Strategy Sold 5,552 Bitcoin and Bought 7,218 in Q3 as a $20.9 Billion Markup Drove Profit
Photo: Unchained
Strategy’s third-quarter operating income came entirely from marking up its bitcoin, and CFO Andrew Kang is leaving Nov. 5. Strategy reported $20.91 billion of operating income for the third quarter on Thursday, all of it from a $20.91 billion gain on digital assets . Strategy carries its bitcoin at fair value, so the gain reflects a higher bitcoin price at quarter end, not cash from its business; excluding it, operations lost about $2.6 million. CFO Andrew Kang called it a “record $20.9 billion of operating income” on the company’s earnings call. For the nine months through Sept.
Source: Unchained
