- Strategy’s shares rose 10% to $120 in Friday’s premarket session, reaching their highest price in approximately two months.
- The company’s Bitcoin portfolio has returned to an unrealized profit of roughly $1.4 billion, equivalent to about 2.4%, after BTC climbed nearly 22% over five consecutive trading days.
- Strategy owns 840,447 BTC, acquired at an average cost of $75,385 per coin. With Bitcoin trading around $77,000, the company’s holdings are now worth more than their combined purchase price.
- Strategy had spent much of the year with its Bitcoin holdings underwater as BTC fell about 54% from its October record near $126,000. The latest rally has erased those unrealized losses.
- Bitcoin remained largely in the low-to-mid $60,000 range for much of the past few months, during which Strategy sold around 6,916 BTC. Meanwhile, the company increased its U.S. dollar reserve to $4.8 billion, providing an estimated 2.8 years of coverage for dividends and other obligations.
- When Bitcoin dropped to approximately $58,000 in July, Strategy’s unrealized loss on its BTC holdings reached about $13 billion, representing around 20.4% of its total Bitcoin cost basis.
- Strategy is also focused on restoring its perpetual preferred stock, STRC, toward its $100 par value.
- The company has bought back roughly $347 million of STRC over the past four weeks, consuming more than one-third of its $1 billion repurchase authorization. The company has increased the pace of those purchases each week.
- STRC is currently priced at around $95.62, representing a gain of about 35% from its June low of $71.
- Strengthening conditions in the wider digital credit market could provide another boost to STRC. SATA, the perpetual preferred security issued by Strive Asset Management, briefly regained its $100 par value Thursday, marking its first return to that level in two months.
Strategy Books $1.4B Bitcoin Gain as BTC Pushes Higher
