Morning Edition · Friday, July 31, 2026Published at 1:29 AM EDT · New York
Strategy Books $8.22 Billion Quarterly Loss as Bitcoin Falls Below Its Cost Basis
The company says it now holds a $3.75 billion cash reserve, enough for more than two years of preferred dividends, after investors questioned its funding model.
Strategy, the largest corporate holder of bitcoin, reported a second-quarter loss of $8.22 billion, driven almost entirely by an $8.32 billion unrealized markdown on its bitcoin under fair-value accounting rules. The company held 843,775 bi…
Continue the Crypto Intelligence Brief
Track on-chain flows, protocol shifts, stablecoins, and regulation.
- 5 crypto intelligence signals a day
- Tracked crypto trends, day over day
- Stablecoin and regulatory movement
- Source-grounded analysis with confidence labels
The Global Intelligence Brief stays free.
Part of a tracked trend
Leveraged Bitcoin Treasury Vehicles Show Financing Strain
Over ~3-9 months, Bitcoin treasury companies face mounting financing stress as their funding instruments trade below par on dividend-coverage doubts, testing the sustainability of the debt/preferred-funded accumulation model.
More from this edition
- Coldcard Mk3 Owners Told to Move Coins After 594 Bitcoin Swept From Dormant Wallets
- BIS Moves Real Central-Bank and Commercial-Bank Money On-Chain in 28-Lender Payments Test
- CLARITY Act Heads Toward August Recess Without the Votes to Pass
- Privacy Layer-2s Push Confidential Smart Contracts Onto Ethereum as Aztec and Miden Ship
- Aave Proposes to Shut Deployments on Six Chains That Earn Almost No Revenue
- Blockstream's Simplicity Goes Live on Liquid Mainnet With Post-Quantum Signatures
- DeFi Total Value Locked Fell $43.4 Billion in the First Half of 2026, Binance Research Says
- DeFi Exploit Drains Roughly $578,000 as Seoul Police Break Up $19 Million Staking Fraud
- Coinbase Falls After Posting a Second-Quarter Loss and Lower Revenue
- US Sanctions Iranian Firms Accused of Taking Bitcoin for Strait of Hormuz Passage
- Bitchat Mesh App Keeps Running in India After a Cybercrime Notice, Spreading Peer to Peer