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Microstrategy, functioning as a strategy, recorded $ 14.05 billion in an unrealized Bitcoin profits during Q2 2025, promotion of the company to Exclusive level of corporate giants usually reserved for Amazon and JPMorgan Chase.
The dramatic turn from its software roots comes when the company at the same time launched a STRD stock program $ 4.2 billion to get additional bitcoins.
Bitcoin’s greatest profits, but still buy
A record quarterly profit is attributed to the regeneration of the Bitcoins Award and Updating Accounting Standards Strategy No. 2023-08effective 1 January 2025.
Within the new accounting model of the strategy, it recognizes changes in the real value in bitcoin tenure, as they occur rather than just recording losses of deterioration.
The company spent $ 4.04 billion in related deferred tax costs and holds a postponed tax liability of $ 6.31 billion.
In addition, the strategy notified Its 10.00% series and Perpetual Stride Preferred Stock offering a total of $ 4.2 billion through the AT-the-Market program.
The company expects disciplined sales for a longer period of time, taking into account business and volume conditions.
Net revenues will be used for general corporate purposes, including other bitcoin acquisitions and working capital requirements.
Since July 6, 2025, the strategy took place 597,325 bitcoins with a total purchase price of $ 42.40 billion and an average price of $ 70,982 for bitcoins.
During the quarter of 2025, the company received 69,140 bitcoins with a total value of $ 6.77 billion, funded by multiple capital offers, including $ 5.2 billion from ordinary stock programs and $ 979.7 million from STRD.
Activity on capital markets supports aggressive strategies of bitcoin accumulation
The strategy received $ 6.8 billion in a summary net revenue from various financial transactions during Q2 2025.
The increase in capital included $ 163.1 million from the ATM StrF program, $ 446.9 million from the StrK ATM and $ 979.7 million from the Strd subscribed, which was completed on June 10.
The common ATM program of the company company generated revenues of $ 2.4 billion before its completion, while the new joint program ATM 2025 contributed $ 2.9 billion.
Approximately 18.1 billion USD of the class shares and remains available for the future edition under the 2025 program, along with 20.5 billion Strk shares and $ 1.9 billion.
Preferred portfolio strategy in total $ 3.4 billion worth $ 315.9 million in annual dividends.
The company maintains outstanding convertible notes of $ 8.213 billion, while the conversion conditions were met for a quarter of 2025 based on 130% of the transfer price.
Maximum potential ordinary shares from a total of 24 439 825 shares.
Bitcoin market prices during Q2 ranged from $ 74,420,69 to $ 112,000.00, while the quarterly price for $ 107,751.68 for Coinbase.
Volatility has created considerable real value fluctuation and contrasts with an unrealized loss of $ 5.91 billion in Q1 2025.
The strategy warns that the results will not be comparable to the periods before 2025 as a result of changes in accounting.
There will be legal challenges and prospects for inclusion S&P 500
The strategy faces more court disputes concerning false and misleading statements concerning the profitability and risks of its bitcoin strategy.
Pomerantz LLP filed a lawsuit representing shareholders who bought shares between April 30, 2024 and 4 April 2025, with the date of July 15 for other investors to join.
New York Law Firm Pomerantz filed a lawsuit against Michael @SaYlor‘with @StrategyAccusation of a company focused on Bitcoins from misleading investors.#Bitcoin #Saylorhttps://t.co/zwech2nytq
– Cryptonews.com (@cryptonews) 3 July 2025
The lawsuit focuses on accepting the ASU 2023-08 strategies and claims that the Company has not explained the potential impact on its financial results.
The complaint mentioned unrealized publication of losses of $ 5.9 billion in the fourth quarter of 2025, which caused an 8% drop in the price of the shares and the detected risks of volatility reportedly reduced by management.
Financial analyst Jeff Walton calculated This strategy has a 91% chance of incorporating the S&P 500, assuming that bitcoins maintains a level above $ 95,240 to June 30.
The company requires cumulative positive earnings in four neighborhoods for competence, with Q2 a strong dependent on the real value of bitcoins, due to three consecutive quarterly losses.
Critics, including a short seller Jim Chanos, have intensified their opposition to the strategy business modelIt calls “financial Gibberish” and notes that the market capitalization of $ 100 billion exceeds its $ 60 billion in bitcoin tenure.
Chanos recommends shortening MST’s stocks when buying bitcoins direct, and the bonus planting will eventually close.
Strategy shares have gained 3 130% since the start of Bitcoin purchases in mid -2020, compared to 1,000% of Bitcoins and the S&P 500 increase in the same period.
Shares in the fourth quarter advanced by 40% and exceeded 11% quarterly S&P profit while inspiring corporate imitators like as Ether strategy Sharpink Gaming.
Contribution Microstrategy reports Bitcoin profits of $ 14b in the fourth quarter at the start of 4.2B STRD shares to buy more BTC He appeared for the first time Cryptonews.
