Strategy's BTC Holdings Turn Profit as Bitcoin Surges Past $77K

Bitcoin's recent surge past $77K has turned around Strategy's financial fortunes, reversing steep losses from earlier in the year. The company now holds an unrealized gain of roughly $1.4 billion on its BTC holdings, a 2.4% increase over its cost basis.

Strategy acquired 840,447 BTC at an average purchase price of $75,385 per coin. When Bitcoin's price dropped to $58,000 in July, the company's unrealized loss reached approximately $13 billion, representing 20.4% of its total bitcoin cost basis at the time.

The company has been repurchasing its perpetual preferred stock, STRC, with over a third of its $1 billion buyback plan completed so far. STRC currently trades at $95.62, up 35% from its June low and nearing its $100 par value target.