Strategy Reports $21 Billion Gain on Bitcoin Rally
Strategy, the Nasdaq-listed company formerly known as MicroStrategy, has reported a quarterly profit fueled by a significant rally in Bitcoin’s price. The firm recorded paper gains of $21 billion in the third quarter of 2026, as the leading cryptocurrency surged over 40% during the period. Michael Saylor, the company’s founder and chairman, highlighted this recovery, noting that the firm’s stock (MSTR) saw a nearly 2% increase in recent trading.
Last week, Strategy added 334 BTC to its holdings, spending $28.7 million, according to a filing. The company also repurchased $176 million of its STRC preferred shares. As of October 4, 2026, Strategy holds 848,000 BTC, valued at approximately $72.6 billion at the current price of nearly $85,655 per BTC. Despite a slight dip in stock value earlier in the year, the recent Bitcoin rally has bolstered the firm’s position.
The company’s stock has faced challenges since Bitcoin’s price plummeted at the end of 2025 and the first half of 2026. However, Strategy has reassured investors about its financial health, with CEO Phong Le emphasizing a “bullet-proof balance sheet.” In July, the firm reported an $8.22 billion loss, but Le downplayed concerns, attributing the loss to paper valuations rather than fundamental issues.
Strategy has also adopted a flexible approach to managing its Bitcoin reserves, occasionally selling BTC to generate up to $1.25 billion in proceeds. This strategy aims to fund preferred stock dividends, interest expenses, and share repurchases. Despite past sell-offs, the company remains the world’s largest corporate holder of Bitcoin, continuing to leverage its position in the cryptocurrency market.