Strategy Set to Join Wall Street Elite With $14 Billion Windfall

Michael Saylor’s Strategy is likely to register an unrealized gain of about $14 billion in the second quarter, putting the once floundering enterprise software maker turned leveraged Bitcoin proxy among the select ranks of corporate titans such as Amazon.com Inc. and JPMorgan Chase & Co.

Unlike the ten or so US multinationals whose operating profits are expected to exceed $10 billion last quarter by generating billions of dollars in sales, the former MicroStrategy Inc. can attribute the eye-popping results to a rebound in the price of Bitcoin and a fairly recent accounting change when it comes to valuing its ...