Michael Saylor’s Strategy Forecasts $20.9B Q3 Digital-Asset Gain As MSTR Bitcoin Stack Hits 848,000 BTC

• The latest purchase brings Strategy’s total Bitcoin holdings to 848,000 BTC, with a reported aggregate cost of $63.97 billion.
• Strategy sold 92,894 MSTR shares for approximately $15.7 million, using the proceeds in part to fund the Bitcoin purchase.
• Bitcoin’s carrying value on Strategy’s balance sheet reached $70.82 billion on September 30.

Michael Saylor-backed Strategy (MSTR) shares moved higher in early morning trade on Monday, along Bitcoin (BTC) in the green, with the company estimating a $20.91 billion gain on digital assets for the third quarter and disclosing its latest Bitcoin purchase that pushed its holdings to 848,000 BTC.

MSTR stock rose around 2.4% in pre-market. On Stocktwits, retail sentiment around the Bitcoin treasury trended in ‘bullish’ territory over the past day. 

In its filing with the Securities and Exchange Commission (SEC), Strategy disclosed that it had bought its latest Bitcoin bundle for $28.7  million, paying an average price of $85,839 per BTC.

At the time of writing, Bitcoin’s price was trading at around $86,000, up nearly 1% in the last 24 hours, paring gains after the apex cryptocurrency came within about $500 of its late-September peak earlier in the day. On Stocktwits, retail sentiment around Bitcoin shifted to ‘neutral’ to bearish’ over the past day. 

Strategy’s Bitcoin Treasury Reaches 848,000 BTC

The latest purchase brings Strategy’s total Bitcoin holdings to 848,000 BTC. The company said its Bitcoin holdings carry a total cost of about $63.97 billion.

Strategy partly funded the purchase by selling 92,894 shares of its common stock, raising approximately $15.7 million. The company also used $13 million of its USD Cash to fund Bitcoin purchases during the period.

Strategy allocated another $154.1 million of USD Cash to repurchase STRC preferred stock over the past week. During the same period, it used $142.5 million from its USD Reserve to fund dividends on its preferred stock and interest on outstanding debt.

As of Monday, Strategy held $4.88 billion in its USD Reserve and $833.4 million in USD Cash. 

Strategy Estimates $20.9B Q3 Digital-Asset Gain

Strategy also provided an early estimate for its third-quarter (Q3) digital-asset performance. The company expects to report a $20.91 billion gain on digital assets for the quarter, while the carrying value of its Bitcoin holdings reached $70.82 billion as of September 30.

The figures come as both MSTR and Bitcoin remain below their levels from a year ago. MSTR stock has gained 3% year-to-date but fallen over 50% in the last 12 months. Meanwhile, Bitcoin’s price has fallen around 2% year-to-date and is down 30% in the last 12 months. 

Read also: 10-Year Yield Above 5%, Oil Near $90, And Bitcoin: 3 Charts That Could Test The Stock Rally

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