---
title: "Strategy Rewrites Corporate Playbook With $3.9B Bitcoin Gain—MSTR To Break Out?"
description: "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 r"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/260072105.md"
published_at: "2025-10-06T15:06:22.000Z"
---

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

> 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.

**Strategy Inc.** (NASDAQ:MSTR) is up 2% on Monday after reporting a $3.9 billion **Bitcoin** (CRYPTO: BTC) gain in Q3 and breaking a key technical downtrend.

### Bitcoin Earnings Shock Wall Street

Strategy's Q3 filing showed a $3.89 billion unrealized gain on its Bitcoin position as prices surged toward quarter-end.

The company booked a $1.12 billion deferred tax expense, leaving net results positive but highly sensitive to crypto volatility.

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.

### Strategy Taps Billions To Fuel Bitcoin Bet

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.

Remaining capacity under its ATM programs is $46.3 billion, highlighting ongoing reliance on markets to expand Bitcoin holdings.

Preferred equity obligations reached $6.6 billion, while convertible debt stood at $8.2 billion principal.

With $6.4 billion due in 2028, refinancing risk remains tied to Bitcoin's performance.

### MSTR Stock Flashes Bullish Breakout Signal

*MSTR Key Technical Levels (Source: TradingView)*

**Technical Analysis:** 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.

Upside targets are defined by Fibonacci retracements: $387 at the 0.5 level and $423 at the 0.618 level.

RSI at 59.7 suggests momentum remains constructive, with no immediate overbought risk.

### Why It Matters

Strategy Inc. has quietly become Wall Street's largest Bitcoin balance sheet experiment, bigger than many ETFs in exposure.

Its Q3 filing shows the firm now holds more Bitcoin than the combined reserves of most sovereign treasuries.

By scaling via equity and debt instead of mining, Strategy is rewriting how corporate finance interacts with digital assets.

If Bitcoin ETFs unlock deeper institutional inflows, Strategy stands to benefit as both a proxy and competitor to those vehicles.

The firm's structure now blurs the line between a technology company and a quasi-Bitcoin sovereign wealth fund.

For investors, this raises a bigger question: is Strategy the future template for corporate treasuries in the digital age?

-   Bitcoin Targets $130,000—And This ‘Supertrend’ Indicator Just Flipped Bullish

*Image: Shutterstock*

### Related Stocks

- [MSTR.US - Strategy](https://longbridge.com/en/quote/MSTR.US.md)
- [SMST.US - Defiance Daily Target 2X Short MSTR ETF](https://longbridge.com/en/quote/SMST.US.md)
- [MSTZ.US - T-REX 2X Inverse MSTR Daily Target ETF](https://longbridge.com/en/quote/MSTZ.US.md)
- [07799.HK - XL2CSOPMSTR](https://longbridge.com/en/quote/07799.HK.md)
- [07399.HK - XI2CSOPMSTR](https://longbridge.com/en/quote/07399.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Coinbase 高管表示，Michael Saylor 正在揭示 Strategy 的比特幣儲備的真實情況 | Coinbase 的機構戰略負責人 John D’Agostino 在 CNBC 上討論了市場波動性，他表示比特幣價格的近期下跌在加密市場中是典型的。他為 Michael Saylor 關於 Strategy Inc 比特幣持有量的説法辯護 | [Link](https://longbridge.com/en/news/276156520.md) |
| Strategy 的首席執行官表示，比特幣的大規模拋售 “極不可能發生”，並計劃在未來 7 年內將每股比特幣的價值翻倍 | Fong Lee，Strategy（NASDAQ:MSTR）的首席執行官表示，該公司的數字資產財政模型旨在提供對比特幣的放大曝光。他將比特幣描述為一種去中心化的價值儲存，並指出 Strategy 的股票是比特幣的槓桿代理。Lee 強調，除非 | [Link](https://longbridge.com/en/news/275774968.md) |
| 比特幣暴跌逾 50% 後「底部」或已臨近？FED 降息次數成關鍵！ | 比特幣自歷史高位下跌逾 50%，市場分歧加劇，近期再遭猛烈拋售，價格一度跌破 6.6 萬美元。全球爆倉人數達 148859 人，總金額 4.67 億美元。儘管市場擔憂量子電腦可能破解比特幣安全，但 CoinShares 報告稱並非迫在眉睫的 | [Link](https://longbridge.com/en/news/275853783.md) |
| 【比特日報】美聯儲降息押注又變了！比特幣處關鍵轉折點，回踩 6.5 萬還是突破 7 萬？ | 比特幣在突破 7 萬美元失敗後，當前交投在 6.84 萬美元附近。美國 1 月 CPI 同比上漲 2.4%，低於預期，市場押注美聯儲將開啟降息周期。交易員預計美聯儲將在 2026 年降息超過兩次，首次降息可能在 6 月或 7 月。高盛表示， | [Link](https://longbridge.com/en/news/276100203.md) |
| 【比特日報】大多頭渣打突然投降，目標價下調 5 萬！比特幣一度下探 6.5 萬，「週期拐點」信號出現？ | 渣打銀行下調比特幣目標價至 10 萬美元，警告未來幾個月可能出現進一步下跌。比特幣一度跌至 65,079 美元，現回升至 66,400 美元。市場分析師指出，若比特幣跌破 58,000 美元，可能進一步下探至 4 萬美元。整體加密市場市值蒸 | [Link](https://longbridge.com/en/news/275974635.md) |

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
