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Bitcoin cracked $77,000 on Friday. Just like that, Strategy’s massive bet stopped bleeding.
The cryptocurrency jumped more than 20% across two days, pushing above $77,400 before Wall Street closed out the week. That move was enough to flip Strategy’s enormous Bitcoin treasury into profit — a milestone the company’s investors had been waiting on for months. Per data from BitcoinTreasuries, Strategy’s cost basis on its 840,447 BTC sits at $75,385 per coin. With prices clearing that level, the company’s year-to-date profit jumped by roughly $450 million.
Not bad for a week’s work.
Strategy’s Fourth Bitcoin Sale in 2026
Earlier this month, Strategy sold 1,690 BTC. The proceeds went toward repurchasing 1.15 million shares of its preferred stock, a transaction valued at $108.6 million. It was the company’s fourth Bitcoin sale of 2026, and it rattled some observers who’d started wondering whether the firm was quietly unwinding its famous accumulation strategy.
Independent analyst William Clemente didn’t read it that way. He said the sale-and-repurchase move actually calmed fears rather than feeding them — that it showed the company could manage its position without panic-selling into weakness. Former CEO Michael Saylor had already shown some willingness to adjust holdings when conditions called for it. And current CEO Phong Le has said Strategy plans to return to buying Bitcoin before the year ends. So the sell wasn’t an exit. Probably more of a tactical shuffle.
Rising prices helped smooth over the optics, too. When Bitcoin is climbing fast, it’s a lot easier to sell a small slice and still come out looking smart.
Glassnode Data Points to a Support Floor
While Strategy was making headlines, onchain analytics platform Glassnode was busy mapping out what’s happening beneath Bitcoin’s price surface. Their analysis put a potential new support level below $70,000 — specifically, a dense cluster of cost-basis activity between $58,000 and $67,000.
The numbers are pretty striking. Around 3.44 million BTC now carry an onchain realized price somewhere in that $58,000-to-$67,000 band. Of those, 2.23 million BTC were added over just the past 11 weeks. That’s a lot of coins with a lot of holders who bought in at those levels — and who’d probably step in to defend their positions if prices started sliding back down.
In market terms, that kind of cost-basis clustering can act like a floor. It doesn’t guarantee anything. But it does mean a large population of Bitcoin holders would be sitting on losses if prices dropped into that zone, which tends to concentrate buying interest and slow declines.
Whether it holds under real pressure is another question entirely.
Breaking the 200-Day Moving Average
One technical level got a lot of attention this week: Bitcoin’s 200-day simple moving average, which sat at $68,967. Bitcoin broke through it during the rally. That matters because the 200-day SMA is one of those indicators traders actually watch — it’s often treated as the dividing line between a long-term uptrend and a prolonged downtrend.
Clearing it doesn’t mean Bitcoin’s problems are over. Markets are murky, and a single week doesn’t rewrite the whole story. But it’s the kind of move that shifts momentum readings and gets sidelined buyers thinking again.
The broader rally has a few things feeding it. Corporate treasury interest in Bitcoin hasn’t gone away — Strategy’s position alone is enormous enough to move sentiment. And the onchain data from Glassnode suggests a real base of holders sitting below current prices, not just speculative froth at the top.
Strategy itself hasn’t said much publicly about what comes next. No fresh disclosures, no detailed roadmap. Phong Le’s comment about returning to purchases is the clearest signal on the table right now.
The preferred stock repurchase — 1.15 million shares at $108.6 million — was the fourth Bitcoin-related sale the company has done this year. Each one has drawn scrutiny. Each time, the price has eventually bailed out the narrative.
Bitcoin’s cost basis for Strategy’s full 840,447-coin stack: $75,385. Current price as of Friday: above $77,400.
Frequently Asked Questions
What is Strategy’s cost basis for its Bitcoin holdings?
Per BitcoinTreasuries, Strategy’s average cost basis across its 840,447 BTC is $75,385 per coin, putting the treasury in profit once Bitcoin crossed $77,000.
Why did Strategy sell Bitcoin earlier in 2026?
Strategy sold 1,690 BTC to fund the repurchase of 1.15 million shares of its preferred stock, a transaction valued at $108.6 million — the company’s fourth Bitcoin sale of the year.
Why It Matters
The resurgence of Bitcoin above $77,000 not only marks a significant recovery for Strategy but also signals renewed optimism in the broader cryptocurrency market, which has faced considerable volatility in recent months. This milestone could attract more institutional interest, as a profitable position for such a large treasury may enhance confidence among investors wary of the market's fluctuations. Furthermore, this rebound underscores the potential for Bitcoin to regain its footing as a key asset, influencing trading strategies and investment flows in the crypto space.
