Strategy Reports Wide Miss in Q2 Earnings Amid Bitcoin Price Decline
Michael Saylor’s Strategy (Nasdaq: MSTR) reported a significant net loss of $8.22 billion for the second quarter of 2026, missing analysts' expectations by a wide margin due to declining Bitcoin prices impacting its holdings. The company recorded a diluted loss per share of $24.45 compared to an expected loss of $2.19 per share. Strategy attributed nearly all of this operating loss to an unrealized drop in the value of its Bitcoin portfolio, which totaled 843,775 BTC with an average purchase price of $75,476. Despite a revenue increase to $122.4 million from $114.5 million year-over-year, Strategy paused Bitcoin purchases for five consecutive weeks during the quarter and instead focused on strengthening its balance sheet through capital raising activities. The company raised $8.41 billion via stock offerings in Q2 and repurchased $1.5 billion of convertible debt to reduce obligations. Michael Saylor reaffirmed his long-term belief in Bitcoin, stating that governments cannot stop its adoption despite being able to influence the pace. Strategy shares rose 4.4% on July 30 but remain down significantly year-to-date.
