Strategy Reports Quarterly Profit on Bitcoin Rally

According to Bitcoin Magazine, bitcoin treasury firm Strategy returned to profitability after reporting paper gains of $21 billion in the third quarter of 2026. Founder and chairman Michael Saylor stated that the rising price of the leading cryptocurrency drove the gains, following a bitcoin price increase of over 40% during the third quarter.

In a Monday filing, the company reported spending $28.7 million to acquire 334 bitcoins last week, bringing its total holdings to 848,000 BTC valued at approximately $72.6 billion. Additionally, Strategy repurchased $176 million of its STRC preferred shares. Strategy, formerly known as MicroStrategy, previously slowed down its bitcoin purchases and initiated a program allowing it to sell BTC to generate up to $1.25 billion in proceeds for USD reserves, fund dividends, interest expenses, and repurchases. CEO Phong Le defended the company's prior bitcoin sales, highlighting a "bullet-proof balance sheet" after previously posting an $8.22 billion loss in July's quarterly earnings.

Strategy's stock experienced early trading gains in New York before dipping slightly to trade nearly 2% higher. Bitcoin's price recently stood near $85,655, remaining flat over a 24-hour period but rising over 8% across a 30-day period.