Strategy, the Nasdaq-listed company and world's largest corporate holder of bitcoin, reported a $21 billion paper gain on its digital assets in the third quarter, according to founder and chairman Michael Saylor.
The gain came as bitcoin's price climbed over 40% during the quarter, marking its best three-month performance in years. Bitcoin recently traded near $85,655, up over 8% during a 30-day period.
Last week, Strategy acquired 334 bitcoins for $28.7 million and repurchased $176 million of its STRC preferred shares, according to a Monday filing. As of October 4, 2026, the company holds 848,000 BTC and $5.7 billion in USD assets, with its bitcoin holdings valued at approximately $72.6 billion at current prices.
Strategy's stock initially gained during earlier trading hours before dipping slightly, recently trading nearly 2% higher.
The company has implemented a program allowing it to sell bitcoin to generate up to $1.25 billion in proceeds for its USD reserve, fund preferred stock dividends and interest expenses, or support share repurchases. Strategy sold bitcoin earlier this year, with CEO Phong Le telling investors the company now maintains a bullet-proof balance sheet.
The company posted an $8.22 billion loss in its quarterly earnings reported in July. However, Le reassured investors that paper losses were not a concern as the firm strengthened its financial position.
Strategy's stock performance has been pressured since bitcoin's price decline at the end of 2025 and through the first half of this year. Investors purchase Strategy's shares to gain heightened exposure to bitcoin and can also receive yield through the company's digital credit products.
