4 days ago
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Strategy is sitting on roughly $1.4 billion in unrealized gains on its Bitcoin holdings after a five-day rally pushed BTC above the company’s average acquisition price.
The company holds 840,447 BTC acquired at an average price of $75,385. With Bitcoin trading around $77,000, Strategy’s unrealized gain was about 2.4%, according to Decrypt.
The result reverses a roughly $13 billion paper loss in July, when Bitcoin fell to around $58,000. Bitcoin remains below its October all-time high of $126,000. Strategy shares rose about 10% in Friday premarket trading to $120.
Strategy has sold 6,948 BTC for about $432.5 million since May after years of maintaining a “never sell” approach. It sold 1,690 BTC for $109 million during the week ending August 9 and used the proceeds to repurchase its variable-rate STRC preferred stock.
The company later raised $334 million through MSTR share sales for preferred dividends, STRC buybacks and its dollar reserve, which increased to $4.8 billion. Bitcoin rose nearly 23% over five consecutive days.
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