Bitcoin’s climb back above $78,000 has pushed Strategy’s large BTC stake back into positive territory, reversing months of unrealized losses for the closely watched institutional position.
The rebound has restored profitability for the company after a volatile period following last year’s all-time highs. Blockchain analytics firm Arkham Intelligence reported that Strategy’s holdings have moved above break-even as bullish momentum returned to the crypto market.
Strategy’s average Bitcoin cost sits near $75,577, and BTC was trading around $78,102 at the time of reporting — up about 4.6% over 24 hours and the highest level since early February. The rally represents more than a 23% gain since geopolitical tensions in the Middle East escalated seven weeks ago, and was helped by comments that the Strait of Hormuz was “completely open,” remarks later echoed by President Trump. Strategy’s shares jumped roughly 12.5% to $168, a three-month high, according to Yahoo Finance.
The company first bought Bitcoin on August 11, 2020, spending $250 million to acquire 21,454 BTC — a move founder Michael Saylor described as the start of a new capital allocation approach. Despite periods of heavy unrealized losses, Strategy has continued to accumulate Bitcoin, funding buys through convertible debt and equity offerings. It now holds approximately 780,897 BTC at a total acquisition cost near $59.02 billion.