Strategy's Bitcoin Holdings Swing from $13 Billion Loss to $1.4 Billion Profit

Strategy, Michael Saylor's Bitcoin treasury company, has turned its massive BTC holdings from a $13 billion loss to a $1.4 billion profit in just five days.

The turnaround comes after Strategy's position was roughly $13 billion underwater in July when Bitcoin fell to around $58,000.

Strategy now holds 840,447 BTC, acquired at an average price of $75,385, and is sitting on an unrealized gain of roughly 2.4% as the price of BTC has risen above its average acquisition price.

The company's shares rose around 10% in pre-market trading to $120, their highest level in two months, following the sharp reversal.