Strategy Inc., helmed by Executive Chairman Michael Saylor, announced on October 6th a shift in investment strategy, stating they will pause further acquisitions of Bitcoin
This decision follows the company’s reporting of substantial gains in the value of its existing Bitcoin holdings during the third fiscal quarter.
Saylor communicated via a post on X, highlighting that the company experienced an approximate $3.9 billion appreciation in its Bitcoin portfolio during Q3. Rather than committing to additional purchases, his message focused on the impressive performance of their existing investment.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is a Crypto Bull Run? (Animated Explainer + Prediction)
His post included a visual representation of past Bitcoin purchases. He commented:
No new orange dots this week, just a $9 billion reminder of why we HODL.
Strategy Inc.’s long-term investment has resulted in an accumulation of 640,031 BTC, with an average purchase price under $74,000 per BTC. As of October 5th, market valuations estimated the total value of their Bitcoin holdings to be approximately $79 billion.
A recent filing with the U.S. Securities and Exchange Commission (SEC) verified the $3.89 billion in unrealized profits for the third quarter. The filing also mentioned a deferred tax expense amounting to $1.12 billion.
Considering a subsequent $5.8 billion increase in gains after the close of the quarter, the firm’s overall value surge surpassed the $9 billion threshold.
On September 23rd, Saylor shared his perspectives regarding Bitcoin’s trajectory leading into 2025. Interested in learning more? Explore the complete report here.