Strategy announced its third-quarter 2026 financial results on the afternoon of October 29, 2026, featuring record financial figures. What drew particular investor attention was that the world’s largest corporate Bitcoin holder confirmed for the first time that it actively sold a portion of its digital assets to meet recurring financial obligations.
Record profit driven by digital asset treasury price movements
In the third quarter of 2026, Strategy posted operating income of $20.91 billion, far exceeding the $3.89 billion recorded in the same period last year. This sharp growth was primarily driven by gains recognized on the change in value of digital assets amounting to $20.91 billion. The company’s net income reached $19.53 billion, translating to diluted earnings per share of $44.75, compared to $8.42 in the third quarter of 2025.
As of October 25, 2026, Strategy’s treasury held a total of 848,517 Bitcoin, up 26% from the beginning of the year after spending $14.33 billion on additional purchases during 2026. The average cost basis per Bitcoin held by the company is estimated at $75,446, while the market value of the entire portfolio reached approximately $68.90 billion.
These figures further solidify the company’s leading position in closely watched digital asset treasury reports across the U.S. stock market.
Selling $431.8 million in Bitcoin to fund dividends and STRC buybacks
Alongside large-scale purchases, the financial report also revealed that Strategy has sold approximately $431.8 million in Bitcoin year-to-date in 2026. This move operationalizes the Bitcoin Monetization Program approved by the Board of Directors. Proceeds from these sales were utilized to partially fund dividend payment obligations on preferred stock and to support share buyback activities.
Specifically, the enterprise spent $2.04 billion to repurchase over 20.98 million STRC preferred shares at an average discounted price of $97.39 per share. This accumulation falls under the $3 billion STRC share repurchase strategy aimed at bringing the ticker’s trading price back toward its $100 par value. At the same time, Strategy built up its cash and USD liquid asset reserves to $5.07 billion, securing debt and dividend servicing capacity for the next 3.4 years.
Finance leadership transition and daily dividend model
In conjunction with the earnings results, Strategy announced that Chief Financial Officer Andrew Kang will formally step down on November 5, 2026, after more than four years with the company. Chief Executive Officer Phong Le will temporarily oversee the finance organization before Reza Virasteh assumes the role on January 1, 2027.
Executive Chairman Michael Saylor emphasized that the company is pioneering the creation of a digital credit system following shareholder approval to transition dividends on the STRC, STRF, STRK, and STRD tickers to accrue on every calendar day. However, selling Bitcoin to balance cash dividend obligations demonstrates that even the most committed treasury strategy faces real liquidity constraints when capital costs in traditional markets remain elevated.