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.