Bitcoin News Update: Strategy’s Bitcoin Delivers 26.1% Return While Shares Drop 45% Due to Doubts

Strategy's

Holdings Exceed 641,000 , Achieving 26.1% Return in 2025

Strategy Inc. (NASDAQ:MSTR), recognized as the largest public company holding Bitcoin, has grown its digital asset reserves to 641,205 BTC after acquiring $45.6 million worth last week, resulting in a 26.1% Bitcoin return so far this year. The latest purchase, mainly financed through the issuance of common and preferred shares, brings the company’s total Bitcoin value to $69.5 billion, accounting for more than 3% of all Bitcoin in circulation, according to

.

This action highlights Strategy’s steadfast dedication to using Bitcoin as its main treasury asset, even amid recent market swings. During the Q3 2025 earnings report, CEO Phong Le reiterated the company’s ongoing commitment to “buying the top forever,” a

that has fueled record-breaking results. In the quarter, Strategy posted $3.9 billion in operating profit and $2.8 billion in net profit, with earnings per share (EPS) at $8.43, as outlined in the . So far this year, the company has achieved a 26% BTC return and $13 billion in gains, maintaining its full-year forecast of $34 billion in operating income and $24 billion in net profit, according to .

The recent acquisition of 397 BTC at an average cost of $114,771 was funded by a mix of equity offerings, including the sale of 183,501 Class A shares and preferred stock, as reported by

. This method is consistent with Strategy’s at-the-market (ATM) equity program, which has generated $19.8 billion this year to support Bitcoin purchases, according to the company. As of now, the company’s balance sheet shows $54.3 million in cash and equivalents, up from $38.1 million at the end of 2024, based on data from .

Strategic Adjustments and Market Obstacles

Strategy has declined merger opportunities with other Bitcoin-centric companies, choosing instead to enhance its digital credit products and broaden its international reach, as noted in a

. Executive Chairman Michael Saylor pointed out that mergers often bring “delays, uncertainty, and unforeseen risks,” which could distract from the company’s main focus on issuing digital credit and acquiring Bitcoin. The company’s credit offerings—STRC, STRD, STRF, and STRK—are designed to appeal to a range of investors, from those seeking stability to those interested in higher returns, as detailed in the .

Despite its strong financial results, Strategy is facing challenges. Its share price has dropped 45% since its November 2024 high, partly due to investor concerns about its preferred stock strategy, according to Yahoo Finance. Furthermore, the company’s earnings are closely linked to Bitcoin’s value, which recently fell below $108,000 after a turbulent fortnight, Coindesk reported. Saylor, however, remains optimistic, predicting Bitcoin could reach $150,000 by year-end and highlighting the firm’s $42 billion ATM program as a safeguard against short-term market swings, the company stated.

Industry Competition and Regulatory Oversight

The company’s approach differs from that of Brazil’s Bitcoin treasury OranjeBTC, which recently stopped buying BTC to repurchase its own shares at a discount to net asset value, according to a

. This decision reflects increasing scrutiny over how companies allocate capital in the Bitcoin sector, especially amid price volatility. At the same time, Strategy’s adoption of fair value accounting has added $18 billion in transparency to its digital assets, which could help strengthen investor trust, as discussed in the Q3 earnings call.

Looking forward, Strategy plans to grow its credit product line internationally while keeping Bitcoin accumulation at the center of its strategy. With $8.2 billion in convertible debt and $6.7 billion in preferred equity outstanding, the company’s financial position remains leveraged yet stable, according to Yahoo Finance in a separate

. As the cryptocurrency sector faces ongoing regulatory and economic challenges, Strategy’s bold Bitcoin acquisition and diversified credit offerings establish it as a leading force in the changing landscape of corporate Bitcoin investment.