Strategy executives Phong Le and Andrew Kang say the company is on a strong financial footing despite it now being down 17.5% on its Bitcoin holdings.
The Bitcoin buying company Strategy reported a net loss of $12.4 billion in the fourth quarter of 2025, driven down by Bitcoin’s 22% fall over the quarter.

Bitcoin (BTC) reached a peak high of $126,000 in early October, but tumbled over the quarter ending Dec. 31 to under $88,500. Bitcoin is down 30% so far this year to $64,500, below Strategy’s average cost per BTC of $76,052.
Strategy (MSTR) said on Thursday that despite the loss, its Q4 revenues rose 1.9% year-on-year to $123 million, driven in part by its business intelligence arm, but the recent Bitcoin sell-off saw its shares close 17% down on Thursday to $107.
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