Strategy Maintains 16% Gain on Bitcoin Holdings Despite Share Price Falling to $170
Strategy's stock has dropped over 40% year-to-date to approximately $170, down from near $300 in October. The company's Bitcoin holdings, acquired at an average cost of $74,430, show unrealized gains of roughly 16% with Bitcoin trading near $86,000. Institutional investors use Strategy's liquid options chain as a hedging instrument for cryptocurrency exposure, according to BitMine chairman Tom Lee.