Bitcoin Giant Strategy Records Q3 Profits of $2.8 Billion

Core Insights - The company reported $2.8 billion in profits for Q3, with a net income of $8.42 per common share on a diluted basis [1] - MSTR shares experienced a more than 3% gain after hours, trading at about $262, despite a more than 7% decline during trading hours [2] - The company has accumulated over 640,000 Bitcoin, valued at approximately $68 billion, making it the largest crypto treasury company globally [4] Financial Performance - Revenues from the software business totaled $128 million, while the company reaffirmed its full-year guidance for net income of $24 billion and diluted EPS of $80 per share [3][5] - The largest cryptocurrency, Bitcoin, finished Q3 above $114,000 but fell below $107,000, influenced by liquidity concerns and macroeconomic uncertainties [5] Strategic Moves - The company continued its aggressive Bitcoin accumulation strategy, purchasing 390 Bitcoin for $43 million, marking its largest purchase in nearly a month [6] - The company has shifted its approach to raising capital, moving away from issuing common shares at a premium relative to its Bitcoin holdings [7]