Strategy, a prominent player in the digital asset space, has reported a monumental third quarter in 2025, driven by its substantial Bitcoin holdings. The company's strategic accumulation of the leading cryptocurrency has propelled it to unprecedented financial heights, significantly boosting its market capitalization and solidifying its position among the largest public firms in the United States.
Bitcoin Portfolio Fuels Remarkable Gains
During the third quarter of 2025, Strategy recorded an impressive $3.89 billion in unrealized gains from its Bitcoin (BTC) investments. This surge, occurring as Bitcoin traded above $125,000, saw the company's total digital asset portfolio value exceed $80 billion for the first time. As of early October, Strategy held an astounding 640,031 BTC, acquired at an aggregate price of $47.35 billion, with an average cost basis of $73,983 per BTC. This exceptional performance has not only highlighted the success of its aggressive Bitcoin strategy but also positioned Strategy as the 106th largest publicly traded company in the US, with a market capitalization surpassing $101 billion, notably outranking Coinbase.
Strategic Accumulation and Transparent Accounting
Strategy's continued commitment to Bitcoin accumulation was evident in Q3 2025, during which it acquired an additional 42,706 BTC at an average purchase price of $115,959 per coin. These significant acquisitions were strategically funded through various at-the-market equity offerings, including substantial proceeds from its Class A common stock and STRC preferred stock programs. Furthermore, the company's adoption of Accounting Standards Update No. 2023-08, effective January 1, mandates the recognition of fair value changes in digital assets on its financial statements, providing increased transparency and reflecting the true impact of its Bitcoin investments on its operational results.
