🏦 Is Strive's profit real, or just a paper win? 🤔
$BTC

1️⃣ The profit is almost all unrealized bitcoin gains, while operating revenue is only about $2.7M 🧾 (The Block)
2️⃣ 28,000 BTC is what Strive held at quarter-end. It bought 8,136 BTC in Q3, then 15,124 more in October 🪙 (Cointelegraph)
3️⃣ October buying was funded by a $609M preferred stock offering with a 15% annual dividend 💸 (Cointelegraph)
💡 [✍️ your analysis here]
⚠️ Preferred dividends cost about $34M a quarter, and the nine-month result for common shareholders is still a loss 📉 (KuCoin)
Does a profit built on unrealized gains tell us anything real about the business? 👇
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