Unrealized Loss

Strategy’s massive bitcoin position has swung back into an unrealized profit as BTC rallied sharply over five straight days. The rebound has also supported Strategy’s stock and improved sentiment around its preferred securities.

Sharplink received 5,000 ether from FalconX, marking its first ETH inflow in eight months as the market traded lower. The treasury firm still faces a steep unrealized loss despite holding more than 876,000 ETH.

Strategy’s unrealized Bitcoin loss has swelled past $13 billion, a figure larger than the market caps of hundreds of crypto assets. The imbalance has renewed debate over concentration risk, corporate treasury strategy and the opportunity cost of holding a single asset.