Key facts
- MicroStrategy's Bitcoin holdings are now profitable, with an unrealized gain of approximately $2.53 billion.
- Bitcoin price surged past $78,000, reaching $78.5k.
- MicroStrategy holds 840,447 BTC acquired at an average price of $75,385.
- Bitcoin ETFs experienced $307 million in net inflows on Friday, totaling $1.92 billion for the week.
- ETH ETFs saw $184 million in inflows on Friday and $693 million for the week.
- Several major cryptocurrencies and altcoins posted significant weekly gains.
MicroStrategy's significant Bitcoin holdings have turned profitable for the first time since July, as the cryptocurrency surged past $78,000 to reach $78.5k. The company, led by Michael Saylor, holds 840,447 Bitcoin acquired at an average price of $75,385, now valued at approximately $65.89 billion, representing an unrealized gain of about $2.53 billion.
This turnaround follows a period where the position was deeply in the red, with an estimated $13 billion loss in July when Bitcoin was near $58,000. MicroStrategy's stock (MSTR) also saw a significant rise, closing at $119.25, up 27.4% for the month. Despite the recent gains, the stock remains substantially below its 52-week high.
While Saylor's strategy is now in the green, the company has been a net seller of Bitcoin and its own stock since May, using proceeds for share buybacks and dividends. The recent market rally, potentially triggered by Scott Bessent's actions related to yield curve control, has benefited Bitcoin ETFs, which saw substantial inflows totaling $1.92 billion for the week. ETH ETFs also experienced strong inflows.
Across the broader crypto market, major cryptocurrencies like Bitcoin and Ethereum posted significant weekly gains of 23% and 31% respectively. Numerous altcoins, including meme coins and DeFi tokens, saw gains of 50% or more. The ETH/BTC pair achieved a golden cross, a bullish technical indicator. Zcash experienced a notable surge of 48% ahead of a potential Grayscale spot ETF conversion.