--- 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 | |-------|-------------|-----| | Michael Saylor Is Telling The Truth About Strategy's Bitcoin Stash, Coinbase Exec Says | John D’Agostino, Coinbase's Head of Institutional Strategy, discussed market volatility on CNBC, stating that the recent | [Link](https://longbridge.com/en/news/276156520.md) | | Strategy CEO Calls Bitcoin Sell-Off 'Extremely Unlikely,' Aims To Double BTC Per Share In 7 Years | Fong Lee, CEO of Strategy (NASDAQ:MSTR), stated that the company's Digital Asset Treasury model aims to provide amplifie | [Link](https://longbridge.com/en/news/275774968.md) | | Binance Converts $1 Billion SAFU Fund Into Bitcoin | Binance has converted its entire $1 billion Secure Asset Fund for Users (SAFU) into Bitcoin, purchasing 4,545 BTC and br | [Link](https://longbridge.com/en/news/275969199.md) | | Oldest Satoshi-era Bitcoin wallet buys $2B in BTC – What does it know? | A prominent Bitcoin wallet from the Satoshi era has purchased approximately 26,000 BTC for over $2 billion, signaling st | [Link](https://longbridge.com/en/news/276055159.md) | | What Bitcoin Rout? Michael Saylor Unfazed, Teases New Accumulation | Michael Saylor's firm continues to accumulate Bitcoin, purchasing 1,142 BTC for over $90 million, bringing its total to | [Link](https://longbridge.com/en/news/276130142.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.