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Strategy's Net Profit Drops to $2.8 Billion in Q3, Bitcoin Holdings Growth Slows
Summary: According to reports, the cryptocurrency treasury company Strategy (MSTR) saw its net profit drop to $2.8 billion in the third quarter, significantly lower than the record $10 billion in the previous quarter, but still slightly above analysts' expected earnings per share of $8.42 (expected $8.15). The decline in Bitcoin prices led to its market value/Bitcoin ...
According to reports, the cryptocurrency treasury company Strategy (MSTR) saw its net profit drop to $2.8 billion in the third quarter, significantly lower than the record $10 billion in the previous quarter, but still slightly above analysts' expected earnings per share of $8.42 (expected $8.15). The decline in Bitcoin prices led to its market value/Bitcoin net asset value ratio (mNAV) dropping to around 1.2 times, the lowest since March 2023. The company added approximately 43,000 Bitcoins during the quarter, bringing its total holdings to 640,000 Bitcoins, valued at nearly $69 billion, marking the slowest growth quarter this year. Strategy also raised its variable rate preferred stock STRC dividend to 10.5% to maintain investor demand and continue purchasing Bitcoin.
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Link: Strategy's Net Profit Drops to $2.8 Billion in Q3, Bitcoin Holdings Growth Slows [Copy]
