting on approximately $1.69 billion in unrealized profit, a significant turnaround from the deep losses it endured just weeks ago.
The company's paper losses soared to approximately $13 billion when Bitcoin crashed as low as $58,300 on June 30. This led to Strategy selling portions of its Bitcoin stack multiple times throughout the year.
The recovery in Bitcoin's price above $79,000 was driven by a combination of factors, including the Treasury's decision to at least double the amount of its longer-dated government debt buybacks and President Donald Trump's pro-crypto declarations. A subsequent short squeeze added further momentum to the rally.