Strategy Earned $10B in Q2 on Back of Bitcoin Price Gain

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coindesk
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20 hours ago


Disclaimer: The analyst who co-wrote this piece owns shares of Strategy (MSTR).

Strategy (MSTR), the largest corporate holder of bitcoin (BTC), posted second-quarter operating earnings of $14 billion or $32.60 per share, and net income of $10 billion.

The massive profit came as the price of bitcoin rose roughly 30% during the thre-month period.

"Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," said CFOM Andrew Kang. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60."

Strategy, led by Executive Chairman Michael Saylor, continued executing its aggressive bitcoin accumulation plan, fueled by cash generated from the sale of its common and preferred stock issuances, bringing its stack to 628,791 bitcoin by the end of July.

The company lifted its full-year bitcoin yield target to 30% and expects full-year operating income of $34 billion and net income of $24 billion, based on an expected year-end bitcoin price of $150,000.

MSTR is up modestly in after hours trading to $408.25 and higher by 34% year-to-date.

Read more: Strategy's Market Hints at Strongest Downside Risk Since April


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