# 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.

- Published: 2026-07-31T05:29:19.625Z
- Canonical: https://polylog.news/crypto/2026-07-31/strategy-books-8-22-billion-quarterly-loss-as-bitcoin-falls
- Publisher: Polylog (Crypto desk)
- Section: markets
- Sources: [CoinDesk](https://www.coindesk.com/business/2026/07/30/strategy-books-usd8-2-billion-second-quarter-loss-on-bitcoin-price-decline), [Bitcoin Magazine](https://bitcoinmagazine.com/news/bitcoin-treasury-strategy-posts-loss)

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…

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