5 things we learned from Michael Saylor’s Strategy earnings call

Core Insights - Strategy reported a significant increase in net income to $2.8 billion for Q3, with diluted EPS of $8.42, surpassing analyst expectations of $8.15 [1] - The company's Bitcoin holdings rose to 640,808 BTC, valued at approximately $71 billion, representing over 3% of all Bitcoin ever created [1] Financial Performance - Year-to-date, Strategy has raised $19.8 billion in capital primarily for Bitcoin acquisitions, maintaining a fully unencumbered balance sheet [2] - The company's GAAP profit has been substantial, with over $8 billion in positive earnings across the last four quarters [5] Bitcoin Holdings and Metrics - The Bitcoin per share metric increased to 41,370 satoshis per share as of October 26, up from 39,716 on July 31, indicating continued growth in Bitcoin holdings per share [4] - Digital assets on the balance sheet grew to $73.2 billion in Q3 from $64.4 billion in Q2, reflecting $3.9 billion in fair-value gains and approximately $5 billion in additional BTC purchases [6] Market Position and Ratings - Strategy holds the title of the world's largest corporate Bitcoin treasury, with its BTC holdings solidifying its market dominance [1] - The company received its first public issuer rating from S&P at B–, which is seen as a pathway to attract larger institutional investors, particularly in high-yield credit [6] Additional Financial Metrics - The company has a market cap of $83 billion and total debt of $8.2 billion, with annual interest and preferred dividends amounting to $689 million [7]