Bitcoin Surges 33% Strategy's Holdings Now Worth $47.5 Billion

Michael Saylor, the chairman of Strategy, reacted to Bitcoin's recent price surge with a concise and impactful message. In a post, Saylor simply stated, "Bitcoin is Climbing," accompanied by an image of himself in a suit scaling a cliff. This message resonated strongly with the current market context, as Bitcoin had just surpassed $88,700 following a quick breakout the previous day. This jump came after a two-week period during which the price had been steadily increasing.

Saylor's post carried more significance than it initially appeared. Strategy's Bitcoin holdings now stand at 534,741 BTC, with an average cost basis of $66,631. At current levels, this position is up more than 33%, with a market value close to $47.5 billion. This is not just a paper gain; it is a validation of Strategy's investment strategy.

From a market structure perspective, Strategy, led by Saylor, remains a unique case. The company's stock is trading at $323.95, with a market cap of $84.7 billion. Over half of the company’s valuation—56%—is directly tied to its Bitcoin holdings. The NAV multiple of 1.785 suggests that investors are pricing in more than just the cryptocurrency on the balance sheet.

Saylor's three-word message is more than just a commentary on price action; it is a quiet confirmation that Strategy's bet on Bitcoin is paying off. Whether Bitcoin breaks $90,000 soon or not, Strategy's position has clearly turned the corner, validating their long-term investment strategy in the cryptocurrency.