Bitcoin Slump Triggers $12.4 Billion Q4 2025 Loss for Strategy as Holdings Go Underwater

Strategy recorded a $12.4 billion net loss in the fourth quarter of 2025 after Bitcoin fell from about $120,000 in early October to roughly $89,000 by year-end, pushing its holdings below their average purchase price. The company now owns 713,502 BTC at an average cost of $76,052 per coin and ended the year with $2.25 billion in cash, while investors await guidance on how management will respond to the ongoing market downturn.