Strategy may disclose a multi-billion dollar loss in the fourth quarter of 2025 due to a 24% drop in Bitcoin holdings, resulting in a significant book loss. If true, this would mean Strategy could wipe out the $2.8 billion profit recorded in the previous quarter due to the Bitcoin crash. With Strategy's corporate value nearing the value of its Bitcoin holdings, concerns have arisen that the group may need to sell its Bitcoin holdings. To alleviate these concerns, Strategy built cash reserves by selling common stock on December 1st. Strategy previously projected a full-year operating performance between a loss of $7 billion and a profit of $9.5 billion, assuming Bitcoin trades between $85,000 and $110,000. (Bloomberg)