Strategy Returns to Profit as Bitcoin Rally Boosts Paper Gains by $21B

After the rising price of the leading cryptocurrency produced $21 billion in paper gains last quarter, Bitcoin treasury company Strategy has returned to profitability, founder and chairman Michael Saylor said.

According to a Monday filing, the Nasdaq-listed firm spent $28.7 million on 334 bitcoins last week. MSTR shares rose in early New York trading before edging down; the stock was lately trading nearly 2% higher.

Bitcoin's price surged more than 40% during the third quarter of 2026, marking its strongest three-month period in years.

Strategy reports a $21 billion gain on digital assets in Q3 2026. Last week, we acquired 334 $BTC and repurchased $176M of $STRC. As of 10/4/26, we hold 848,000 BTC and $5.7B of USD Assets. $MSTR https://t.co/jvwiJahdMm

— Michael Saylor (@saylor) October 5, 2026

The leading digital asset's price stood at nearly $85,655 recently, flat over 24 hours but up more than 8% over 30 days.

Strategy said it repurchased $176 million of its STRC preferred shares. The firm, the largest corporate bitcoin holder, owns 848,000 BTC, worth roughly $72.6 billion at current prices.

MSTR stock has suffered since bitcoin's price dropped at the end of 2025 and during the first half of 2026.

Investors purchase Strategy shares for amplified exposure to the cryptocurrency. They can also earn a yield through its digital credit offerings.

After unveiling a program that allows it to periodically sell BTC to raise up to $1.25 billion for the USD reserve, as well as to fund preferred stock dividends, interest costs or share buybacks, Strategy — previously MicroStrategy — reduced its pace of bitcoin purchases.

Earlier this year, the company was forced to sell bitcoin. Since then, Strategy CEO Phong Le has defended the sales, telling investors the firm now has a “bullet-proof balance sheet.”

In July, Strategy posted a $8.22 billion loss in its quarterly earnings. However, Le assured investors that the unrealized loss at the time was not a concern.