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Strategy’s MSTR stock rebounds faster than Bitcoin after BTC surge
Bitcoin briefly topped $81,000 and Strategy’s unrealized gains have returned to more than $3 billion without new Bitcoin purchases, while the company continues heavy equity issuance via its at-the-market program.
Bitcoin’s two-week recovery accelerated after the US Treasury moved to expand buybacks of longer-dated government debt, easing pressure on yields and weakening the dollar, according to CryptoSlate. The rebound helped boost investor demand for spot Bitcoin exchange-traded funds and fueled short liquidations, pushing BTC briefly above $81,000 on Tuesday, its highest level in more than three months. Bitcoin later retraced to $78,772 as of press time. The jump in cryptocurrency prices has lifted Michael Saylor’s Strategy BTC holdings back into profit, with the company’s balance sheet showing more than $3 billion of unrealized gains versus its aggregate purchase cost, CryptoSlate reported. Strategy has not resumed buying Bitcoin, but the value of its existing holdings has risen enough to put the gains back on its books. CryptoSlate also noted that Strategy’s common stock has rebounded faster than Bitcoin during the same period, even as the company continues issuing large amounts of new equity. MSTR closed at $92.52 on Aug. 18 and climbed to $126.79 on Tuesday, about a 37% gain, while Bitcoin rose roughly 22% from about $64,700 to the $79,000 to $80,000 range. Strategy holds 840,447 Bitcoin acquired for $63.36 billion at an average price of $75,385, CryptoSlate said. With Bitcoin around $80,000, the position is worth roughly $67 billion. Meanwhile, Strategy continued monetization of its holdings, selling a total of 6,948 Bitcoin for about $432.5 million since beginning its new program in May 2026, and between Aug. 17 and Aug. 23 it sold 18.26 million MSTR shares through its at-the-market program, raising $2.01 billion in net proceeds.
Latest closeBitcoin $78,800.07 ▲0.3%