Bitcoin News Today: Strategy's Bitcoin Yields 26.1% as Stock Tumbles 45% Amid Skepticism

Strategy's Bitcoin Holdings Surpass 641,000 BTC, Yielding 26.1% Return in 2025

Strategy Inc. (NASDAQ:MSTR), the largest corporate holder of Bitcoin, has expanded its digital treasury to 641,205 BTC following a $45.6 million purchase last week, marking a 26.1% year-to-date Bitcoin yield. The firm's latest acquisition, funded primarily through common stock and preferred share issuances, brings its total Bitcoin holdings to $69.5 billion in notional value, representing over 3% of the cryptocurrency's total supply, according to Coindesk.

The move underscores Strategy's unwavering commitment to Bitcoin as its primary treasury reserve asset, despite recent market volatility. CEO Phong Le confirmed during the Q3 2025 earnings call that the company remains focused on "buying the top forever," a strategy that has driven record financial performance. For the quarter, Strategy reported $3.9 billion in operating income and $2.8 billion in net income, with earnings per share (EPS) reaching $8.43, as detailed in the Q3 earnings call. Year-to-date, the firm has generated a BTC yield of 26% and a $13 billion gain, reaffirming its full-year guidance of $34 billion in operating income and $24 billion in net income, according to CryptoNews.

The recent purchase of 397 BTC at an average price of $114,771 was financed through a combination of equity offerings, including the sale of 183,501 Class A common shares and preferred stock tranches, according to Benzinga. This approach aligns with Strategy's at-the-market (ATM) equity program, which has raised $19.8 billion year-to-date to fund Bitcoin accumulation, the company said. The firm's balance sheet now includes $54.3 million in cash and cash equivalents, up from $38.1 million in December 2024, according to Yahoo Finance.

Strategic Shifts and Market Challenges

Strategy has rejected potential mergers with other Bitcoin-focused firms, opting instead to strengthen its digital credit offerings and expand globally, a Yahoo Finance article reported. Executive Chairman Michael Saylor emphasized that mergers carry "delays, uncertainty, and hidden risks," diverting attention from the company's core strategy of issuing digital credit instruments and buying Bitcoin. The firm's credit products—STRC, STRD, STRF, and STRK—target diverse investor preferences, from low-volatility instruments to high-yield derivatives, as shown in the earnings call transcript.

Despite its financial success, Strategy faces headwinds. Its stock has fallen 45% from its November 2024 peak, partly due to investor skepticism about its preferred stock program, a Yahoo Finance article noted. Additionally, the company's profitability is heavily tied to Bitcoin's price, which recently dipped below $108,000 after a rocky two-week period, Coindesk reported. Saylor, however, remains bullish, forecasting a $150,000 BTC price by year-end and citing the firm's $42 billion ATM capacity as a buffer against short-term volatility, the company said.

Competitive Landscape and Regulatory Scrutiny

The firm's strategy contrasts with that of Brazilian Bitcoin treasury OranjeBTC, which recently halted BTC purchases to repurchase shares at a discount to its net asset value, a Yahoo Finance report said. This move highlights growing scrutiny over capital allocation practices in the corporate Bitcoin space, particularly as prices fluctuate. Meanwhile, Strategy's adoption of fair value accounting has added $18 billion in transparency to its digital assets, a factor that could bolster investor confidence, the Q3 earnings call showed.

Looking ahead, Strategy aims to expand its credit offerings into international markets while maintaining its focus on Bitcoin accumulation. With $8.2 billion in convertible debt and $6.7 billion in preferred equity outstanding, the firm's financial structure remains leveraged but stable, Yahoo Finance noted in a separate article. As the crypto market navigates regulatory and macroeconomic uncertainties, Strategy's aggressive BTC buying and diversified credit model position it as a key player in the evolving corporate Bitcoin landscape.