Strategy's Bitcoin Near Break-Even as Price Tests $75,451
Strategy, the largest corporate holder of bitcoin, has seen its vast treasury drift back to break-even after the latest sell-off in the cryptocurrency.
Bitcoin traded at about $75,955 on 7 November, barely above the $75,451 average price Strategy paid for its coins, according to a filing with the US Securities and Exchange Commission published on 2 November. The company held 849,327 bitcoin at 1 November after buying 811 more coins for about $65.5 million, at a total cost of $64.08 billion including fees. At the 7 November price, the holding was worth about $64.51 billion, leaving an unrealised gain of roughly $428 million, or 0.67 percent.
The narrow cushion has drawn attention because Strategy began buying bitcoin in August 2020, when it was still called MicroStrategy, with an initial purchase of 21,454 coins for $250 million. Since then it has kept adding to the pile through equity offerings and other financing, turning the software company into a closely watched proxy for the bitcoin price.
Gold investor Peter Schiff, a long-standing bitcoin critic, highlighted the milestone, contrasting bitcoin's performance with gold, which has risen about 112.5 percent since August 2020, from about $1,915.79 an ounce to about $4,070.59 on 6 November. Schiff also pointed to Strategy executive chairman Michael Saylor's December 2025 expectation that bitcoin would rise about 30 percent a year for the next 20 years, a pace the recent correction has put out of reach for now.
Strategy's shares closed at $128.93 on Friday, and the company has not reported selling any of its bitcoin. Its average purchase price is a weighted average across hundreds of transactions, not a single investment, and it does not by itself determine the return on the company's shares.
[Source: bravenewcoin.com](https://bravenewcoin.com/insights/bitcoin-vs-gold-peter-schiff-highlights-strategys-75-5k-cost-basis-and-missed-30-return-target) | [Source: en.coin-turk.com](https://en.coin-turk.com/bitcoin-trades-near-strategys-average-cost-as-gold-doubles-since-2020/)
