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Strategy
2026-08-21 17:28:55

Strategy Swings From $13 Billion Bitcoin Loss to $1.4 Billion Profit as BTC Rallies

Strategy, Michael Saylor’s Bitcoin treasury company, has moved back into the black after a five-day BTC rally pushed the token above the company’s average acquisition price. The firm holds 840,447 BTC, worth about $64.97 billion at roughly $77,000 per coin, leaving it with an unrealized gain of about $1.4 billion, or 2.4%. That is a sharp reversal from July, when Bitcoin fell to around $58,000 and Strategy’s holdings were about $13 billion underwater. Strategy shares rose about 10% in Friday pre-market trading to $120, their highest level in two months. The rebound follows a shift in how Strategy has been managing its Bitcoin treasury. Since May, the company has sold 6,948 BTC for about $432.5 million, despite Michael Saylor’s long-running “never sell” stance. In the week ending Aug. 9, Strategy sold 1,690 BTC for $109 million and used the proceeds to repurchase STRC, its variable-rate perpetual preferred stock. The following week, it stopped selling Bitcoin and instead raised $334 million through MSTR share sales, directing the funds to preferred dividends, STRC buybacks and a dollar reserve that grew to $4.8 billion. Bitcoin’s rally gained momentum this week after President Donald Trump urged Congress to advance the Clarity Act, which would create a federal framework for digital assets and split oversight between the Commodity Futures Trading Commission and the Securities and Exchange Commission. On Thursday, CFTC Chair Michael S. Selig said he had directed staff to prepare crypto market structure rules if Congress fails to pass the bill, warning that the agency would use its existing authority if the legislation stalls due to Democratic obstruction.

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