Bitcoin (BTC) Price Today: Michael Saylor’s Strategy Reports $8.3B Loss as BTC Slides Below $64K

The BTC move comes shortly after Strategy reported an $8.33 billion operating loss for the second quarter of 2026, including an $8.32 billion unrealized loss on its digital assets. The company also recorded an $8.22 billion net loss for the period, largely reflecting the decline in Bitcoin’s fair value during the quarter.

Despite the large accounting loss, Strategy continued to expand its Bitcoin treasury during the quarter. The company said it increased its holdings by 11%, reduced convertible debt and strengthened its liquidity position.

Bitcoin Price Holds Near $64K as Strategy Reports Q2 Loss

Bitcoin is trading around $63,604, according to the market data referenced in the analysis, putting the cryptocurrency below the $64,000 threshold. The latest move leaves BTC close to an important short-term support area after several sessions of consolidation.

Bitcoin (BTC) was trading at around $63,789, down 1.22% in the last 24 hours at press time. Source: Bitcoin price via Brave New Coin 

TradingView’s technical summary presents a mixed picture. Its oscillator panel is rated Neutral, with two sell signals, eight neutral readings, and one buy signal. The 14-period RSI stands at 47, while Stochastic %K is around 35 and Williams %R is near -78.

Momentum and MACD are generating sell signals, while Stochastic RSI is showing a buy signal. The combination suggests that short-term momentum has weakened but has not reached an extreme condition that would independently confirm a major reversal.

The moving-average picture is less constructive. TradingView’s summary shows 13 sell signals, one neutral reading and one buy signal, with most short- and long-term averages positioned above Bitcoin’s current price. The 50-period SMA is the notable exception.

That leaves BTC below several major moving averages and keeps short-term trend pressure tilted lower, even as the oscillator readings remain broadly neutral.

Michael Saylor’s Strategy Posts $8.3B Operating Loss

Strategy’s second-quarter results put the impact of Bitcoin’s price volatility directly into its financial statements.

The company reported an $8.33 billion operating loss, compared with operating income of $14.03 billion in the same quarter of 2025. The digital-asset component accounted for almost the entire swing, with an $8.32 billion unrealized loss compared with a $14.05 billion unrealized gain a year earlier.

Strategy reported an $8.22 billion Q2 2026 net loss, largely driven by an $8.32 billion unrealized markdown on its 843,775 BTC holdings following Bitcoin’s price decline. Source: @FINANCIERNEWS via X

Strategy also posted an $8.22 billion net loss, equivalent to $24.45 per diluted common share. A year earlier, it had recorded $10.02 billion in net income, or $32.60 per diluted share.

The size of the loss does not mean Strategy sold $8.3 billion worth of Bitcoin. Much of the figure represents changes in the fair value of the company’s Bitcoin holdings.

Strategy adopted accounting rules that require it to measure Bitcoin at fair value and recognize changes in that value through net income or loss. As a result, a decline in BTC during a reporting period can create a substantial unrealized loss even when the company continues to hold its coins.

Strategy Revenue Rises 6.9% as Bitcoin Holdings Expand

Strategy’s underlying software business delivered a more modest result. Revenue reached $122.4 million, up 6.9% from $114.5 million a year earlier. Gross profit was $81.6 million, representing a 66.6% gross margin.

Michael Saylor highlighted Strategy’s 11% increase in Bitcoin holdings to 846,000 BTC, alongside an 18% reduction in convertible debt, a 12% rise in USD reserves, and 5% growth in Bitcoin per share. Source: Michael Saylor via X

The quarterly figures therefore highlight the different forces affecting Strategy. Its software operations continued to generate revenue, while the much larger Bitcoin treasury produced significant accounting volatility as the cryptocurrency’s market value declined.

Strategy’s management also emphasized improvements to its balance sheet.

“In the second quarter of 2026, Strategy strengthened its balance sheet while navigating a meaningful Bitcoin price decline,” President and CEO Phong Le said in the company’s earnings release. He pointed to the increase in Bitcoin holdings, the reduction in convertible debt, the larger USD reserve and the rise in Bitcoin Per Share.

Strategy Holds 843,775 BTC at $75,476 Average Cost

Strategy remained the world’s largest corporate Bitcoin holder following the quarter.

As of July 26, 2026, the company reported 843,775 BTC, representing 25% growth year to date. The holdings had an original cost basis of $63.69 billion and a market value of approximately $54.77 billion based on a Bitcoin price of $64,915 on July 27. The average acquisition cost was approximately $75,476 per BTC.

The difference between that average cost and the prevailing Bitcoin price helps explain the pressure on Strategy’s reported results.

The company nevertheless reported a 4.5% BTC Yield year to date and a BTC Gain of 29,997 BTC under its own key performance indicators. Strategy said its BTC Gain represented approximately $1.95 billion based on the July 27 Bitcoin market price.

