Strategy Inc. Trims Losses as Bitcoin Bounces Back

Bitcoin's rebound has brought relief to Strategy Inc., which had incurred significant losses when the cryptocurrency dipped to a monthly low of $62,553.

The business intelligence firm holds a total of 738,731 BTC as of its last acquisition, with an average price of each Bitcoin costing $75,862. However, when Bitcoin plummeted to its monthly low, Strategy's drawdown was approximately $10 billion at $9,846,545,499.

However, with the recent rally, Strategy has been able to trim a huge chunk of that loss. The price of BTC soared from a low of $71,282.33 to an intraday peak of $74,395.78, which is sufficient to minimize Strategy's losses on the crypto investment market.

As of this writing, Bitcoin has slipped and exchanges hands at $73,242.51, representing a 1.92% increase in the last 24 hours. The uptick has also revived the interest of traders, who buy whenever there is a rally and do not want to miss out on potential profits.