Strategy's Bitcoin Stack Surges by Over $12 Billion

Strategy's Bitcoin stack has seen a significant swing in value due to the recent price surge of Bitcoin. As of August 21, 2026, Strategy's 840,447 Bitcoin are worth around $1.95 billion more than its original cost basis. This is a remarkable swing considering that just four days prior, on August 17, 2026, the position was underwater by nearly $10 billion.

The price of Bitcoin has risen significantly in recent days, climbing from around $63,500 on August 17 to over $77,700 on August 21. This rapid increase has led to a four-day swing of close to $12 billion in Strategy's position, with no trades or sales taking place.

Strategy's stock, MSTR, has also seen a significant gain, rising by over 12% on August 19 and continuing to climb into the August 21 session. However, it is still trading below the value of its own Bitcoin holdings on a per-share basis.