Key Takeaways
- Strategy reported a $17.4 billion unrealized loss on digital assets in Q4 due to declining Bitcoin prices.
- As of the end of 2025, the company had a cumulative unrealized loss of $5.4 billion for the year.
Strategy, the enterprise software company and largest corporate holder of Bitcoin, reported a $17.4 billion unrealized loss on digital assets for the fourth quarter of 2025 as Bitcoin prices declined during the period.
Bitcoin closed 2025 lower than where it began, falling by around 6% for the year. The asset hit an all-time high of about $126,000 in October but weakened in the fourth quarter, ending the year near $87,000.
Bitcoin was trading at $92,575 at the time of reporting, up about 6% in the last seven days, per CoinGecko. The resurgence came amid escalating tensions between the US and Venezuela.
For the full year ending December 31, 2025, Strategy recorded a $5.4 billion unrealized loss on digital assets with an associated $1.5 billion deferred tax benefit.
The company said it bought 1,286 Bitcoin between December 29, 2025, and January 4, 2026, bringing total holdings to 673,783 BTC, worth about $62 billion at current market prices.
Strategy also maintains a $2.2 billion US dollar reserve to support preferred stock dividends and interest payments on outstanding debt, noting that the reserve remains subject to management’s discretion.
