2
Bitcoin (BTC) hit $77,000 on Friday as business intelligence company Strategy’s corporate treasury returned to profit.
Key points:
- Bitcoin reaches its highest level since May 26 as it revisits $77,000.
- Price returns above the cost basis for Strategy’s BTC corporate treasury at $75,385.
- Around 11% of the BTC supply constitutes a new band of support below $68,000.
Strategy out of the red with Bitcoin at highest since May
Data from TradingView showed new local highs above $77,400 prior to the week’s final Wall Street open.
BTC/USD one-day chart. Source: Cointelegraph/TradingView
Now up around 20% in 48 hours, BTC/USD saw little by way of consolidation as it reclaimed a key level for Strategy, the world’s largest corporate Bitcoin treasury company. Data from monitoring resource BitcoinTreasuries puts the cost basis for Strategy’s holdings of 840,447 BTC at $75,385, currently with a year-to-date gain of approximately $450 million.
Source link
