Strategy Records $17.44 Billion Unrealized Loss in Fourth Quarter -- WSJ

Dow Jones

01/06

By Vicky Ge Huang

Strategy, the bitcoin accumulation firm founded by Michael Saylor, recorded a $17.44 billion unrealized loss in the fourth quarter after a sharp decline in the value of its bitcoin stash.

The loss was partly driven by a fair value accounting standard adopted by Strategy last year. Under this rule, companies holding digital assets are required to show the fair value of their cryptocurrencies on their balance sheets at the end of each quarter. The company also recorded a $5.01 billion associated deferred tax benefit in the quarter.

Shares of Strategy plunged 48% in 2025, mirroring a gloomy year for bitcoin. The largest cryptocurrency itself fell more than 6% last year, its worst annual performance since 2022.

Still, both Strategy and bitcoin are off to a strong start in 2026. Bitcoin climbed near $94,000 as of Monday morning, while Strategy gained about 4%. The company said it snapped up about $116 million worth of bitcoin in the seven days ended Jan. 4.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

January 05, 2026 12:08 ET (17:08 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 05, 2026 12:08 ET (17:08 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Strategy Records $17.44 Billion Unrealized Loss in Fourth Quarter -- WSJ</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStrategy Records $17.44 Billion Unrealized Loss in Fourth Quarter -- WSJ\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2026-01-06 01:08</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n       By Vicky Ge Huang \n</p>\n<p>\n     <a href=\"https://laohu8.com/S/MSTR\">Strategy</a>, the bitcoin accumulation firm founded by Michael Saylor, recorded a $17.44 billion unrealized loss in the fourth quarter after a sharp decline in the value of its bitcoin stash. \n</p>\n<p>\n     The loss was partly driven by a fair value accounting standard adopted by <a href=\"https://laohu8.com/S/STRF\">Strategy</a> last year. Under this rule, companies holding digital assets are required to show the fair value of their cryptocurrencies on their balance sheets at the end of each quarter. The company also recorded a $5.01 billion associated deferred tax benefit in the quarter. \n</p>\n<p>\n     Shares of Strategy plunged 48% in 2025, mirroring a gloomy year for bitcoin. The largest cryptocurrency itself fell more than 6% last year, its worst annual performance since 2022. \n</p>\n<p>\n     Still, both Strategy and bitcoin are off to a strong start in 2026. Bitcoin climbed near $94,000 as of Monday morning, while Strategy gained about 4%. The company said it snapped up about $116 million worth of bitcoin in the seven days ended Jan. 4. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 05, 2026 12:08 ET (17:08 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"07399","symbol_name":"南方兩倍沽空MSTR","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2601835769","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2601835769","pubTimestamp":1767632880,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Strategy, the bitcoin accumulation firm founded by Michael Saylor, recorded a $17.44 billion unrealized loss in the fourth quarter after a sharp decline in the value of its bitcoin stash.The loss was partly driven by a fair value accounting standard adopted by Strategy last year. 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The company said it snapped up about $116 million worth of bitcoin in the seven days ended Jan. 4.This item is part of a Wall Street Jo","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"07399":"南方两倍做空MSTR","BK4585":"ETF&股票定投概念","MSTW":"Roundhill MSTR WeeklyPay ETF","MSTX":"2倍做多MSTR ETF-Defiance","WNTR":"做空MSTR期权收益策略ETF-YieldMax","MSTY.UK":"YIELDMAX MSTR OPTION INCOME STRATEGY ETC","07799":"南方两倍做多MSTR","MSTY":"MSTR期权收益策略ETF-YieldMax","BK4516":"特朗普概念","MSST":"YieldMax MSTR Performance & Distribution Target 25 ETF","MSTZ":"2倍做空MSTR ETF-T-Rex","09799":"南方两倍做多MSTR-U","MST":"做多杠杆+收益MSTR ETF-Defiance","IMST":"MSTR期权收益策略ETF-Bitwise","BK4596":"哈里斯概念","BK4588":"碎股","MSII":"REX MSTR Growth & Income ETF","3SMI.UK":"GRANITESHARES 3X SHORT MSTR DAILY ETP","BK4600":"加密货币概念","MSTR":"Strategy","APED":"STKd 100% MSTR & 100% COIN ETF","SMI3.UK":"GRANITESHARES 3X SHORT MSTR DAILY ETP","BK4595":"比特币概念","MSTK":"Tuttle Capital MSTR 0DTE Covered Call ETF","MSDD":"2倍做空MSTR ETF-GraniteShares","MSTP":"2倍做多MSTR ETF-GraniteShares","SMST":"2倍做空MSTR ETF-Defiance","09399":"南方两倍做空MSTR-U","3LMI.UK":"GRANITESHARES 3X LONG MSTR DAILY ETP","MSOO":"2倍上限加速MSTR ETF-Leverage Shares","BK4023":"应用软件","LMI3.UK":"GRANITESHARES 3X LONG MSTR DAILY ETP","MTYY":"GraniteShares YieldBOOST MSTR ETF"},"translate_title":"Strategy第四季度未实现亏损174.4亿美元——华尔街日报","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MSOO":0.6,"MSTP":0.6,"09799":0.6,"MSTY":0.6,"MSST":0.6,"07399":0.6,"MSTR":1.97,"SMST":0.6,"MSTZ":0.6,"WNTR":0.6,"MSII":0.6,"MSTX":0.6,"07799":0.6,"IMST":0.6,"MST":0.6,"MSTK":0.6,"09399":0.6,"LMI3.UK":0.6,"MSDD":0.6,"SMI3.UK":0.6,"MSTW":0.6,"MBTmain":0.78,"MSTY.UK":0.6,"3SMI.UK":0.6,"3LMI.UK":0.6,"MTYY":0.6,"APED":0.6},"content_text":"By Vicky Ge Huang \n\n\nStrategy, the bitcoin accumulation firm founded by Michael Saylor, recorded a $17.44 billion unrealized loss in the fourth quarter after a sharp decline in the value of its bitcoin stash. \n\n\n     The loss was partly driven by a fair value accounting standard adopted by Strategy last year. Under this rule, companies holding digital assets are required to show the fair value of their cryptocurrencies on their balance sheets at the end of each quarter. The company also recorded a $5.01 billion associated deferred tax benefit in the quarter. \n\n\n     Shares of Strategy plunged 48% in 2025, mirroring a gloomy year for bitcoin. The largest cryptocurrency itself fell more than 6% last year, its worst annual performance since 2022. \n\n\n     Still, both Strategy and bitcoin are off to a strong start in 2026. Bitcoin climbed near $94,000 as of Monday morning, while Strategy gained about 4%. The company said it snapped up about $116 million worth of bitcoin in the seven days ended Jan. 4. \n\n\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n\n\n  (END) Dow Jones Newswires\n\n\n  January 05, 2026 12:08 ET (17:08 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}