Strategy’s 713,502 BTC Stash Shocks Markets Despite $12.4B Loss

Key Takeaways:

• Strategy is currently holding 713,502 BTC in its wallet and more than $54 billion (book value), meanwhile it is still increasing this Bitcoin amount.
• The company also reports a net loss of $12.4 billion in the fourth quarter of 2025, mainly due to continuously fluctuating crypto prices.
• The enormous fund raising of $25.3 billion with the developing Digital Credit platform indicates the company’s crypto focus aggressively.

Strategy has published its Q4 2025 financials and it is clear that it has one of the largest Bitcoin treasuries in corporate history. The update shows how deeply the company’s balance sheet is tied to crypto markets and capital-raising strategies.

Read More: Strategy Drops $1.25B on 13,627 Bitcoin, Total Holdings Surge to 687,410 BTC

Strategy said its Bitcoin stash reached 713,502 BTC as of early February 2026, purchased at an average cost of about $76,052 per coin. Indeed, they acquired in January more than 41,000 BTC, adhering to the long-term strategy of continuing to purchase.

The coins were around $54.26 billion expensive on paper. However, their market value is fluctuating with the price of Bitcoin, and this is the one that swings the profits they present under fair-value regulations.

They also mentioned that they have reached a 22.8% BTC yield in FY 2025 and made it a significant KPI to play in their treasury rather than simply reaching the regular revenue.

Strategy continues to push its Digital Credit instrument, STRC, which has scaled to about $3.4 billion. The product currently carries an 11.25% dividend rate and has distributed over $413 million cumulatively.

Executives said the structure helps manage volatility tied to Bitcoin while offering income-focused exposure. A newly established $2.25 billion USD reserve aims to support dividends and interest payments for more than two years.

The company reported a $12.4 billion net loss for the fourth quarter, mainly from unrealized declines in digital asset valuations. Operating losses climbed sharply compared with the previous year because accounting rules now reflect real-time market prices.

Despite the headline loss, total revenue reached $123 million, up slightly year over year. Subscription services grew strongly, while product support revenue declined.

Read More: Saylor Hints at Massive Bitcoin Buy as MicroStrategy Amasses $2.2B Cash Pile

Strategy described itself as the largest U.S. equity issuer in 2025, raising $25.3 billion across multiple offerings. Five preferred stock IPOs alone generated about $5.5 billion in gross proceeds.

The executives claimed that they have combined Bitcoin wagers with credit instruments in order to stabilize things. MSTR stock provides you with a first-hand trial of BTC volatility, and STRC is regarding how to increase returns by means of structured financing.

They also revealed that new accounting changes and more transparent guidelines on digital assets were highly motivating factors forcing companies to get into Bitcoin in 2025. They are planning to continue expanding the credit component even in the process of gnashing BTC as long as the market is friendly.

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