Bitcoin's climb from around $62,000 to $80,000 within a week has pushed 69% of its circulating supply back into profit, according to CryptoQuant data cited by U.Today. Yet $617 billion of invested capital remains underwater, and the same rally has turned Strategy's Bitcoin treasury from a paper loss into billions in unrealized gains.
Bitcoin's price jumped from a low of around $62,000 to briefly touch $80,000 within a single week, pulling most holders back above their purchase price. Recent analysis on crypto analytics platform CryptoQuant shows that 69% of Bitcoin's supply is now sitting in profit.
Supply metric is not entirely bullish
A large profitable share usually signals confidence, since it means holders sit above their entry price. However, the broader picture is mixed: Bitcoin's supply in profit has stayed above 50% for most of the current cycle, dipping below that level for only 15 days before July's rally. Some of the current high share, therefore, reflects tokens that have stayed dormant for years rather than fresh buying.
$617 billion still underwater
Despite the rebound, $617 billion of the over $1 trillion invested in Bitcoin's supply is still at a loss. That gap shows a larger share of invested capital has yet to recover than the profit percentage alone suggests.
Bitcoin's rally lifts Strategy's MSTR stock
The same rebound has reshaped the fortunes of Michael Saylor's Strategy. MSTR shares jumped nearly 40% in one month, from around $82 to $140, as Bitcoin recovered from the $60,000 range to above $80,650.
Strategy held 840,447 BTC at an average cost of $75,385 each, a position that carried an estimated $9.5 billion paper loss when Bitcoin sat in the low-$60,000s. After Bitcoin moved above $80,000, the position turned into an estimated $4.2 billion to $4.7 billion unrealized profit.
Strategy also raised $2.01 billion by selling 18.26 million MSTR shares through its ATM program, placing around $1.59 billion into a new cash pool and spending $136.4 million to buy back 1.43 million STRC preferred shares. Bitcoin Wizard Adam Livingston has suggested MSTR could reach $1,000 if Bitcoin climbs to $500,000, though Strategy's close tie to Bitcoin means a sharp drop could erase the gains just as quickly.
Sources: U.Today, Coinpedia Fintech News
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