Strategy's Bitcoin Bet Turns Green After Brutal $11 Billion Wipeout

MicroStrategy’s bitcoin position has returned to an unrealized profit after BTC rallied following the reopening of the Strait of Hormuz. The firm now holds 780,897 BTC at an average cost of $75,577, with BTC trading above roughly $77.8k and the stash valued near $60.8 billion — a $1.8 billion (≈3%) unrealized gain. The article highlights how aggressive, leveraged accumulation (including Q1 2026 buys at a VWAP near $80,929 financed via debt and preferred sales) raised the company’s cost basis and diluted common equity, leaving its financial health highly dependent on Bitcoin’s volatile price. While the green print provides short-term relief, the position remains vulnerable to sharp downside moves that could erase gains.