The Bitcoin (BTC) crash this year forced billionaire entrepreneur Michael Saylor's Strategy (Nasdaq: MSTR), formerly MicroStrategy, to sell its Bitcoin stack multiple times.
32 BTC for $2.5 million during May 26-31 — first sale since 2022
3,588 BTC for $216 million during June 29-July 5
1,638 BTC for $104.73 million during July 27-Aug. 2
1,690 BTC for $108.6 million during Aug. 3-9
Related: Standard Chartered revisits Bitcoin price target amid 20% rally
The company had been sitting on an unrealized loss on its Bitcoin holdings for several months this year. When the cryptocurrency crashed as low as $58,300 on June 30, the paper loss soared to approximately $13 billion—worth 20% of its total Bitcoin cost basis.
However, Bitcoin rose above $79,000 on Aug. 21 due to factors such as the Treasury's decision to at least double the amount of its longer-dated government debt buybacks, President Donald Trump's pro-crypto declarations, and the subsequent short squeeze.
Thanks to the Bitcoin rally, Strategy is no longer underwater on its holdings.
Right now, it holds 840,447 BTC which it acquired at an average price of $75,385. As Bitcoin is currently trading at $77,400, Strategy is no longer underwater on its holdings.
In fact, the company has approximately $1.69 billion in unrealized profit on its BTC holdings.
The MSTR stock hit the intraday high of $121.90 on Aug. 21, the highest level since June 11 when it reached as high as $121.10. The stock closed at $119.25 today, up 6% in a day.
Nonetheless, Strategy remains the world's largest Bitcoin treasury company.
Related: Jim Cramer recommends buying Bitcoin
This story was originally published by TheStreet on Aug 21, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.