Bitcoin Giant Strategy Records Q3 Profits of $2.8 Billion

Strategy generated $2.8 billion in profits for Q3, despite Bitcoin's price decline of over 6% during the quarter. The company reported a net income of $8.42 per share and continued to build its Bitcoin treasury, which now exceeds $68 billion with over 640,000 BTC. Despite market challenges, co-founder Michael Saylor remains optimistic about Bitcoin's future, predicting a rise to $150,000 by year-end. The company’s stock price saw fluctuations but remains significantly up since pivoting to BTC accumulation in 2020. Over the quarter, revenues from its software operations totaled $128 million, and recent Bitcoin purchases have been smaller as the firm adjusts its strategy. The stock has already gained more than 1,400% since the shift in business focus, signifying the company’s growing influence in the crypto industry.

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