Michael Saylor’s Strategy, the world’s largest corporate holder of Bitcoin, reported $14 billion in unrealized gains on its holdings in the second quarter of 2025.
The company recorded an unrealized gain on its digital asset holdings of $14.05 billion, along with a deferred tax expense of $4.04 billion, according to a filing with the US Securities and Exchange Commission on Monday
“As of June 30, 2025, the Company’s digital asset carrying value was $64.36 billion, with a related deferred tax liability of $6.31 billion,” the filing stated.
Despite the gains, Strategy paused its Bitcoin buying spree last week, with the company’s BTC holdings remaining at 597,325 BTC following its recent 4,980 BTC purchase.
First weekly purchases skipped since April 2025
Strategy’s decision to skip buying Bitcoin came as prices fell to $105,400 last Tuesday, before briefly surging above $110,000 on Thursday, according to CoinGecko data.
The pause marked the first time since April that Strategy skipped a weekly Bitcoin purchase. The company previously paused acquisitions when Bitcoin fell below $87,000.
Following the previous pause, Strategy resumed with a 3,459 BTC purchase announced on April 14, two weeks after the previous buy of 22,048 BTC on March 31.
The newly released official Strategy figures are slightly above the estimations by Bloomberg analysts, who last week projected the company to report at least $13 billion in unrealized gains for 2Q 2025.
New $4.2 billion STRD ATM program
In addition to releasing the second quarter results, Strategy also announced its latest $4.2 billion at-the-marketing (ATM) offering on Monday.
The company has entered into a sales agreement under which Strategy may issue and sell shares of its 10% Series A perpetual Stride (STRD) preferred stock at the price of $0.001 per share.
Similar to other Strategy offerings, including the $21 billion STRK ATM, the new ATM program is an equity-raising mechanism designed to allow the company to gradually sell newly issued shares to buy more Bitcoin.
According to an investor presentation accompanying the new $4.2 billion STRD ATM announcement, Strategy has so far issued $477 million STRK and $163 million STRF ATMs.
The total remaining ATM capacity across the programs is $44.8 billion, including $18.1 billion for MSTR, $4.2 billion for STRD, $20.5 billion for STRK and $1.9 billion for STRF, Strategy reported.
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