Catenaa, Wednesday, October 08, 2025-Strategy reported a $3.9 billion unrealized gain on its Bitcoin holdings in Q3 2025, reflecting the cryptocurrency’s continued market surge.
As of October 5, the firm held 640,031 BTC with a total fair value of $47.35 billion, while the carrying value on its balance sheet stood at $73.21 billion.
No new Bitcoin purchases were made during the reporting period, with the firm’s average acquisition cost at $73,983 per BTC.
The substantial gain contributed to a $1.12 billion deferred tax expense, highlighting the accounting impact of Strategy’s digital asset exposure.
The filing also detailed Strategy’s at-the-market (ATM) programs for equity issuance, totaling $63.9 billion in potential capital across preferred and common stock.
These include Series A Perpetual Strife Preferred Stock (STRF) at $2.1 billion, Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) at $4.2 billion, Series A Perpetual Strike Preferred Stock (STRK) at $21 billion, Series A Perpetual Stride Preferred Stock (STRD) at $4.2 billion, and Class A common stock (MSTR) at $21 billion. No new shares were sold during the period.
The filing emphasizes Strategy’s continued focus on Bitcoin as its core corporate reserve, positioning the company as one of the largest institutional holders globally. Financial reporting was reviewed internally and by KPMG LLP, Strategy’s independent auditor.
