Strategy Bitcoin treasury hits breakeven point as BTC price passes $77K

Bitcoin (BTC) hit $77,000 on Friday as business intelligence company Strategy’s corporate treasury returned to profit.Key points:Bitcoin reaches its highest level since May 26 as it revisits $77,000.Price returns above the cost basis for Strategy’s BTC corporate treasury at $75,385.Around 11% of the BTC supply constitutes a new band of support below $68,000.Strategy out of the red with Bitcoin at highest since MayData from TradingView showed new local highs above $77,400 prior to the week’s final Wall Street open.BTC/USD one-day chart. Source: Cointelegraph/TradingViewNow up around 20% in 48 hours, BTC/USD saw little by way of consolidation as it reclaimed a key level for Strategy, the world’s largest corporate Bitcoin treasury company. Data from monitoring resource BitcoinTreasuries puts the cost basis for Strategy’s holdings of 840,447 BTC at $75,385, currently with a year-to-date gain of approximately $450 million.Strategy Bitcoin treasury cost basis data. Source: BitcoinTreasuriesAs Cointelegraph reported, between Aug. 3 and Aug. 9, Strategy opted to sell a small portion of its treasury worth 1,690 BTC to repurchase 1.15 million shares of its STRC preferred stock for $108.6 mil...