✅Strategy: A Summary of Wall Street Analyst Evaluations Following Massive Q4 Loss 🔍Key Points • Wall Street analysts' comments are focused on Strategy after the company announced a massive net loss for Q4 2025 • Bitcoin valuation losses account for the majority of the loss • The prevailing view is that the fundamentals of the core software business remain largely unchanged ✅Market Reactions Following Earnings • Bitcoin price decline → Large losses reflected through adjustments to the book value of BTC holdings • Short-term concerns raised about cash flow and liquidity • Increased stock price volatility, but not structural damage ✅Wall Street Analyst Perspectives • Bitcoin exposure is said to excessively increase corporate value volatility • At the same time, the BTC leverage strategy remains a core element of Strategy's investment story • Software revenue is stable, and the core business maintains a defensive nature ✅Evaluation Points • Strategy has become more of a "Bitcoin proxy" • Bitcoin price direction is a more important variable than earnings when analyzing stock prices • Traditional software company Applying valuation metrics is becoming increasingly difficult. ✍️ This Q4 loss appears to be viewed not as a management failure, but rather as a numerical example of the volatility of the strategy of incorporating Bitcoin as a core asset. #Strategy #Bitcoin #BTC #Sailor