Strategy Posts $10B in Q2 Profit, Raises Full-Year Outlook Amid Bitcoin Surge
Strategy (MSTR), the largest corporate holder of bitcoin, reported second-quarter net income of $10 billion, driven by a significant rise in the cryptocurrency’s price. Operating earnings reached $14 billion, translating to $32.60 per share.
The strong performance came as bitcoin appreciated roughly 30% during the quarter, boosting the company’s holdings and bottom line. “We’ve already achieved a 25% year-to-date BTC yield, ahead of our full-year goal,” said CFO Andrew Kang. “Our total unrealized bitcoin gain now exceeds $13 billion.”
Under Executive Chairman Michael Saylor, Strategy has aggressively expanded its bitcoin reserves. The company financed additional purchases through common and preferred stock sales, raising its total holdings to 628,791 BTC by the end of July.
Buoyed by bitcoin’s momentum, Strategy raised its full-year guidance, now projecting $24 billion in net income and $34 billion in operating income. The revised forecast is based on a year-end BTC price target of $150,000. The company also raised its bitcoin yield target to 30%.
Shares of MSTR rose slightly in after-hours trading to $408.25. The stock is up 34% so far this year.
