Strategy posts record operating profit as BTC yield turns negative
BROBROK News · Based on reporting by DiarioBitcoin ·
Michael Saylor said the current backdrop looks like the start of a new Bitcoin bull market. At the same time, Strategy reported a record operating gain for the quarter, driven mostly by a revaluation of its BTC holdings, while its Bitcoin-per-share metric moved into negative territory.
Key points
- Strategy reported a $20.9 billion operating gain in the third quarter.
- The result was driven mainly by Bitcoin fair-value remeasurement, not recurring business revenue.
- The company’s holdings rose to 848,517 BTC, but BTC yield fell to -3.7%.
- K33 questioned the cost of financing through STRC, while Bitwise argued the market may be overstating the risks.
- Strategy raised substantial capital, but dilution remains part of the debate.
Why it matters
The report highlights a gap between accounting profits and per-share BTC accumulation for companies heavily exposed to Bitcoin. It also shows how financing costs can become a major issue when a firm keeps adding to its BTC reserve.
Original headline: “Saylor ve un nuevo mercado alcista de Bitcoin, pero el rendimiento por acción de Strategy cae”
Read the original on DiarioBitcoin
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.