محفظة بيتكوين (BTC) لدى Strategy تصل إلى 845,050 مع مكسب غير محقق بقيمة 2.2 مليار دولار

COINOTAG · 2026-09-15T13:42:29.000Z

• تمتلك Strategy 845,050 BTC، أي نحو 4% من الحد الأقصى البالغ 21 مليونًا من الإمداد، وفقًا لإفصاح هيئة SEC. • يبلغ مكسب Strategy غير المحقق نحو 2.2 مليار دولار على أساس تكلفة قدره 63.73 مليار دولار. • اشترت BlackRock حوالي 1.08 مليار دولار من البيتكوين خلال 20 يومًا عبر IBIT، لتصل إلى 785,900 BTC. الاستراتيجية تعود إلى أرباح غير محققة استراتيجية القابضة <a>Strategy</a>، وهي أكبر جهة تملك مؤسسيًا لبيتكوين (BTC) في العالم، عادت إلى منطقة الأرباح غير المحققة بعدما يتداول السهم فوق متوسط سعر دخوله، وفقًا لإفصاح الشركة لدى لجنة الأوراق المالية والبورصات الأمريكية (SEC). ويُظهر الإيداع أن الشركة تمتلك 845,050 BTC في الميزانية — ما يعادل نحو 4% من الحد الأقصى البالغ 21 مليونًا من الإمداد — تم شراؤها مقابل إجمالي 63.73 مليار دولار بسعر متوسط 75,412 دولارًا لكل عملة. وبما أن بيتكوين دفعت إلى قرابة 78,000 دولار في الجلسات الأخيرة، فإن قيمة هذه الحيازات تقارب 65.9 مليار دولار، ما يترك مكسبًا ورقيًا يبلغ نحو 2.2 مليار دولار، أو حوالي 3.5% فوق أساس التكلفة. منذ تبنّيها “لعبة” الاحتياطي الاستراتيجي من بيتكوين في 2020، موّلت الشركة التراكم عبر الأسهم العادية والسندات القابلة للتحويل والأسهم الممتازة، لتصبح عمليًا نسخة مُسَاعَدة ذات رافعة مالية للسوق الأوسع للبيتكوين — إذ تتداول أسهمها الممتازة بحساسية حادة لسعر العملة. وتدير Strategy هيكلها الرأسمالي بالتوازي: فقد استردّت مؤخرًا STRC، وهو سهمها الممتاز ذو السعر المتغير الدائم، ورفعت حد إعادة الشراء في برنامج أوراقها المالية الائتمانية الرقمية من 1 مليار دولار إلى 2 مليار دولار. ما تزال السيولة وفيرة — فاعتبارًا من 13 سبتمبر، كانت لدى الشركة نحو 5.1 مليار دولار في احتياطها بالدولار (USD Reserve) و1.3 مليار دولار نقدًا بالـدولار (USD cash)، أي ما مجموعه قرابة 6.4 مليار دولار — ويقدّم دليلها الاستثماري الأحدث وصفًا للأصل بأنه “رأس مال رقمي” مناسب لنهج طويل الأجل بالاحتفاظ (HODL).

