MicroStrategy Swings to Wider-Than-Expected Loss, Rebrands as ‘Strategy’

MicroStrategy (MSTR) reported a wider-than-expected loss for the fourth quarter and said it is changing its name to “Strategy.”

The largest corporate holder of bitcoin saw revenue fall 3% year-over-year to $120.7 million, below the analyst consensus compiled by Visible Alpha. The company swung to a wider-than-expected loss of $670.8 million, or $3.03 per share, from a profit of $89.1 million, or 50 cents per share, a year earlier.

During the quarter, Strategy purchased 218,887 bitcoins for $20.5 billion, its largest-ever quarterly increase. The company has added even more bitcoin to its stockpile in 2025, buying 10,107 bitcoin for approximately $1.1 billion from Jan. 21 to Jan 26, the twelfth week in a row such a purchase was announced. The move brought its total to 471,107 bitcoin, which would be worth about $45.65 billion at the cryptocurrency’s price near $97,000.

Strategy did not use a new Financial Accounting Standards Board rule for fair value accounting on its cryptocurrency holdings for the fourth quarter, but is expected to do so when it reports first-quarter earnings.

The results come as the price of bitcoin has more than doubled over the past year, with a roughly 40% increase since President Donald Trump’s election victory, amid expectations of a friendlier regulatory environment for the crypto industry. After taking office, Trump signed an executive order setting up a group to examine current crypto regulations.

As part of the company’s rebranding announced Wednesday, Strategy is also changing its logo to feature a stylized letter B, “signifying the company’s Bitcoin strategy.”

Shares of Strategy were little changed in extended trading Wednesday following the release. The stock is up close to 600% over the last 12 months, outperforming bitcoin.