The cryptocurrency edged up 1.4% to $64,740.8
Bitcoin rose on Thursday, caught up in a broader rally in risk assets as the artificial intelligence trade bounced back after quarterly earnings from tech companies. Gains were capped by the U.S. central bank’s hawkish chord, and Strategy’s quarterly results.
The cryptocurrency edged up 1.4% to $64,740.8 by 21:49 GMT.
Strategy reported a net loss of $24.45 per share for the June quarter ended, compared to earnings of $32.60 per share in the same period last year.
The company’s operating loss of $8.33 billion for the quarter included an unrealized loss of $8.32 billion on its digital assets, compared to an unrealized gain of $14.05 billion in the second quarter of 2025.
Strategy began selling some of its massive Bitcoin stockpile this year for the first time in nearly four years. The crypto has traded well below MSTR’s $75,400 average acquisition cost.
Strategy had already logged a major loss on its digital asset holdings in the past two quarters.
The company made zero Bitcoin purchases in the four weeks leading up to its earnings, while actively selling shares to build up its cash reserves. It had earlier this year sold some of its Bitcoin holdings to meet increasing capital and debt obligations, given that it has funded its massive 843,775 Bitcoin reserve through debt and share issuances.
Strategy held approximately 846,000 bitcoins as of the end of the quarter, with a market value of $54.77 billion based on a bitcoin price of $64,915 as of July 27.
Bitcoin’s advance was kept in check after the U.S. central bank hiked interest rates as expected on Wednesday evening. But the hold was marked by at least three members of the central bank calling for a hike, in the face of increasingly sticky inflation.
Higher rates bode poorly for speculative, non-yielding plays like Bitcoin.
Comments (0)
Average Rating: No ratings yet/5 (0 reviews)
No comments yet. Be the first to comment!