Strategy Inc. Gains $3.9B in Q3 as Bitcoin Hits New High
Strategy Inc., led by Bitcoin enthusiast Michael Saylor, has announced a staggering $3.9 billion gain in the fair value of its Bitcoin holdings in the third quarter. This remarkable achievement is largely attributed to Bitcoin's recent surge to a new all-time high.
The company, which rebranded from MicroStrategy earlier this year, has been actively accumulating Bitcoin. It has acquired 640,031 BTC at an average price of less than $74,000. Over the weekend, these holdings were valued at approximately $79 billion.
To highlight its impressive returns, Strategy Inc. has decided to forgo its usual weekly Bitcoin purchase this week. Despite this pause, the company still faces a deferred tax expense of $1.12 billion on its unrealized gains.
Strategy Inc.'s Bitcoin strategy has undeniably paid off, with a $3.9 billion gain in the third quarter alone. As Bitcoin continues to break records, the company's holdings have grown significantly in value, solidifying its position as a major player in the cryptocurrency market.
