Strategy recorded a Bitcoin floating profit of 21 billion USD in the third quarter

Michael Saylor, the founder and executive chairman of the Bitcoin treasury company Strategy (formerly MicroStrategy), stated that driven by the rise in Bitcoin prices, the company recorded a book profit of $21 billion in digital assets for the third quarter, returning to profitability. As of October 4, the company holds 848,000 Bitcoins, valued at approximately $72.6 billion at current prices, along with $5.7 billion in dollar assets.

Last week, the company spent $28.7 million to acquire an additional 334 Bitcoins and repurchased $176 million of STRC preferred stock. Bitcoin prices rose over 40% in the third quarter, marking the best quarterly performance in years, with recent quotes around $85,655, and a 30-day increase of over 8%. Following the announcement, Strategy's stock (MSTR) rose nearly 2% during New York trading hours.

Previously, Strategy announced a plan that may periodically sell Bitcoin to raise up to $1.25 billion for dollar reserves, paying preferred stock dividends and interest expenses, or repurchases, after which its pace of Bitcoin purchases slowed. The company was forced to sell Bitcoin earlier this year, and CEO Phong Le told investors that the company has a "bulletproof balance sheet." In the quarterly financial report in July, Strategy recorded a loss of $8.22 billion.