Analyst: BTC Reclaims Strategy's 2026 Cost Basis Line, but Purchases Since 2025 Remain Underwater

October 29 — Analyst Darkfost noted that Bitcoin's price has recovered above Strategy's 2026 cost basis line, but purchases made since 2025 remain at a loss.

Strategy currently holds 848,517 BTC, with an overall average cost of about $75,446. Bitcoin today climbed above Strategy's 2026 cost line of $78,900. However, if all purchases since 2025 are combined with a sale near this summer's low, the blended cost is still about $90,600, meaning the current price leaves those holdings underwater. After pausing for several weeks, Strategy has resumed buying (there were no new purchases last week). The company's 1-year return is about 27.6%, and its 10-year return is about 60.3%.