MicroStrategy Returns to Profitability on Bitcoin Rally, Holdings Reach 848,000 BTC
MicroStrategy, now the largest publicly traded corporate Bitcoin holder, has returned to profitability after a late-summer Bitcoin rally. The company's digital assets increased in value by around $21 billion, ending four consecutive quarters of losses. The third-quarter earnings report showed an unrealized gain of $20.91 billion, with a deferred tax expense of $1.88 billion.
Strategy's Bitcoin holdings now stand at 848,000 BTC, exceeding the previous record. The company purchased 334 additional BTC between October 1 and 4, bringing its total holdings to a record high. The acquisition extended its weekly buying streak to three weeks and pushed its holdings above the previous record.
The company's Bitcoin position is now worth around $73 billion, based on the valuation cited in the reports. Strategy had paid an average of around $75,578 per Bitcoin, compared to the market price of around $64,915 on June 30. The subsequent price recovery reversed the direction of its accounting gains and losses during the third quarter.