Strategy Reports $21 Billion Q3 Gain, Expands Bitcoin Holdings
- Strategy acquired 334 BTC for $28.7 million between October 1 and October 4, increasing its holdings to a record 848,000 BTC.
- The company repurchased $176.3 million of its Stretch preferred stock in the same period.
- Strategy reported a $20.91 billion gain on digital assets for the third quarter, with a deferred tax expense of $1.88 billion.
- The average cost per Bitcoin acquired last week was $85,838.80, approximately a nearly14% premium over Strategy’s average cost basis of $75,440.70.
- A total of $154.1 million for the stock buyback came from USD Cash balance and $22.2 million from interest earned on cash and short-term investments.
In recent transactions, Strategy significantly increased its Bitcoin holdings while prioritizing substantial buybacks of its own preferred stock over further Bitcoin purchases.
This strategic move not only sets a new record for Strategy’s Bitcoin treasury but also reflects the company’s focus on managing its financial structure effectively. (Source)
