Strategy (MSTR) Earnings News: BTC's Q3 Rise Boosts Profits

Strategy (MSTR) reported a notable third quarter with earnings per share (EPS) of $8.42, attributed to a rise in Bitcoin prices, which increased from around $107,000 at the start of July to approximately $114,000 by the end of September. The company’s net income reached $2.8 billion, bolstered by its growing Bitcoin holdings, which rose to 640,031 BTC during this period. However, despite these gains, MSTR's share price fell by roughly 14% over the quarter, highlighting a drop in the company’s market cap relative to its Bitcoin assets. October saw shares decline further, exacerbated by Bitcoin's recent price fluctuations, including a 7.5% drop following news of Bitcoin dipping below $107,000. MSTR's management reiterated its full-year Bitcoin yield guidance of 30% amid ongoing market challenges, suggesting a net income target of $24 billion and an EPS of $80 based on a Bitcoin price forecast of $150,000.

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