Catenaa, Wednesday, July 09, 2025- MicroStrategy, now operating as Strategy, reported $14.05 billion in unrealized Bitcoin gains for the second quarter of 2025, propelled by Bitcoin’s price rebound and a new accounting standard recognizing fair value changes in real time.
The software firm, which shifted focus from software to Bitcoin, also launched a $4.2 billion Series A perpetual preferred stock offering under the ticker STRD. Proceeds will support corporate needs, including acquiring more Bitcoin.
Strategy holds 597,325 bitcoins purchased at an average cost of $70,982 each, with a total outlay of $42.4 billion. During Q2, the company added 69,140 bitcoins valued at $6.77 billion, funded through multiple equity offerings, including $979.7 million from the STRD stock sale.
Capital market activity generated $6.8 billion in net proceeds during the quarter, including sales from common and preferred stock programs.
About $18.1 billion of Class A common stock remains available for future issuance.
Bitcoin’s price ranged between $74,420 and $112,000 in Q2, ending at $107,751 on Coinbase. The volatile market caused significant fair value shifts, contrasting with a $5.91 billion unrealized loss in the prior quarter.
Strategy faces class-action lawsuits alleging inadequate disclosure of risks related to the new accounting standard. Meanwhile, analyst Jeff Walton estimates a 91% chance of Strategy’s inclusion in the S&P 500, pending sustained Bitcoin prices.
The company’s stock surged 40% in Q2, outperforming the S&P 500’s 11% gain, despite criticism from short-sellers questioning its valuation relative to Bitcoin holdings.
