---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-001550"
form_type: "8-K"
ticker: "MSTR"
cik: "0001050446"
company_name: "Strategy Inc"
filed_at: "2026-01-05T23:59:59+00:00"
generated_at: "2026-05-16T11:37:57.054187+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Strategy Inc reports Q4 2025 $17.44B unrealized loss on digital assets and BTC holdings update

## Summary
- Strategy sold 1,255,911 MSTR shares (Dec 29-31) for $195.9M and 735,000 shares (Jan 1-4) for $116.3M via ATM.
- Acquired 3 BTC at avg $88,210 (Dec 29-31) and 1,283 BTC at avg $90,391 (Jan 1-4); total BTC holdings now 673,783.
- Q4 2025 unrealized loss on digital assets was $17.44B with $5.01B deferred tax benefit; carrying value at Dec 31: $58.85B.
- USD Reserve balance as of Jan 4, 2026 was $2.25B to support preferred stock dividends and debt interest.

## SEC filing metadata
- accession: 0001193125-26-001550
- form_type: 8-K
- ticker: MSTR
- cik: 0001050446
- company_name: Strategy Inc
- filed_at: 2026-01-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050446/000119312526001550/0001193125-26-001550-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050446/000119312526001550/mstr-20260105.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-001550
- JSON: https://secwatch.observer/filing/0001193125-26-001550.json
- Plain text: https://secwatch.observer/filing/0001193125-26-001550.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.