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Strategy's net profit for the third quarter fell to $2.8 billion, and the growth rate of Bitcoin Holdings has slowed.
[Strategy's net profit in the third quarter drops to $2.8 billion, Bitcoin holdings growth slows] The Bitcoin treasury company Strategy (MSTR) reported a net profit of $2.8 billion in the third quarter, significantly lower than the record $10 billion in the previous quarter, but still slightly above analysts' expectations of earnings per share of $8.42 (expected $8.15). The decline in Bitcoin prices has caused its market capitalization/Bitcoin net asset value ratio (mNAV) to fall to about 1.2 times, the lowest since March 2023. During the quarter, the company added approximately 43,000 Bitcoins, bringing total holdings to 640,000 coins, valued at nearly $69 billion, marking the slowest growth rate for a quarter this year. Strategy also raised its variable interest rate preferred stock STRC dividend to 10.5% to maintain investor demand and continue purchasing Bitcoins.