• Strategy holds 845,050 BTC, roughly 4% of the 21 million maximum supply, per SEC disclosure.
• Strategy's unrealized gain stands near $2.2 billion on a $63.73 billion cost basis.
• BlackRock bought about $1.08 billion of Bitcoin in 20 days via IBIT, reaching 785,900 BTC.
Strategy Back in Unrealized Profit
Strategy, the world's largest corporate holder of Bitcoin (BTC), has swung back into unrealized profit as the coin trades above its average entry cost, according to the company's disclosure with the U.S. Securities and Exchange Commission. The filing lists 845,050 BTC on the balance sheet — roughly 4% of the 21 million maximum supply — acquired for a combined $63.73 billion at an average price of $75,412 per coin. With BTC having pushed to around $78,000 in recent sessions, the stack is valued near $65.9 billion, leaving a paper gain of roughly $2.2 billion, or about 3.5% above cost basis. Since adopting its strategic Bitcoin reserve playbook in 2020, the company has funded accumulation through common stock, convertible bonds and preferred shares, effectively becoming a leveraged proxy for the wider Bitcoin market — its preferred shares trade with acute sensitivity to the coin's price. Strategy is managing its capital structure in parallel: it recently redeemed STRC, its variable-rate perpetual preferred stock, and doubled the repurchase limit on its digital credit securities program from $1 billion to $2 billion. Liquidity remains ample — as of Sept. 13 the company held about $5.1 billion in its USD Reserve and $1.3 billion in USD cash, roughly $6.4 billion combined — and its latest investment guide frames the asset as “digital capital” suited to a long-term HODL approach.
BlackRock Adds $1.08 Billion in 20 Days
Institutional flows point the same direction as Strategy's cushioned position. On-chain data from Arkham Intelligence shows BlackRock accumulated roughly $1.08 billion worth of Bitcoin over the past 20 days through its iShares Bitcoin Trust (IBIT), with purchases landing on seven of the last monthly ETF trading sessions. That steady bid lifts BlackRock's total stack to about 785,900 BTC — worth roughly $61 billion at prevailing prices — placing the asset manager among the largest corporate whales in the asset class. The pattern shows institutions still prefer the regulated ETF wrapper over direct custody for exposure, even against a choppy tape that has punished leveraged positions. Grayscale moved the opposite way: the Grayscale Bitcoin Trust recorded roughly $254.7 million in net outflows over the same window, an indication that investors rotated out of the older trust structure toward cheaper spot vehicles. The split underlines a consolidation phase in which flows concentrate in the lowest-cost, highest-liquidity fund — a dynamic consistent with IBIT's recent role anchoring a return to spot Bitcoin ETFs across the complex. For price action, seven buying days out of twenty suggests persistent but selective institutional demand rather than indiscriminate accumulation.
Strive Hits an Even 25,000 BTC
Smaller treasury vehicles are still accumulating, though at a decelerating pace. Strive, the Nasdaq-listed asset manager, purchased 469 BTC between Sept. 8 and Sept. 11 at an average of $77,954 per coin, spending $36.6 million, according to the Form 8-K filed with the SEC on Monday. The buy takes holdings to an even 25,000 BTC, valued around $1.95 billion at current prices. The entire purchase was funded by SATA, Strive's variable-rate Series A perpetual preferred stock: shares outstanding rose by 402,541, pushing SATA's notional value past $1 billion for the first time — about $1.04 billion — enough to cover the purchase while cash still ticked up from $202.6 million to $204.2 million. Chief executive Matt Cole said 100% of the capital raised came from SATA and flagged that the firm's amplification ratio — preferred and debt notional measured against Bitcoin net asset value — rose to 53.5%, meaning roughly $53.50 of preferred obligations per $100 of BTC held. The pace marks a sharp slowdown from the prior week's 1,375 BTC ($109 million at an average $79,281). Strive ranks fifth among public holders, behind Strategy, Twenty One Capital — the Tether-backed firm whose CEO Jack Mallers resigned in July — Metaplanet and MARA Holdings. Closing the 18,515-coin gap would require about 1,234 BTC a week over the remaining 15 weeks of 2026. The preferred-only structure exists precisely so common shareholders can HODL their stake through the accumulation phase without dilution.
The $77K Resistance Test
COINOTAG's proprietary 42-indicator composite S/R scoring engine puts spot at $76,936, down 1.16% over 24 hours, pinned just beneath a resistance cluster we rate 77/100 (STRONG) at $77,036 — a confluence of a low-volume node, the 0.214 Fibonacci level and the 20-day EMA. Immediate support at $76,842 scores 62/100 (S1, Fibo 0.236, LVN); the deeper $70,996 shelf (58/100, built on the Fibo 0.500, VWAP and the 200-day EMA/SMA) is the level that would invalidate the bullish structure. Positioning looks mildly complacent: funding sits at 0.0013%, aggregate open interest near $15.0 billion, and the long/short account ratio reads 1.74 (63.5% long), while the Fear & Greed Index at 69 (Greed) signals elevated risk appetite. With RSI at 52.68 and a bearish MACD signal inside a broader uptrend, our base case is a retest of the $77,036 ceiling — a move that would echo the recent spot volume spike we flagged. A clean break below $76,842 flips the short-term thesis and opens the $70,996 retest.