Strategy Estimates a $20.9 Billion Q3 Bitcoin Gain, Reversing Its Second-Quarter Loss

AI summary of the source article

Strategy disclosed in a Form 8-K that it expects to record a $20.91 billion gain on its bitcoin holdings for the third quarter, following an $8.32 billion loss on digital assets in Q2. The carrying value of its bitcoin reached $70.82 billion at September 30, up from $49.67 billion at June 30. Between October 1 and October 4, Strategy purchased an additional 334 BTC for $28.7 million, bringing total holdings to 848,000 BTC. Additionally, the company repurchased over 1.77 million shares of its STRC preferred stock for $176.3 million.

Why it matters

The preliminary results illustrate the significant financial impact of bitcoin price volatility on corporate balance sheets holding large digital asset reserves.

Key facts

• Strategy estimates a $20.91 billion gain on its bitcoin for Q3, reversing an $8.32 billion loss in Q2.
• The carrying value of Strategy's bitcoin holdings reached $70.82 billion at the end of September, with total holdings standing at 848,000 BTC.
• Between Oct. 1 and Oct. 4, Strategy acquired 334 BTC for $28.7 million, averaging $85,839 per coin.