Strategy Bitcoin treasury hits breakeven point as BTC price passes $77K
Bitcoin climbed above $77,000, reaching its highest level since May and gaining about 20% in 48 hours. The move put Strategy’s large Bitcoin treasury back in profit, with its 840,447 BTC cost basis around $75,385 and a year-to-date gain of roughly $450 million. Strategy had recently sold 1,690 BTC to repurchase preferred shares, fueling concerns about its Bitcoin strategy, but the rebound eased those worries and left its holdings more overcollateralized. CEO Phong Le said the company expects to resume buying Bitcoin before year-end. Onchain data also showed a strong support zone forming below $70,000, with 3.44 million BTC clustered at cost bases between $58,000 and $67,000. BTC also reclaimed its 200-day moving average near $68,967, a key level that had marked the longer-term downtrend.
