Strategy reported third-quarter net income of $2.8 billion and plans to increase preferred stock yield to boost market demand.

Strategy reported a net income of $2.8 billion in the third quarter, with unrealized gains recorded due to the increased value of its approximately $69 billion cryptocurrency reserves. In announcing the results, the company stated that the yield on its variable-rate Series A perpetual extended preferred stock would be increased by 25 basis points to 10.5% in November. Co-founder Michael Saylor stated, “We believe we are at an inflection point where our net asset value multiple has been declining as the Bitcoin asset class matures and volatility decreases.” Since hitting an all-time high last November, Strategy’s stock price has fallen by approximately 45%, erasing much of the premium the stock has enjoyed over the years relative to its Bitcoin holdings.