Driven by Bitcoin's rise to a new all-time high, business intelligence company Strategy Inc. recorded a massive $3.9 billion gain in the fair value of its Bitcoin holdings in the third quarter.
The company, led by prominent Bitcoin advocate Michael Saylor, announced that it will forego its usual weekly Bitcoin purchase this week to highlight its staggering returns.
On X, Saylor stated, "No new orange dots this week — just a $9 billion reminder of why we HODL," referring to a chart showing the company's acquisition history.
This pause comes after Strategy's 640,031 BTC, acquired at an average price of less than $74,000, were valued at approximately $79 billion over the weekend.
According to a recent SEC filing, the $3.89 billion in unrealized gains were accompanied by a deferred tax expense of $1.12 billion.