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Bitcoin treasury firm swings from $13 billion loss to $1.4 billion profit
The firm now shows about $1.4 billion in unrealized gains after Bitcoin rose above its average acquisition price, according to Decrypt.
Decrypt reports that a major Bitcoin treasury firm has reversed its earlier paper loss as the cryptocurrency has rallied.
The company previously showed roughly $13 billion in losses, but its current position is about $1.4 billion in unrealized gains.
The improvement comes as Bitcoin moved above the firm's average acquisition price, lifting the mark-to-market value of its holdings.
Decrypt attributes the change to Bitcoin's price action relative to the company's purchase cost basis.
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