Michael Saylor Strategy (NASDAQ: MSTR) released its third quarter results after the market closed on October 30th, with net income of $2.8 billion.
Diluted earnings per share (EPS) came to $8.42, beating analysts’ expectations of $8.15. As of October 26, 2025, Strategy held 640,808 BTC, acquired for a total value of $47.44 billion at an average price of $74,032 per coin.
The company reported a year-to-date Bitcoin yield of 26%, generating $12.9 billion in profits during the 2025 crypto bull market.
Looking ahead, Strategy expects full-year 2025 operating income of $34 billion and net income of $24 billion, or $80 per share. This highlights the company’s transformation from a business intelligence company to a de facto corporate Bitcoin investment vehicle.
Total revenue for the quarter reached $128.7 million, up 10.9% year-over-year and beating analyst expectations of $118.43 million.
The company’s Bitcoin holdings have already generated profits of 116,555 BTC in 2025, equivalent to $12.9 billion in dollars based on the average BTC price of approximately $110,600 as of October 24, and close to the full-year target of $20 billion.
Michael Saylor is the epitome of a Bitcoin bull.
“By the time bankers say it’s a good idea, it’s going to cost $10 million per Bitcoin,” Michael Saylor recently said on Money 20/20. He added that Bitcoin is currently “99% off.”
And Saylor’s public discourse on Bitcoin supports this belief. Thaler reiterated his bullish outlook for Bitcoin, predicting it to reach $150,000 by the end of 2025 and up to $1 million within four to eight years.
He cited industry changes, new investment products, and increased institutional adoption driven by Strategy’s recent B-minus credit rating as key catalysts.
Saylor highlighted that Strategy’s digital credit products offer yields of 8-12.5%, tax-efficient returns, and customized risk profiles. He pointed to the increasing acceptance of Bitcoin by major US banks and praised supportive regulatory policies.
A strategy that leverages the $1 trillion Bitcoin balance sheet
In a recent interview with Bitcoin Magazine, Michael Saylor outlined an ambitious strategic vision to build a multi-trillion dollar Bitcoin balance sheet to transform global finance.
Saylor sees his firm, and likely other Bitcoin treasury firms, taking advantage of the cryptocurrency’s historic 21% annual price increase to accelerate capital growth and accumulate large Bitcoin holdings.
Central to his plan is the creation of a Bitcoin-backed credit market that offers significantly higher yields than traditional fiat bonds. Saylor argues that by over-collateralizing capital, the system is safer than AAA corporate bonds while potentially providing healthier returns for investors.
He suggested this approach could boost credit markets around the world and provide an alternative to the low-yield bonds that dominate in Europe and Japan.
Saylor also envisions Bitcoin becoming embedded across corporate, bank, and sovereign balance sheets, with traditional stock indexes gradually turning into indirect Bitcoin vehicles.
The merger could boost the growth of publicly traded companies, redefine savings accounts and money market funds, and allow tech giants like Apple and Google to pump hundreds of millions of dollars into the digital economy.
If you would like to learn more about Strategy’s revenue reporting, you can find out more here.
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