Strategy posts $8.2B Q2 loss as Bitcoin slump drives unrealized losses
Summary
Strategy reported an $8.22 billion Q2 net loss, mainly from an $8.32 billion unrealized loss on Bitcoin as BTC prices fell during the quarter. By July 26, it held 843,775 BTC, up 25% year to date, even after selling about $218.4 million in Bitcoin to help fund preferred dividend payments. The company also built a $3.75 billion cash reserve to cover more than two years of dividend and interest obligations. It repurchased $25 million of STRC preferred shares and plans more buybacks below par. Bitcoin fell about 14% in Q2, while MSTR shares rose 4.7% before easing after hours.
