✉news BusinessCrypto first seen 17 h ago, last 13 h ago, peak #9
Strategy Returns to Profitability on $21 Billion Quarterly Gain
Original: Strategy Returns to Profitability on $21 Billion 3Q Gain
Strategy, the Bitcoin-holding company formerly known as MicroStrategy, reported a return to profitability in the third quarter, driven by a $21 billion gain largely tied to the rising value of its bitcoin holdings. The result marks a swing back into the black after earlier losses, underscoring how closely the company's fortunes track the cryptocurrency market, and it is drawing attention from investors watching corporate bitcoin treasuries.
Why now: The company's quarterly earnings reflect the recent rally in bitcoin's price, making its results a talking point for crypto and equity investors.
Evidence
- Strategy Returns to Profitability on $21 Billion 3Q Gain · Bloomberg.com
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