Strategy posts $12.4B Q4 loss as Bitcoin sinks to $64K and stock tumbles 17%

Strategy reported a $12.4 billion net loss for the fourth quarter of 2025 as it announced its financial results Thursday, with Bitcoin falling to $64,000 amid a sharp crypto market downturn.

The report follows one of Bitcoin’s worst trading days since the October 2025 flash crash, with the asset falling more than 12% on the day. The drawdown puts Strategy’s 713,502 $BTC holdings deep underwater, translating to a $7.5 billion paper loss based on the company’s disclosed $76,052 average cost per coin.

The selloff hammered Strategy’s stock price, which fell 17% to $106, erasing year-to-date gains and bringing it near levels last seen in August 2024.

Despite the volatility, Strategy emphasized its long-term commitment to Bitcoin-backed credit. “We raised $25.3 billion of capital in 2025 to advance our Bitcoin treasury strategy,” said CEO Phong Le, adding that 41,002 $BTC were acquired in January 2026 alone.

The company’s USD Reserve now stands at $2.25 billion, providing more than 2.5 years of dividend and debt coverage. Its STRC credit product has reached $3.4 billion in issuance with an adjustable 11.25% dividend rate designed to maintain price stability.