Strategy Reports $3.9B Bitcoin Gains, Pauses Purchases After Building 640K Holdings

Strategy, a leading corporate holder of Bitcoin, reported a $3.9 billion unrealized gain on its approximately 640,000 Bitcoin holdings during the third quarter of 2025, reflecting Bitcoin's climb to near all-time highs and institutional adoption. The company's average purchase price per Bitcoin is around $74,000, with current valuations near $79 billion, resulting in roughly $31 billion in unrealized gains. Despite this appreciation, Strategy paused its Bitcoin accumulation for the first time since April, coinciding with dividend payments and the end of the fiscal quarter, as signaled by Executive Chairman Michael Saylor. The firm manages significant deferred tax liabilities totaling over $7 billion, with a $1.12 billion tax expense for the quarter, underlining the importance of tax-aware strategies in managing such large crypto holdings. Strategy's shares have rallied steadily throughout the year, reflecting investor confidence amid Bitcoin's price surges. The company operates multiple Bitcoin-focused investment vehicles, balancing long-term holding strategies with periodic profit-taking and disclosure priorities as emphasized by the SEC.