Strategy Reports $17.4 Billion Unrealised Bitcoin Loss as Crypto Volatility Bites
GeokHub
NEW YORK, Jan 5 — GeokHub Strategy, the world’s largest corporate holder of bitcoin, reported a massive unrealised loss of $17.44 billion on its digital asset holdings in the fourth quarter, reflecting the sharp decline in cryptocurrency prices late last year.
The paper loss weighed heavily on investor sentiment, with Strategy shares falling about 47.5% in 2025 as extreme swings in the crypto market rattled the company’s balance sheet and earnings outlook.
Full-Year Losses Deepen
For the full year ended December 31, 2025, Strategy recorded a total unrealised digital asset loss of $5.40 billion, underscoring the risks faced by companies that hold large amounts of bitcoin on their balance sheets.
In December, the company cut its earnings forecast for 2025, citing prolonged weakness in bitcoin prices and continued market volatility.
Liquidity and Reserves
Despite the losses, Strategy said it held $2.25 billion in U.S. dollar reserves as of January 4, 2026. The reserve is intended to support dividend payments on its preferred shares and cover interest obligations on outstanding debt.
Wider Market Pressure
Companies with significant exposure to bitcoin and other digital tokens have come under increasing pressure in recent weeks as cryptocurrency prices fluctuated sharply, raising concerns about earnings stability, liquidity management and investor confidence.
