Key Highlights
- Strategy reported a massive $12.4 billion net loss for Q4, which comes from unrealized losses on its Bitcoin holdings
- This announcement comes during the downfall in BTC, falling below $65,000 in the massive crash
- However, the company managed to generate 22.8% BTC yield in 2025
On February 5, Michael Saylor’s Strategy (formerly MicroStrategy) released the financial report for the fourth quarter of 2025. In the report, the biggest Bitcoin holding company has revealed that it has generated 22.8% Bitcoin yield in 2025.
Strategy announces Q4 2025 results:
– 713,502 $BTC held
– 22.8% BTC Yield in 2025
– Largest US equity issuer, raised $25.3 billion in 2025
– $STRC scaled to $3.4 billion; 11.25% current dividend rate https://t.co/d6oGz8jHI8— Michael Saylor (@saylor) February 5, 2026
Strategy Witnesses $12.4 Billion Net Loss in 2025
This announcement comes during the ongoing catastrophic condition in the cryptocurrency market where BTC has dipped below $65,000 with approximately 12% drop in just 24 hours, according to CoinMarketCap. This drop comes after a massive sell-off and liquidation in the crypto market, triggering similar downfall in other altcoins.
In the 4th quarter of 2025, Strategy witnessed a net loss of $12.4 billion which came from accounting impairments on its vast Bitcoin treasury. In that period of time, Bitcoin’s price fell approximately 26% after U.S. President Donald Trump declared a 100% tariff on China, which sparked the biggest liquidation of crypto history.
Despite this downfall in the crypto market, the company also shared a full-year achievement. Strategy has managed to earn a BTC yield of 22.8%, which helps the company to meet its target.
As of February 1, 2026, the firm’s treasury holds 713,502 Bitcoin. These were acquired at a total cost of $54.26 billion, for an average price of $76,052 per coin. This enormous holding is around 3.4% of all the Bitcoin that will ever exist.
The company also revealed a capital formation, in which it raised $25.3 billion through equity and debt offerings throughout the year. This made it the largest equity issuer among all U.S. public companies in 2025, according to company statements. The capital sparked the acquisition of over 225,000 additional Bitcoin.
Phong Le, President and Chief Executive Officer, said,“We raised $25.3 billion of capital in 2025 to advance our Bitcoin treasury strategy, making us the largest equity issuer among U.S. public companies for a second consecutive year. We increased our holdings to 713,502 bitcoins, including 41,002 bitcoins acquired in January 2026 alone. STRC (Stretch), our flagship Digital Credit instrument, has grown to $3.4 billion in size, supported by increasing liquidity and declining volatility. Our variable dividend rate mechanism for STRC, currently set at 11.25%, has helped maintain STRC price stability near the $100 stated amount despite a weaker bitcoin price environment.”
Michael Saylor, Executive Chairman, stated in the press release, “MSTR and STRC operate as complementary components of our capital structure, with STRC generating amplification for MSTR investors and MSTR providing substantial asset coverage while absorbing bitcoin price volatility for STRC investors. We are also excited about an ecosystem emerging around STRC, which would reinforce Strategy’s position as the dominant issuer of bitcoin-backed credit.”
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