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- Strategy Inc expanded its Bitcoin holdings to 713,502 coins, reinforcing its position as the largest corporate Bitcoin holder.
- The company raised $25.3 billion in 2025, boosting its Digital Credit platform and maintaining STRC price stability.
- STRC and MSTR continue to operate as complementary tools, amplifying Bitcoin per Share value for investors.
Strategy Inc, the world’s first Bitcoin treasury company, released its financial results for the fourth quarter of 2025. The company raised $25.3 billion in capital last year to advance its Bitcoin treasury strategy.
This made Strategy Inc the largest equity issuer among U.S. public companies for the second consecutive year. By January 2026, its Bitcoin holdings had reached 713,502 coins, including 41,002 acquired in that month alone. The company’s flagship digital credit instrument, STRC, grew to $3.4 billion.
STRC liquidity increased while volatility declined, supporting its variable dividend rate set at 11.25%. This approach helped maintain STRC’s price near $100 despite weaker Bitcoin market conditions. Strategy’s leadership emphasized continued growth for Bitcoin Per Share (BPS) in 2026.
Strategy’s STRC and MSTR Operate as Complementary Components
For the fourth quarter of 2025, Strategy Inc reported an operating loss of $17.4 billion. This included an unrealized loss on its digital assets under fair value accounting. Net loss reached $12.4 billion, or $42.93 per share, compared with a net loss of $670.8 million for the same quarter in 2024.
Cash and cash equivalents increased to $2.3 billion, reflecting the establishment of a USD Reserve. This reserve provides over 2.5 years of coverage for dividend obligations, strengthening the company’s credit profile. Total revenues for Q4 rose slightly to $123 million.
Subscription services grew 62.1%, while product licenses and support also contributed to revenue growth. Strategy also executed five preferred equity IPOs in 2025. These offerings supported the expansion of its Digital Credit platform.
The platform is designed to reduce Bitcoin volatility and offer tax-deferred fixed income. STRC and MSTR now operate as complementary components, with STRC amplifying value for MSTR investors and MSTR absorbing Bitcoin price fluctuations for STRC holders.
Executives Focus on Bitcoin-Backed Credit Ecosystem
Strategy achieved a full-year 2025 Bitcoin yield of 22.8%, surpassing its target range. Total Bitcoin gains for the year reached 101,873 coins, valued at $8.9 billion based on year-end pricing. The company’s digital assets have an original cost basis of $54.26 billion and a market value of $59.75 billion as of early 2026.
Capital market activity remained strong. Strategy raised $5.6 billion in Q4 2025 and an additional $3.9 billion in early 2026 through common and preferred stock programs. The STRC dividend framework continues to adjust monthly based on stock performance, aiming to maintain stability near $100 per share.
Executives emphasized the long-term strategy of building a Bitcoin-backed digital credit ecosystem. This structure reinforces Strategy Inc’s position as a dominant issuer of Bitcoin-backed instruments while providing amplified returns and stability for investors.
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