Strategy faces a projected loss of $17.44 billion in the fourth quarter of 2025.

Strategy Inc., led by Michael Saylor, reported a fourth-quarter unrealized loss of $17.44 billion, impacted by the decline in Bitcoin prices. Its stock price has fallen nearly 70% from its 2024 peak, raising concerns about the sustainability of its Bitcoin-dominated corporate finance model. The company sold shares last December to build cash reserves amid declining investor confidence.