Michael Saylor’s Bitcoin treasury company Strategy has returned to an unrealized profit on its cryptocurrency holdings following a five-day market rally that pushed Bitcoin above the company's average acquisition price.
The company currently holds 840,447 Bitcoin, which were acquired at an average price of $75,385. With Bitcoin trading around $77,000, Strategy holds roughly $1.4 billion in unrealized gains, representing a 2.4% profit on its position worth approximately $64.97 billion.
This recovery marks a significant shift from July, when a drop in Bitcoin's price to roughly $58,000 left Strategy's position approximately $13 billion underwater. Bitcoin continues to trade below its October all-time high of $126,000.
Strategy shares climbed about 10% in Friday pre-market trading to reach $120, marking a two-month high.
The recent financial turnaround follows a modification in Strategy's treasury management. Departing from Executive Chairman Michael Saylor's previous "never sell" policy, the company has sold 6,948 Bitcoin for approximately $432.5 million since May. This included the sale of 1,690 Bitcoin for $109 million during the week ending August 9, with proceeds directed toward repurchasing its variable-rate perpetual preferred stock, STRC.
Following those sales, Strategy halted Bitcoin disposals and instead raised $334 million through sales of MSTR shares. The company allocated these funds toward preferred dividends, STRC buybacks, and its dollar reserve, which grew to $4.8 billion.
The upward price movement coincides with a nearly 23% surge in Bitcoin over five consecutive days, following months of summer trading in the low-to-mid $60,000 range. The broader market rally accelerated after President Donald Trump urged Congress on Wednesday to advance the Clarity Act, legislation designed to establish a federal regulatory framework for digital assets and divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Additionally, CFTC Chair Michael S. Selig stated on Thursday that he had directed staff to prepare crypto market structure rules should legislative efforts stall in Congress.
