Strategy Posts $19.53B Quarterly Profit, Almost All From Bitcoin Mark-Up
MSTR sits 40% above its 52-week low of $81.81.
Summary
Strategy's $19.53 billion quarterly net profit is almost entirely a book gain: $20.91 billion of operating revenue came from marking its Bitcoin holdings up, not from selling coins. The actual software business brought in $125.4 million, down 3% year over year, and full-year 2025 revenue of $477.2 million is still below the $486.3 million booked in 2019 — the operating company is shrinking while the balance sheet does the earning. The bigger near-term issue is MSCI: Strategy comes out of the MSCI USA Index after the close on November 30, with knock-on effects in the World and All Country World indexes, and the company estimates index-tracking funds hold about 13 million MSTR shares, or 3.1% of the common. Management calls that manageable and says the removal does not force Bitcoin sales, but index funds that must track the benchmark will have to sell regardless of the company's view. Watch the November 30 close — that is when the rebalance selling lands.
At the time of this announcement, MSTR was trading at $114.19 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $48.3B. The 52-week trading range was $81.81 to $234.84. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Binance News.