Strategy Bitcoin Treasury Reaches Breakeven as BTC Price Exceeds $77K

Bitcoin (BTC) reached $77,000, bringing business intelligence firm Strategy's corporate treasury back to profitability. The cryptocurrency achieved its highest level since May 26, surpassing $77,400 before the close of the week's Wall Street trading. This surge pushed the price above Strategy's cost basis for its BTC holdings, which stands at $75,385.

Strategy, recognized as the world's largest corporate Bitcoin treasury company, saw its BTC/USD holdings increase by approximately 20% within a 48-hour period. Data from BitcoinTreasuries indicates that Strategy holds 840,447 BTC, with a year-to-date gain of about $450 million. The company recently sold 1,690 BTC between August 3 and August 9 to repurchase 1.15 million shares of its STRC preferred stock for $108.6 million, marking its fourth Bitcoin sale of 2026.

Concerns regarding the long-term viability of Strategy's Bitcoin investment strategy, which arose following the sales, are expected to diminish with the recent price increase. An independent crypto analyst, William Clemente, suggested that the company's willingness to sell BTC to repurchase STRC shares, combined with the current price impulse, further over-collateralizes its Bitcoin holdings. Strategy's current CEO, Phong Le, stated in an August interview that the company plans to resume Bitcoin purchases before the end of the year.

Amid Bitcoin‘s volatile upward movement, on-chain analytics platform Glassnode identified a new support level below $70,000. Approximately 3.44 million BTC have an on-chain cost basis, or realized price, between $58,000 and $67,000. Of this, 2.23 million BTC, representing about 11% of the total supply, were acquired over the past 11 weeks. Rafael Schultze-Kraft, co-founder of Glassnode, noted that this represents the densest cost-basis cluster below the spot price, indicating a key potential support zone during any market retracement.

BTC/USD successfully breached several significant resistance levels this week, including its 200-day simple moving average (SMA) at $68,967. Reclaiming this level is considered crucial for ending the long-term downtrend in Bitcoin's price.