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AI brief of an SEC Form 8-K · Strategy Inc Common Stock (MSTR)

Strategy posts $14.05 billion unrealized Q2 gain on bitcoin; holds 597,325 BTC

Mixed Impact 3 of 5 earnings Written later

Strategy reported an unrealized gain on digital assets of $14.05 billion for the quarter ended June 30, 2025, but also recorded an associated deferred tax expense of $4.04 billion. The filing shows $6.8 billion in aggregate net proceeds from capital markets transactions in the quarter, and the company held 597,325 bitcoin as of July 6, 2025, with no bitcoin acquired in the July 1 to July 6 period. The financial information is unaudited, as KPMG LLP has not audited or reviewed it.

Key points

  • Unrealized gain on digital assets of $14.05 billion in Q2 2025, with deferred tax expense of $4.04 billion
  • Digital asset carrying value of $64.36 billion as of June 30, 2025, with a related deferred tax liability of $6.31 billion
  • Aggregate net proceeds of $6.8 billion received in Q2 2025 from preferred stock and common stock programs
  • Bitcoin holdings of 597,325 as of July 6, 2025, with no bitcoin acquired from June 30 to July 6, 2025

The filing

CompanyStrategy Inc Common Stock (MSTR)
Form8-K, current report
Filed with the SECJul 7, 2025, 7:59 AM ET
Accession number0000950170-25-094137

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 07, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.