Strategy Shares Jump 10% as 781,000 Bitcoin Bet Returns to Profit
Strategy Inc shares jumped 10% to a mid-January high after Bitcoin climbed 4.1%, pushing its 781,000-coin treasury, acquired at an average $75,577 cost, back into the black for the first time in three months. That move restored a $60.5 billion valuation and followed Iran’s Strait of Hormuz reopening.
1. Stock Performance on April 17
Strategy Inc shares surged 10% to $164 by 1:30 p.m. ET and peaked above $173, marking the highest level since mid-January and the company’s best daily performance in over a month.
2. Bitcoin Treasury Profit Turn
After accumulating roughly 781,000 Bitcoin at an average price of $75,577 per coin, the firm’s digital holdings regained a $60.5 billion valuation, returning to profitability for the first time in three months.
3. Geopolitical Catalysts and Outlook
Iran’s declaration that the Strait of Hormuz would remain fully open underpinned a 4.1% Bitcoin rally, underscoring Strategy’s sensitivity to broader risk sentiment and raising questions about the sustainability of its recent gains amid lingering market caution.