Strategy climbs back into profit as Bitcoin rally nears $77,000

Michael Saylor’s Strategy (NASDAQ: MSTR) is back to soaring with the eagles as Bitcoin’s climb past $77,000 put the firm back in profit on its 840,447 Bitcoin stash. 

The Bitcoin position that took $63.36 billion to build is now worth about $65.5 billion, putting Strategy up more than $2 billion as of this Cryptopolitan report. 

That rally has trickled down to MSTR shareholders, with the stock up more than 11% in pre-market trading, rising from its $112.339 close on Thursday to about $126 early Friday. 

Saylor and Strategy are back on top

Bitcoin’s march past the $77,000 mark has put Strategy back in the black. The firm paid an average of about $75,400 to build its 840,447 BTC portfolio.

CoinMarketCap data showed Bitcoin up nearly 10% in the last 24 hours, and more than 20% since its climb from the $63,000-$65,000 range started. 

This BTC cycle started after two catalysts aligned for the Bitcoin market. First, the US Treasury said it would more than double its long-dated bond buybacks from $2 billion to $4 billion. That decision tipped the scales toward debasement hedges such as Bitcoin after the dollar lost its shine to weakness.

The sentiment snowballed into an avalanche of positivity after President Donald Trump hosted crypto executives, digital finance stakeholders, SEC Chair Paul Atkins and CFTC Chair Mike Selig at a White House gathering that rounded up to a Clarity Act push.

Buyers have continued to line up since. SoSoValue counted more than $783 million in bearish positions wiped out in 24 hours, part of roughly $3 billion in short liquidations.

Saylor’s firm stopped selling and started hoarding cash

This rally could not have come at a better time for Strategy after Saylor and other executives have had to come out to reiterate their long-term accumulation playbook after recent selling drew criticism. 

The company did not sell Bitcoin during the week that ended August 16, the first in three weeks that it paused sales, as Cryptopolitan reported. Strategy last bought Bitcoin in June. 

Instead, the firm has had to defend its books through dividend payments and preferred stock buybacks, while building up a $4.8 billion cash reserve.

If you're reading this, you’re already ahead. Stay there with our newsletter.