Bitcoin Giant Strategy Records Q3 Profits of $2.8 Billion

Strategy announced a profit of $2.8 billion for Q3, continuing its aggressive Bitcoin accumulation strategy despite market challenges. The company's net income was reported at $8.42 per common share, and its stock rose 3% post-announcement. Although Bitcoin's price saw a modest increase in Q3, it has recently dipped below $107,000, prompting an adjustment in Strategy's purchasing pace. The firm maintained a Bitcoin treasury valued at approximately $68 billion, accumulated over 640,000 Bitcoins, sustaining its position as the largest corporate holder of the cryptocurrency. While Strategy has been cautious with its share issuances, it recently made a $43 million Bitcoin purchase, its largest in nearly a month. Co-founder Michael Saylor remains optimistic about Bitcoin's future, predicting a potential price rise to $150,000 by the year's end, despite a general decline in the crypto market.

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