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Saylor’s Strategy Gains $9 Billion, Skips New Bitcoin Purchase
Key Takeaways
- Michael Saylor's Strategy Inc. chose not to buy more Bitcoin this week after seeing a $3.9 billion gain in the third quarter;
- Saylor highlighted a $9B total increase in Bitcoin value, and opted to showcase growth over making new purchases;
- The firm holds 640,031 BTC, worth nearly $79 billion, bought at an average price below $74,000.
Strategy Inc., led by executive chairman Michael Saylor, announced on October 6 that the company will be skipping Bitcoin
The decision comes after the firm recorded an increase in the value of its Bitcoin assets during the third quarter.
Saylor shared in a post on X that the company gained approximately $3.9 billion in value from its Bitcoin during Q3. Instead of focusing on a new purchase, he chose to emphasize the overall performance of the investment.
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In his post, he referred to a visual showing previous Bitcoin acquisitions. He stated:
No new orange dots this week, just a $9 billion reminder of why we HODL.
Over time, Strategy Inc. has accumulated 640,031 BTC, with an average purchase cost under $74,000 per BTC. Based on market conditions as of October 5, the total value of the company's holdings was estimated to be close to $79 billion.
The firm’s recent filing with the US Securities and Exchange Commission (SEC) confirmed the $3.89 billion in unrealized gains for Q3. It also noted a deferred tax expense of $1.12 billion.
When accounting for a further $5.8 billion in gains after the quarter ended, the company’s total increase in value crossed the $9 billion mark.
On September 23, Saylor shared his thoughts on Bitcoin’s growth through the end of 2025. What did he say? Read the full story.