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Strategy’s Bitcoin Is $2.8 Billion in Profit-Is Saylor Teeing Up a Buy?
Decrypt • • business
Key Points:
- Michael Saylor's Strategy holds 840,447 BTC, currently valued at about $66.4 billion, marking a 4.4% gain and $2.8 billion profit over its average purchase price after Bitcoin rallied to around $79,007.
- The company's Bitcoin holdings flipped from $13 billion underwater in July to profitable following a recent Bitcoin price surge driven by spot ETF inflows and a weaker dollar.
- Strategy has not added to its Bitcoin stash in two months, reflecting a strategic shift toward capital management, including raising $334 million by selling MSTR stock and selling small Bitcoin amounts for dividends and buybacks.
- Saylor's recent social media post hints at a potential resumption of Bitcoin purchases, though no confirmation was given, amid a volatile market influenced by inflation concerns and Federal Reserve rate-hike expectations.
- Despite recent gains, Bitcoin remains well below its all-time high near $126,000, meaning Strategy's current profits are modest relative to the peak.
