Bitcoin treasury company Strategy reported a loss of $8.22 billion for the second quarter of 2026 thanks to the falling price of the leading cryptocurrency.
In its quarterly report, Nasdaq-listed Strategy (MSTR) — formerly MicroStrategy — put the loss down to the Bitcoin price crash, even as the company continued raising capital, buying more Bitcoin and paying down debt.
In the same period of 2025, Strategy reported a net income of $10.02 billion.
“In the second quarter of 2026, Strategy strengthened its balance sheet while navigating a meaningful Bitcoin price decline,” Strategy CEO and President Phong Le said in a statement.
Chairman and the architect behind the software company’s Bitcoin-buying masterplan, Michael Saylor, added: “In the midst of this phase of muted Bitcoin sentiment and market skepticism, we continue to evolve our business model and establish digital credit as a new asset class.”
Bitcoin’s price is down nearly 50% from the all-time high of $126,080 it notched in October 2025. The leading cryptocurrency was recently priced at $64,745, down 26% year-to-date.
Over the quarter, the Tysons, Virginia-based company said it increased its Bitcoin holdings by 11%. Strategy now holds 843,775 Bitcoins worth $54.6 billion at today’s prices.
Strategy for the past five weeks had paused its Bitcoin buys, instead focusing on putting more cash on its balance sheet.
Investors buy Strategy’s stock to get leveraged exposure to Bitcoin. But when the price of the asset dips, MSTR also suffers.
MSTR stock is currently down over 80% from its 2024 peak of over $500 per share.
The company has other offerings, including STRC, a product that pays investors a dividend.