Strategy's Q4 loss reached 12 trillion won due to Bitcoin's decline, 15 million won lower than the average purchase price.
In the wake of the Bitcoin crash, Bitcoin company Strategy recorded a massive net loss of over 12 trillion won in the fourth quarter of 2025. Its stock price also fell by over 17% at one point, completely erasing the gains made earlier in the year. However, the company made it clear that it intends to maintain its long-term Bitcoin strategy.
On the 5th (local time), Strategy announced its fourth-quarter earnings for last year, reporting a net loss of $12.4 billion (approximately KRW 18.223 trillion). On the day of the announcement, Bitcoin (BTC) plummeted more than 12%, falling to around $64,000 (approximately KRW 94.06 million), its worst single-day drop since the October 2025 crash.
As of that date, Strategy held a total of 713,502 Bitcoins, with an average purchase price of $76,052 (approximately KRW 111.71 million). However, at current prices, this translates to a valuation loss of approximately $7.5 billion (approximately KRW 11.0222 trillion).
The Bitcoin price decline also had a direct impact on Strategy's stock price. It closed at $106 (approximately KRW 155,777), a 17% drop from the previous day, reaching its lowest level since August 2024. This decline erased all of the gains made earlier this year.
"Maintaining a long-term strategy"... Additional 41,000 Bitcoins to be purchased in January 2026 alone.
Despite the Bitcoin price plunge, Strategy has stated its commitment to maintaining its Bitcoin-based financial strategy. CEO Phong Le stated, "Our Bitcoin-centric strategy remains unchanged," adding, "We have raised $25.3 billion (approximately KRW 37.1214 trillion) through 2025 to fund our Bitcoin strategy."
CEO Lee then revealed that “an additional 41,002 Bitcoins were purchased in January 2026 alone,” indicating that the aggressive Bitcoin buying trend is continuing even in a bear market.
Strategy currently holds approximately $2.25 billion (approximately KRW 3.3763 trillion) in USD reserves, securing the capacity to pay dividends and repay debt for over 2.5 years, the company said. Furthermore, the cumulative issuance of its Bitcoin-collateralized credit product (STRC), which features an adjustable, fixed-rate structure, has increased to $3.4 billion (approximately KRW 4.9966 trillion). This product is designed to achieve price stability with an 11.25% dividend yield.
Stocks Fall, Strategy Maintained… Bitcoin's Sustainability Amid Volatility, Questions Are Asked
While Strategy believes in Bitcoin's long-term value, its recent extreme price volatility and market weakness are negatively impacting the company's fundamentals in the short term. In particular, with Bitcoin trading at prices more than 30% below its average purchase price, it will likely take more time for the holdings to turn profitable.
Experts point out that while Strategy's bold Bitcoin strategy could potentially translate into significant profits in a future bull market, it could also pose a structural risk in times of weakened investor sentiment or financial conditions.
Ultimately, Strategy is sticking to its Bitcoin-centric asset management strategy, even as it endures short-term losses. However, as Bitcoin's volatility continues, the sustainability of this strategy is likely to remain a concern for the foreseeable future.
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If you believe in Bitcoin's long-term value and adhere to a buying strategy like Strategy, you must be able to analyze the "psychology of peaks," the "meaning of average unit prices," and the "structure of collateralized credit products." This is a time when risk management and fundamental assessment based on market cycles are essential, beyond simple coin accumulation.
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Analysis of the correlation between global liquidity and Bitcoin price.
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2026 may be the last opportunity to prepare for a "strategic profit shift," rather than a simple acquisition.
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This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.
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