Strategy’s quarterly figures leave little to the imagination. Due to the falling Bitcoin (BTC) price, the company suffered an unprecedented loss of $ 17.4 billion in the fourth quarter of 2025. Yet the largest corporate investor in Bitcoin continues to purchase unabated.
Bitcoin price plummets, losses explode
Strategy, once a pure software provider but now best known as the largest Bitcoin treasury in the world, took a financial hit in the fourth quarter. The introduction of new accounting rules, whereby crypto assets are valued at market value, caused a huge fluctuation in the results.
Wat is fair value accounting?
Since 2025, American companies have been required to value their crypto assets at market price. This so-called fair value accountingrule ensures that price fluctuations are immediately reflected in the quarterly figures. As a result, profits and losses can fluctuate considerably, as with Strategy.
Although Bitcoin reached a record high of $126,000 in October 2025, the currency closed the year around $87,000. That left Strategy with a paper loss of $17.4 billion in Q4. For the full year, the total loss rose to $5.4 billion.
At the same time, the losses allowed the company to claim a $5 billion tax benefit. This means that the net damage is slightly lower, but the impact on sentiment around the share is clear: since the peak in November 2024, Strategy’s price has fallen by almost 70 percent.
Strategic cash position and unprecedented BTC supply
Yet it is not all bad news. Strategy still has an impressive dollar reserve of $2.25 billion. That amount is intended to pay interest and dividend on the perpetual preferred shares, without the company having to sell BTC. Analysts consider that buffer sufficient to survive a long ‘crypto winter’.
Strategy’s total Bitcoin inventory as of January 4, 2026 was a whopping 673,783 BTC, purchased at an average price of $75,026 each. At a current price of over $92,000, these coins represent a value of approximately $62 billion.
New purchase underlines confidence
Despite the losses, Strategy continues to stick to its aggressive purchasing strategy. Between December 29 and January 4, the company purchased an additional 1,286 BTC for a total of $116 million. On average, just over $90,000 was paid per coin, which at current prices results in an immediate profit.
Source: https://newsbit.nl/q4-ramp-voor-strategy-miljardenverlies-door-dalende-bitcoin-koers/
