TLDR
- Strategy (MSTR) reported Q3 net income of $19.53 billion, up from $2.79 billion a year earlier.
- The stock fell about 3.5% in Thursday’s after-hours trading.
- Strategy held 848,517 bitcoin as of Oct. 25, up 26% year to date.
- CFO Andrew Kang will step down Nov. 5, with Reza Virasteh taking over in January 2027.
- Saylor said the company could create up to $30 billion in digital credit.
Strategy (MSTR) stock fell about 3.5% in Thursday’s after-hours trading. The drop came after the company posted third-quarter results and announced a CFO change.
Net income for the quarter was $19.53 billion. That compares with $2.79 billion in the same period a year earlier.
A $20.91 billion gain on its bitcoin holdings drove the jump. The company also reported record operating income.
Strategy announces Q3 2026 results:
– $21 billion operating income, our largest quarter ever
– $21 billion capital raised YTD
– Returned $STRC to health
– 848,517 $BTC held, up 26% YTD https://t.co/tsqD7sQBHX— Michael Saylor (@saylor) October 29, 2026
Strategy held 848,517 bitcoin as of Oct. 25. That is up 26% so far this year.
The software side of the business told a different story. Revenue fell 3% from a year earlier to $125.4 million.
Saylor Talks Up the Bull Market
Executive Chairman Michael Saylor said the company is at the start of the next bitcoin bull market. He pointed to banks embracing bitcoin and a return of institutional demand.
He also noted that bitcoin trades 21% above its 200-week moving average. Digital Credit now totals $16 billion in notional value across ten publicly listed securities, he said.
The company said its STRC preferred shares “returned to health” after $2.04 billion in repurchases. That is a big buyback for a single security.
On the earnings call, Saylor said Strategy could create $10 billion, $20 billion or even $30 billion of digital credit. He said this could happen without a new common stock raise or higher bitcoin prices.
The company has been leaning more on preferred shares like STRC to fund bitcoin buying. That marks a move away from convertible debt and common share sales.
CEO Phong Le said issuing digital credit is the main way Strategy plans to buy more bitcoin. He said that if the firm raised $1 billion to $2 billion in a month through STRC, some could go to dollar reserves and the rest to bitcoin.
The $30 billion figure is a possible capacity, not an announced fundraising target. Strategy has not set a goal at that level.
Daily Dividends Approved
Earlier this week, holders of STRC, STRF, STRK and STRD preferred shares approved a change to dividends. They will now accrue daily instead of on the old schedule.
The amendment received 99.3% of votes cast, according to Saylor. Le called daily dividends a natural step toward a 24/7 financial system.
STRC’s first record date is Nov. 1, with payment on Nov. 2. STRF, STRK and STRD follow with a Jan. 1 record date and Jan. 4 payment.
After that, every calendar day will be a record date. Payment will come on the next business day.
K33 estimated earlier this month that STRC had added $725 million to the company’s annual dividend obligations. That is a cost investors will be watching.
On the leadership front, CFO Andrew Kang will step down Nov. 5 for personal reasons. Le will oversee finance until COO Reza Virasteh becomes CFO on Jan. 1, 2027.
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