These metrics require context. Strategy itself cautions that BTC Yield, BTC Gain and Bitcoin Per Share are supplementary measures rather than conventional financial performance, valuation or liquidity metrics. They also do not account fully for claims from debt and preferred-stock holders against the company’s assets.

Michael Saylor Signals a More Flexible Bitcoin Strategy

Strategy’s approach to Bitcoin sales has also evolved. The company established a BTC Monetization Program that authorizes Bitcoin sales to help fund its USD reserve, preferred-stock dividends, interest expenses and certain share repurchases. Strategy reported approximately $218.4 million of Bitcoin sales year to date through July 26.

Strategy said it will sell Bitcoin opportunistically when market conditions are favorable, using the proceeds to replenish USD reserves and meet shareholder obligations. @BSCNews via X

That represents a notable change from the company’s earlier reputation for avoiding Bitcoin sales. Strategy now has a framework that allows it to monetize part of its holdings when it needs liquidity for corporate obligations.

Michael Saylor described the company’s broader strategy as an evolution toward a more diversified capital-management model.

“In the midst of this phase of muted Bitcoin sentiment and market skepticism, we continue to evolve our business model,” Saylor said. He added that the company wants to restore its preferred stock’s trading conditions and maintain liquidity.

Strategy’s latest filing shows that the company has already used the program to fund part of its preferred-stock dividend obligations. The board has authorized up to $1.25 billion in Bitcoin sales for the USD reserve and related financial requirements.

Strategy Builds $3.75B USD Reserve

Liquidity has become a central part of Strategy’s capital-management strategy.

The company said its USD reserve had grown to $3.75 billion, enough to cover more than 2.1 years of preferred-stock dividend payments and interest obligations. Strategy also raised $7.53 billion through STRC issuances year to date.

Strategy additionally repurchased approximately 288,930 STRC shares between July 20 and July 26 for about $25 million. The purchases were made at an average price of $86.53 per share, representing a discount to the $100 stated amount.

The company also repurchased $1.5 billion of convertible notes in May for approximately $1.38 billion, reducing the aggregate principal amount of those notes from $8.21 billion to $6.71 billion.

The moves show that Strategy is using more of its capital-market flexibility to manage obligations while maintaining one of the largest Bitcoin treasury positions in the corporate sector.

Bitcoin Price Prediction: Key Support and Resistance Levels

Bitcoin’s technical structure remains mixed but leans cautious.

At around $63,604, BTC is testing an area close to the $63,500 level highlighted in the supplied technical framework. The broader classic pivot structure places support within a wide region extending toward approximately $53,000, while the immediate price area remains important for short-term direction.

Bitcoin remains range-bound between strong demand and supply zones, with a rejection from the Golden Zone reinforcing seller resistance while buyers continue defending lower support. Source: TheZimpact on TradingView

The indicator readings do not currently provide a strong directional confirmation. RSI at 47 is close to the midpoint of its range, while Stochastic %K around 35 indicates weaker momentum without being deeply oversold. Williams %R at -78 is closer to oversold territory, but by itself does not establish that a durable price floor has formed.

The moving averages remain the more prominent bearish signal. With most 10- to 200-period averages above the current Bitcoin price, BTC faces several layers of overhead resistance.

A sustained recovery above those averages would improve the technical structure. Conversely, continued trading below them would leave the market vulnerable to another test of lower support.

Bitcoin Price Today: Strategy Loss Adds to BTC Market Focus

Strategy’s $8.33 billion operating loss arrives at a sensitive point for Bitcoin. The company’s average acquisition price of about $75,476 is substantially above the current market level, while its balance sheet remains heavily linked to BTC’s price.

That relationship makes Strategy’s financial results closely watched by Bitcoin investors, although the company’s unrealized accounting loss should not be confused with an equivalent cash loss.

For Bitcoin itself, the immediate technical picture remains less dramatic than Strategy’s headline quarterly loss. RSI is neutral, several oscillators are mixed, and the cryptocurrency continues to trade within a broad consolidation range.

The key issue is whether BTC can regain higher technical levels while maintaining support around the current price region. A recovery would need to overcome the moving-average resistance currently weighing on the market. A sustained decline, meanwhile, could bring deeper support zones back into focus.

Strategy’s results add another layer to that backdrop. The company continues to hold more than 843,000 BTC, but its new monetization framework means Bitcoin sales can now form part of its liquidity strategy.

For now, Bitcoin’s price remains the central variable. Strategy’s $8.3 billion quarterly loss demonstrates how sharply BTC volatility can affect the company’s reported earnings, while its expanding reserve and revised capital strategy show that management is preparing to operate through periods of significant price fluctuation.