Bitcoin (BTC) has soared past the $77,000 mark for the first time since its steep decline on February 5th when it fell to around $60,000. This significant price movement is beneficial for Strategy (MSTR), which holds a substantial amount of bitcoin publicly. The company’s average acquisition cost was $75,577, putting it back into profit with Bitcoin’s current valuation.
Today, MSTR shares have climbed by 8% and are trading above their 200-week moving average, an indicator that tracks long-term trends over approximately four years. Since its low point in early February, BTC has surged more than 25%, now surpassing its 100-day moving average (DMA) of $74,774. Previous attempts to breach this threshold were unsuccessful and led to further price declines, lending credibility to the recent upward trend.
On February 4th, Bitcoin briefly peaked at $76,700 before falling again. An attempt at recovery on March 17th also faltered at $76,013, making its current breakout above $76,300 particularly significant.