Strategy Inc., led by executive chairman Michael Saylor, announced on October 6 that the company will not be adding more 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.
