Bitcoin's Surge to $77,000 Puts Strategy in the Black with 8% Gain

The price of bitcoin has surpassed $77,000, marking a significant milestone and pushing Strategy, the largest public holder of bitcoin, back into profitability. With an average purchase price of $75,577, the company's holdings are now in the black. Following a 25% rally, bitcoin is trading above its 100-day moving average of $74,774, having previously experienced rejections at this level. Strategy's stock has jumped 8% and is now trading above its 200-week moving average, a key long-term trend indicator. The current breakout above $76,300 is particularly notable given the previous failed attempts to surpass this level on February 4 and March 17.