Bitcoin’s price suddenly surged last night, and Strategy’s unrealized position losses shrank dramatically. Now the market value of the 840-plus BTC they hold is nearly 60 billion yuan—cost basis 75,000 yuan per BTC. They’re still down 5.35 billion yuan, but they’re only about $6,400 away from breaking even.
This rebound is pretty important for institutions, especially long-term holders. Market sentiment has warmed up, which may prompt some previously trapped institutions to start loosening up. However, it’s still too early to say they’ve fully turned things around, since Bitcoin remains volatile.
If they can stabilize from here, perhaps more capital will move in.
$BTC
This rebound is pretty important for institutions, especially long-term holders. Market sentiment has warmed up, which may prompt some previously trapped institutions to start loosening up. However, it’s still too early to say they’ve fully turned things around, since Bitcoin remains volatile.
If they can stabilize from here, perhaps more capital will move in.
$BTC