Executive Chairman Michael Saylor said he sees Bitcoin (BTC) at the beginning of a new bull market, a view he shared alongside Strategy Inc’s latest quarterly results.
Revenue was $125.4 million, down 3% from $128.7 million a year earlier, according to the company’s Oct. 29 results statement.
Under Strategy’s policy, Bitcoin fair-value changes are recognized in the period’s net income. The company said Accounting Standards Update 2023-08 requires those gains and losses to flow through quarterly earnings. That treatment records changes in Bitcoin’s value in earnings separately from revenue generated by sales. EconoTimes previously covered the quarterly result and its accounting treatment.
Net income was $2.79 billion in the year-earlier quarter, when operating income was $3.89 billion. Net income attributable to common shareholders reached $19.12 billion in the latest period after $419.6 million in preferred-stock dividends, Strategy reported.
Saylor said in the statement, “We’re at the beginning of the next bitcoin bull market.”
Strategy used a Bitcoin price of about $81,200 on Oct. 23 to value its position at $68.90 billion. A separate company tally put its holdings at 848,517 BTC on Oct. 25, with a total purchase cost of $64.02 billion, or an average of about $75,446 per coin.
Daily dividends on STRC are scheduled to begin Sunday, Nov. 1. Andrew Kang is scheduled to leave his executive vice president and chief financial officer roles Thursday, Nov. 5, and remain an adviser through Dec. 31. Chief Executive Phong Le will oversee finance and serve as principal financial officer during the transition. Reza Virasteh, Strategy’s executive vice president of operations, is scheduled to become CFO on Jan. 1, 2027, sharing the principal financial officer role with Le.
