<div id="readability-page-1"><div><div><p><strong>Strategy Inc.</strong> (NASDAQ:MSTR) is up 2% on Monday after reporting a $3.9 billion <strong>Bitcoin</strong> (CRYPTO: BTC) gain in Q3 and breaking a key technical downtrend.</p><h3>Bitcoin Earnings Shock Wall Street</h3><p>Strategy's Q3 filing showed a $3.89 billion unrealized gain on its Bitcoin position as prices surged toward quarter-end. </p><p>The company booked a $1.12 billion deferred tax expense, leaving net results positive but highly sensitive to crypto volatility.</p><p>Digital assets stood at $73.21 billion as of Sept. 30, with 640,031 BTC held at a cost basis of $73,983. Purchases in the quarter totaled 42,706 BTC for $4.95 billion.</p><h3>Strategy Taps Billions To Fuel Bitcoin Bet</h3><p>The company raised $5.09 billion in Q3, split between a $2.47 billion IPO of (NASDAQ:STRC) and $2.62 billion via at-the-market equity programs across its affiliates. </p><p>Remaining capacity under its ATM programs is $46.3 billion, highlighting ongoing reliance on markets to expand Bitcoin holdings.</p><p>Preferred equity obligations reached $6.6 billion, while convertible debt stood at $8.2 billion principal. </p><p>With $6.4 billion due in 2028, refinancing risk remains tied to Bitcoin's performance.</p><h3>MSTR Stock Flashes Bullish Breakout Signal</h3><p><em>MSTR Key Technical Levels (Source: TradingView)</em></p><p><strong>Technical Analysis:</strong> On the chart, Strategy's stock broke above a descending trendline in place since August. The move reclaimed the 20-day EMA at $337.75 and the 50-day EMA at $349.53.</p><p>Upside targets are defined by Fibonacci retracements: $387 at the 0.5 level and $423 at the 0.618 level. </p><p>RSI at 59.7 suggests momentum remains constructive, with no immediate overbought risk.</p><h3>Why It Matters</h3><p>Strategy Inc. has quietly become Wall Street's largest Bitcoin balance sheet experiment, bigger than many ETFs in exposure.</p><p>Its Q3 filing shows the firm now holds more Bitcoin than the combined reserves of most sovereign treasuries.</p><p>By scaling via equity and debt instead of mining, Strategy is rewriting how corporate finance interacts with digital assets.</p><p>If Bitcoin ETFs unlock deeper institutional inflows, Strategy stands to benefit as both a proxy and competitor to those vehicles.</p><p>The firm's structure now blurs the line between a technology company and a quasi-Bitcoin sovereign wealth fund.</p><p>For investors, this raises a bigger question: is Strategy the future template for corporate treasuries in the digital age?</p><ul> <li>Bitcoin Targets $130,000—And This ‘Supertrend’ Indicator Just Flipped Bullish</li> </ul><p><em>Image: Shutterstock</em></p></div></div></div>

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<p>Strategy Inc. (NASDAQ:MSTR) reported a $3.9 billion Bitcoin gain in Q3, leading to a 2% stock increase. The company holds 640,031 BTC valued at $73.21 billion, with a cost basis of $73,983. Strategy raised $5.09 billion in Q3 through an IPO and equity programs, while facing refinancing risks tied to Bitcoin's performance. The stock broke a descending trendline, indicating bullish momentum. Strategy's approach positions it as a significant player in the Bitcoin market, potentially reshaping corporate treasury strategies in the digital age.</p>

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Strategy Rewrites Corporate Playbook With $3.9B Bitcoin Gain—MSTR To Break Out?