Strategy · Bitcoin · Wall Street · Michael Saylor · Cointelegraph
Strategy Bitcoin treasury hits breakeven point as BTC price passes $77K
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Bitcoin gains 20% in two days as Strategy sees its BTC treasury climb out of the red.
Key facts
- Some 3.44 million BTC now have an onchain cost basis, also known as realized price, between $58,000 and $67,000
- As between Aug. 3 and Aug. 9, Strategy opted to sell a small portion of its treasury worth 1,690 BTC to repurchase 1.15 million shares of its STRC preferred stock for $108.6 million
- BTC/USD broke through several key resistance levels this week, including its 200-day simple moving average (SMA) at $68,967, a key target to reclaim to end the long-term BTC price downtrend
- Data from TradingView showed new local highs above $77,400 before the week’s final Wall Street open
Summary
Bitcoin (BTC) hit $77,000 on Friday as business intelligence company Strategy’s corporate treasury returned to profit. Bitcoin reaches its highest level since May 26 as it revisits $77,000. Price returns above the cost basis for Strategy’s BTC corporate treasury at $75,385. Around 11% of the BTC supply constitutes a new band of support below $68,000.