Bitcoin Nears Strategy's Average Cost; Schiff Says Gold Has Beaten It

what happened

Brave New Coin reports that bitcoin traded near $75,955 on November 7, with a market value of about $1.5 trillion. Over the past day the token slipped 0.16%, while losses reached 1.89% for the week and 8.62% for the month.

The price move has brought Strategy's holdings close to break-even. According to an SEC filing dated November 2, the company held 849,327 BTC as of November 1, with an average purchase price of $75,451 per coin. At the November 7 level, its unrealized gain stood at roughly $428 million, about 0.67% above total cost.

Peter Schiff used the situation to press his case for gold. He said investors who chose the metal over bitcoin in August 2020 would have roughly doubled their money. He also challenged Michael Saylor's forecast of about 30% yearly bitcoin gains, a view Saylor voiced in a CoinDesk interview in December 2025.

why it matters

The average purchase price reflects trades made over six years, so proximity to it does not directly measure Strategy's returns for shareholders, which also depend on financing and debt costs. The gold comparison depends heavily on the starting date chosen, and the dispute largely reflects differing views on the roles of bitcoin and the metal.

market impact

Bitcoin and Strategy shares: spot price near the company's average cost keeps focus on its holdings' profitability

tags

instruments

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