Strategy reports $19.5 billion third-quarter profit on bitcoin gains; holds 848,517 bitcoin as CFO Andrew Kang steps down

Strategy, the largest corporate holder of bitcoin, reported third-quarter net income of $19.53 billion, or $44.75 a diluted share, on Thursday 29 October, up from $2.79 billion a year earlier. Operating income was $20.91 billion, all of it from a gain in the value of its bitcoin, the company said.

Strategy said it held 848,517 bitcoin as of 25 October, up 26% since the start of 2026, bought for a total of $64.02 billion, or about $75,446 per coin on average. It valued the holdings at $68.90 billion, based on a bitcoin price of about $81,200 on 23 October. The company said it had bought $14.33 billion of bitcoin and raised $21.23 billion of capital so far this year, and had sold about $431.8 million of bitcoin to help fund preferred-stock dividends and buybacks.

Total revenue, which comes mainly from its software business, fell 3% to $125.4 million.

The company said it had bought back $2.04 billion of its STRC preferred stock this year and that STRC will move to daily dividends from 1 November, after shareholders approved the change on 28 October.

Chief financial officer Andrew Kang will step down on 5 November. Chief executive Phong Le will take over the finance function during the transition, and Reza Virasteh, executive vice president of operations, will become chief financial officer on 1 January 2027, Strategy said.

Executive chairman Michael Saylor said: “We’re at the beginning of the next bitcoin bull market.”

Strategy shares were down about 9% at $129.02 as of 17:52 GMT on Friday, according to Yahoo Finance data, as crypto-related stocks fell after a $6.3 billion theft from the Binance exchange, Proactive Investors reported.