Michael Saylor\u2019s Strategy swung an unrealized loss of more than $9.5 billion to a paper profit above $4.7 billion in just seven days.<\/p>\n
The reversal follows Bitcoin\u2019s climb from the low $60,000s to above $80,000 over the same week, turning the largest corporate BTC holder\u2019s balance sheet from red to green.<\/p>\n
Strategy\u2019s own dashboard puts its holdings at 840,477 BTC, bought at an average price of $75,385, a position that was down more than $9.5 billion a week earlier and is now up<\/a> more than $4.7 billion.<\/p>\n The firm has kept building its cash position and has not bought or sold any Bitcoin over the stretch. However, it did sell 18.26 million shares of MSTR for $2.01 billion, with $1.59 billion moved<\/a> into a second reserve, USD Cash, that Strategy says can be used for future Bitcoin purchases. Its regular USD reserve also grew<\/a> to $5.1 billion.<\/p>\n It also repurchased $136 million of its STRC preferred shares, whose price keeps climbing toward its $100 par value ($97.21 at last check), with its last Bitcoin move being a sale<\/a> on August 10, when it shed 1,690 BTC.<\/p>\n Saylor addressed the shift on X, writing<\/a>, \u201cBitcoin is not abandoning its principles. It is transcending its prejudices.\u201d The line followed a lengthy essay he published arguing that the OG cryptocurrency\u2019s move into exchange-traded funds, corporate treasuries and regulated custody should not be treated as a betrayal of the network\u2019s original purpose, but as a natural stage of its growth.<\/p>\n At the time of writing, BTC was trading above $80,000 for the first time since mid-May, tapping a multi-month high above $81,000, according to CoinGecko data. The asset was up roughly 25% in a week and about 4% in 24 hours.<\/p>\n The rally wiped<\/a> out more than $260 million in short positions within four hours, pushing daily liquidations to about $650 million, with Bitcoin accounting for at least half of that amount.<\/p>\n Elsewhere, analyst Matthew Hyland has pointed<\/a> to $83,000 and then $118,000 as the next levels to watch. Another market watcher, Will Clemente, noted that Bitcoin has now closed above its 20-, 50-, and 200-day exponential moving averages against the dollar, gold, the S&P 500, and the Nasdaq 100, something it had not done in months.<\/p>\n Other coins moved with it, including Ethereum, which has gone above $2,500 after gaining 32% in the week, and XRP, which also pushed past $1.50. Meanwhile, Solana broke back above $100 for the first time in months and was up more than 7.5% on the day.<\/p>\n Additionally, a chart shared<\/a> by trader Mark Harvey put Bitcoin\u2019s ten-year returns at 13,491%, just ahead of Nvidia\u2019s 13,428%, and way better than every other entry on the list, including Tesla, Apple and Amazon.<\/p>\n The post Bitcoin Rally Takes Strategy From $9.5B Underwater to $4.7B Paper Profit in 7 Days<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Michael Saylor\u2019s Strategy swung an unrealized loss of more than $9.5 billion to a paper profit above $4.7 billion in just seven days. The reversal follows Bitcoin\u2019s climb from the low $60,000s to above $80,000 over the same week, turning the largest corporate BTC holder\u2019s balance sheet from red to green. The Numbers Behind the […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-218042","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/218042"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=218042"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/218042\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=218042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=218042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=218042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin\u2019s Broader Move<\/h2>\n