MSTR
Earnings? Sure. Bitcoin? Always.
Strategy (NASDAQ: MSTR) reported Q2 results after Thursday’s close and missed revenue expectations by a hair, posting $122.39 million versus the $122.91 million analysts were looking for. Not exactly a face-plant, but not a victory lap either.
The real plot twist: the Bitcoin stash
If you’re tracking Strategy, the revenue line is almost a warm-up act. The company said it now holds 843,775 Bitcoin, making it the largest institutional holder on the planet. That’s the kind of balance sheet move that turns a software company into a very loud Bitcoin proxy.
A few details from the report worth bookmarking:
- BTC yield hit 4.5% year to date
- BTC gain reached 29,997 coins in 2026 YTD
- BTC dollar gain totaled $1.95 billion using a July 27 Bitcoin price of $64,915
- Digital assets were valued at $54.77 billion as of July 26, with an average cost basis of about $75,476 per coin
Saylor’s message: keep the machine humming
Michael Saylor said the company is trying to bring its STRC preferred shares back to health and sees “Digital Credit” as the next big thing. Translation: Strategy isn’t just stacking Bitcoin anymore, it’s also trying to build a financing engine around it. That’s either visionary, risky, or both — which is very on brand.
Why investors care
The stock slipped about 0.67% to $97.09 in after-hours trading, so the market didn’t exactly throw confetti. Big picture: Strategy is still betting that Bitcoin upside can outrun the messiness of quarterly revenue. If that bet works, great. If not, you’ve got a very expensive crypto roller coaster with a ticker attached.