By Strategy (MSTR) Reports $2.8B Q3 Income, Bitcoin Gains Soar
Michael Saylor’s Strategy (NASDAQ: MSTR) released its third-quarter earnings after market close on Oct. 30, posting net income of $2.8 billion.
Diluted earnings per share (EPS) came in at $8.42, surpassing analyst expectations of $8.15. As of Oct. 26, 2025, Strategy held 640,808 BTC, acquired for a total of $47.44 billion at an average price of $74,032 per coin.
The company reported a year-to-date Bitcoin yield of 26%, generating $12.9 billion in gains amid the ongoing 2025 crypto bull market.
Looking forward, Strategy projects full-year 2025 operating income of $34 billion and net income of $24 billion, or $80 per share — highlighting its transformation from a business intelligence firm into a de facto corporate Bitcoin investment vehicle.
Total revenues for Q3 reached $128.7 million, up 10.9% year-over-year and above the $118.43 million analysts had forecast.
The firm’s Bitcoin holdings have already produced gains of 116,555 BTC in 2025, translating to $12.9 billion in dollar terms based on an average BTC price of roughly $110,600 as of Oct. 24, nearing its full-year target of $20 billion.
Michael Saylor is the epitome of a bitcoin bull
Michael Saylor said recently at Money 20/20, “By the time the bankers tell you it’s a good idea, it’ll cost $10 million per Bitcoin.” He added that Bitcoin is currently at a “99% discount.”
And Saylor’s public discourse towards bitcoin backs this belief up. Saylor reiterated his bullish outlook on Bitcoin, projecting $150,000 by the end of 2025 and up to $1 million within four to eight years.
He cited growing institutional adoption, driven by industry shifts, new investment products, and Strategy’s recent B-minus credit rating, as key catalysts.
Saylor highlighted Strategy’s digital credit instruments offering 8–12.5% yields, tax-efficient returns, and tailored risk profiles. He noted increasing acceptance of Bitcoin by major U.S. banks and praised supportive regulatory policies.
Strategy with a trillion-dollar Bitcoin balance sheet
In a recent interview with Bitcoin Magazine, Michael Saylor outlined his ambitious vision for Strategy: building a trillion-dollar Bitcoin balance sheet to transform global finance.
Saylor sees his firm — and potentially other Bitcoin treasury companies — accumulating massive Bitcoin holdings, leveraging the cryptocurrency’s historical 21% annual appreciation to supercharge capital growth.
Central to his plan is the creation of Bitcoin-backed credit markets offering yields significantly higher than traditional fiat debt. By over-collateralizing capital, Saylor argues the system could be safer than AAA corporate debt while providing healthier returns for investors.
This approach, he suggests, could revitalize credit markets worldwide, offering alternatives to low-yield bonds that dominate Europe and Japan.
Saylor also envisions Bitcoin becoming embedded across corporate, banking, and sovereign balance sheets, gradually turning traditional equity indexes into indirect Bitcoin vehicles.
This integration could boost public companies, redefine savings accounts and money market funds, and allow tech giants like Apple and Google to bring hundreds of millions into the digital economy.
Those interested in learning more about Strategy’s earnings report can watch in full detail here.
