Saylor’s Strategy swings to quarterly profit amid crypto goldrush
(Reuters) -Strategy reported its first profit in six quarters on Thursday, as the biggest corporate holder of bitcoin benefited from a remarkable quarter for cryptocurrencies.
In a watershed moment of legitimacy for the crypto industry, U.S. President Donald Trump signed the GENIUS Act into law earlier this month.
Industry anticipation leading up to the moment helped rally bitcoin — the largest cryptocurrency — past $120,000 for the first time as investors cheered Washington’s long-awaited approval on digital assets.
Strategy held 597,325 bitcoins as of June 30, at an average cost of $70,982. Bitcoin currently trades around $116,600.
It recorded a $14 billion unrealized fair value gain on digital assets during the…
