Morning Minute: Saylor’s Strategy Back in Green As BTC Soars to $78k
Strategy is back in profit on Bitcoin after BTC’s five-day rally above $78,000. The company holds 840,447 BTC bought at an average cost of $75,385; at current prices the stake is worth about $65.9 billion versus $63.4 billion paid, an unrealized gain of roughly $2.5 billion. That marks a major reversal from July, when the position was about $13 billion underwater. The gain comes despite Strategy recently selling 6,948 BTC since May, including 1,690 BTC for $109 million in early August, to fund buybacks of its preferred stock and other financing moves. The company also sold MSTR shares and built a $6.7 billion cash reserve. Michael Saylor’s long-standing “never sell Bitcoin” stance has clearly softened. The implication is that Bitcoin’s rebound was driven more by broader market flows, including ETF demand, than by Strategy’s buying.
