Strategy’s Bitcoin Bet Just Flipped From a $13 Billion Hole to a $1.4 Billion Gain

By Isaac • August 21, 2026 11:21 pm •

Strategy’s enormous Bitcoin bet is back above water—and the speed of the reversal shows why the company remains one of the market’s most powerful high-risk proxies for BTC.

After spending July deep in the red, the world’s largest corporate Bitcoin holder is now sitting on an estimated $1.4 billion unrealized gain. It took a five-day Bitcoin rally to erase what had been a roughly $13 billion paper loss only weeks earlier.

According to Decrypt, Strategy’s 840,447 BTC were worth about $64.97 billion with Bitcoin trading near $77,000. The company paid an aggregate $63.36 billion for that reserve, putting it roughly 2.4% above cost.

That is a remarkable turnaround from July, when Bitcoin fell toward $58,000 and