Strategy estimates $20.91B Q3 digital asset gain; holds 848,000 BTC and reverses $4.12B tax allowance

Strategy Inc

Q3 2026 estimate: $20.91B gain on digital assets and $1.88B deferred tax expense; digital asset carrying value was $70.82B as of Sept. 30, 2026.
Reversed $4.12B deferred tax asset and released related valuation allowance, creating approx. $4.12B income tax benefit and cutting estimated deferred tax expense from ~$6.00B to $1.88B.
Bitcoin holdings were 848,000 BTC at Oct. 4, 2026, aggregate purchase price $63.97B and average $75,440.7; Oct. 1-4 purchases were 334 BTC for $28.7M at $85,838.8 average.
ATM: sold 92,894 MSTR shares Oct. 1-4 for $15.7M net, used to buy bitcoin; no STRF/STRC/STRK/STRD sales; $18.83B MSTR and $1.62B STRF issuance capacity remains.
Repurchased 1,033,168 STRC shares for $102.6M Sept. 28-30 and 740,634 for $73.7M Oct. 1-4; $547.2M preferred buyback capacity and $1.0B MSTR buyback remain; USD Reserve $4.88B, USD Cash $833.4M.

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