Bitcoin (BTC) surged past $77,000 on Friday, marking its highest price since May 26 and pushing the corporate treasury of business intelligence firm Strategy back into profit.
Strategy, the company formerly known as MicroStrategy, is sitting on approximately $1.4 billion in unrealized profit on its massive Bitcoin holdings as the cryptocurrency's price surges.
Major cryptocurrencies, including Bitcoin, Ether, and Solana, surged dramatically as a massive wave of short liquidations fueled a mechanically driven rally.