Oil prices turn lower as Bessent says U.S. may have Iran deal "today or tomorrow"
Investing.com -- Bitcoin rose on Thursday, caught up in a broader rally in risk assets as the artificial intelligence trade roared back to life thanks to quarterly earnings from Microsoft. Gains were capped by the Federal Reserve’s hawkish chord, U.S. attacks on Iran, and Strategy’s quarterly results.
The world’s largest cryptocurrency edged up 1.4% to $64,740.8 by 17:49 ET (21:49 GMT).
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Strategy swings to quarterly loss, Bitcoin losses pile up
Strategy reported a net loss of $24.45 per share for the June quarter ended, compared to earnings of $32.60 per share in the same period last year.
The company’s operating loss of $8.33 billion for the quarter included an unrealized loss of $8.32 billion on its digital assets, compared to an unrealized gain of $14.05 billion in the second quarter of 2025.
Strategy began selling some of its massive Bitcoin stockpile this year for the first time in nearly four years. The crypto has traded well below MSTR’s $75,400 average acquisition cost.
Strategy had already logged a major loss on its digital asset holdings in the past two quarters.
The company made zero Bitcoin purchases in the four weeks leading up to its earnings, while actively selling shares to build up its cash reserves. It had earlier this year sold some of its Bitcoin holdings to meet increasing capital and debt obligations, given that it has funded its massive 843,775 Bitcoin reserve through debt and share issuances.
Strategy held approximately 846,000 bitcoins as of the end of the quarter, with a market value of $54.77 billion based on a bitcoin price of $64,915 as of July 27.
Bitcoin gains capped by rate uncertainty, Iran tensions
Bitcoin’s advance was kept in check after the Federal Reserve hiked interest rates as expected on Wednesday evening. But the hold was marked by at least three members of the central bank calling for a hike, in the face of increasingly sticky inflation.
Fed Chair Kevin Warsh also provided scant details on the bank’s plans to maintain its 2% annual inflation target, although he did reiterate its commitment to the target, sparking fears that rates will rise this year.
Higher rates bode poorly for speculative, non-yielding plays like Bitcoin.
Broader risk aversion also weighed on crypto markets as the U.S. launched another wave of strikes on Iran late-Wednesday, drawing retaliatory attacks from Tehran.
The latest attacks come after U.S. President Donald Trump warned that the U.S. would hit Iran very hard over recent attacks on U.S. bases in the Middle East.
The attacks sparked a sharp increase in oil prices, driving persistent concerns that high energy-driven inflation will elicit more interest rate hikes from major global central banks.
Crypto price today: altcoins mostly higher, tracking Bitcoin
Broader crypto prices traded largely higher in tandem with Bitcoin.
World no.2 crypto Ether gained 1.2% to $1,919.75, while XRP added 0.9%.
Solana climbed 1.8% while Cardano surged 4.6%. BNB rose 3.9%.
Memecoins Dogecoin and $TRUMP improved 1.1% each.
Ambar Warrick and Vahid Karaahmetovic contributed to this article
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