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Strategy Inc., the cryptocurrency treasury company co-founded by Bitcoin advocate Michael Saylor, has achieved a record high in its Bitcoin reserves, surpassing $77 billion as the leading cryptocurrency returned to the $120,000 mark following weeks of fluctuating prices.
Summary
- Strategy Inc. has reached a new all-time high in Bitcoin holdings as BTC climbed above $120,000.
- Over the last seven weeks, the firm has acquired 11,085 BTC.
- Strategy’s market-based net asset value (mNAV) recovered from a low of 1.195 in September to over 1.5.
As of October 3, Strategy’s Bitcoin portfolio, consisting of 640,031 BTC, was valued at approximately $77.4 billion. Saylor celebrated this milestone with an X post that recalled the firm’s initial $250 million investment and the subsequent unrealized loss it experienced.
“Our journey began with $0.25 billion in Bitcoin — and an immediate $0.04 billion unrealized loss. Today, we closed at a new all-time high: $77.4 billion in BTC NAV,” Saylor stated.
A significant portion of this value surged after Bitcoin exceeded the $120,000 threshold, supported by ongoing acquisitions by Strategy even amid broader market fluctuations.
The company’s relentless purchasing has solidified its position as the largest corporate Bitcoin holder in both value and quantity. In the past seven weeks alone, Strategy has secured 11,085 BTC, with a recent purchase of 196 BTC documented on Monday.
Strategy’s valuation has approximately doubled compared to last year’s peak of around $41.8 billion, contributing to a sharp rebound in the firm’s market-based net asset value (mNAV). This metric hit a year-to-date low of 1.195 during the September correction but has since climbed above 1.5. Nonetheless, this remains below the 2.5 threshold previously guiding the company’s capital raising activities.
Investors became cautious when the mNAV multiple dropped below levels that Saylor had identified as a capital raising floor; therefore, this recovery not only enhances Strategy’s capacity to issue new equity at a premium but also provides more leeway for future Bitcoin acquisitions without raising shareholder dilution concerns.
Similarly, shareholders of Strategy were pleased with the turnaround, as MSTR shares experienced a significant rebound after weeks of pressure due to declining Bitcoin prices and negative sentiment surrounding digital asset equities. On October 2, MSTR closed at $352.33, having rallied over 4% that day, regaining levels not seen since early September, according to Google Finance data.
While the stock is still below its July high of approximately $457, the current upward trend might signify the onset of a larger movement that could propel it toward new yearly or even all-time highs.
As of this writing, data from BitcoinTreasuries.NET indicates that Strategy holds about 48% of the 1.32 million BTC owned by public and private companies worldwide.
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