Reported 3 days ago
Saylor's Strategy reported its first profit in six quarters, driven by a significant rise in cryptocurrency values, particularly bitcoin, which soared past $120,000 following the signing of the GENIUS Act. The company, which holds over 597,000 bitcoins, saw a net profit of $9.97 billion for the quarter ending June 30, compared to a loss a year earlier. This surge has inspired other companies to adopt similar treasury strategies, with Saylor highlighting a phase of rapid growth and adoption for bitcoin as a reserve asset.
Source: YAHOO