Michael Saylor, founder and chairman of Bitcoin treasury company Strategy, said the company returned to profitability last quarter with $21 billion in unrealized gains as the price of the leading cryptocurrency rose.
The Nasdaq-listed company also spent $28.7 million last week to purchase 334 bitcoins. According to filings submitted on Monday, Strategy's stock rose during early trading in New York before slightly retracing; it recently traded up nearly 2%.
Bitcoin's price rose over 40% in the third quarter of this year, recording its best three-month performance in years.
This leading digital asset recently traded at approximately $85,655, showing little change over the past 24 hours but rising over 8% in the last 30 days.
Strategy also stated that the company repurchased $176 million in STRC preferred shares. As the world’s largest corporate Bitcoin holder, the company currently holds 848,000 BTC, valued at approximately $72.6 billion at current prices.
Since the significant drop in Bitcoin's price at the end of 2025 and in the first half of this year, Strategy's stock price has been under pressure.
Investors buy shares of Strategy to gain increased exposure to this cryptocurrency. They can also earn returns through the company’s digital credit products.
Strategy (formerly MicroStrategy) slowed its Bitcoin purchases after announcing a plan to occasionally sell BTC, raising up to $1.25 billion for U.S. dollar reserves, as well as for paying preferred stock dividends and interest expenses, or for repurchases.
This year, the company was even forced to sell Bitcoin. Since then, Strategy has defended these sales, with CEO Phong Le telling investors that the company now has an "unbreakable balance sheet."
In its quarterly earnings report released in July, Strategy reported a loss of $8.22 billion. However, Le assured investors that the company’s current book losses are not a cause for concern.