Strategy Reports Quarterly Profit on Bitcoin Rally
By Mathew Di Salvo
AI summary of the source article
Strategy returned to profit following a Bitcoin rally that delivered $21 billion in paper gains for the third quarter. According to founder Michael Saylor, the firm purchased an additional 334 bitcoins for $28.7 million and repurchased $176 million of its STRC preferred shares. Strategy's total treasury now stands at 848,000 BTC, worth approximately $72.6 billion, alongside $5.7 billion in USD assets. The rebound follows an $8.22 billion loss reported in July after cryptocurrency downturns. Strategy CEO Phong Le defended recent bitcoin sales under a capital reserve program, maintaining that the firm has established a resilient balance sheet.
Why it matters
The performance illustrates how large corporate digital asset treasuries experience massive balance-sheet volatility tied directly to Bitcoin price fluctuations.
Key facts
- Strategy posted $21 billion in digital asset paper gains following a Q3 Bitcoin rally of over 40%.
- The firm acquired 334 bitcoins for $28.7 million, bringing its total treasury to 848,000 BTC valued at around $72.6 billion.
- Strategy repurchased $176 million of its STRC preferred shares and holds $5.7 billion in USD assets.