Billionaire Michael Saylor 's Bitcoin (BTC) treasury company, Strategy (Nasdaq: MSTR), continued to acquire the leading cryptocurrency as we journeyed from 2025 to 2026.
Strategy, earlier known as MicroStrategy, acquired 1,286 BTC during Dec. 29, 2025-Jan. 4, 2026, the company disclosed in its Form 8-K filing with the Securities and Exchange Commission (SEC) on Jan. 5.
Related: S&P gives low rating to Michael Saylor's Strategy
The company used the proceeds from the sale of 1,990,911 common MSTR shares to acquire Bitcoin during the last week.
For the year ended Dec. 31, 2025, Strategy had $5.40 billion in unrealized loss on digital assets and $1.55 billion in deferred tax benefit.
For the last quarter of 2025, the company had $17.44 billion in unrealized loss on digital assets and $5.01 billion in deferred tax benefit.
Strategy had a deferred tax liability worth $2.42 billion as of Dec. 31, 2025.
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Strategy stock loses 50% in a year
Strategy now holds 673,783 Bitcoin, valued at more than $62 billion at the time of writing. The company continues to be the world's largest corporate holder of Bitcoin.
Since its stock performance is directly tied to that of Bitcoin, any volatility in the latter's price action affects Strategy's performance on the charts.
As BTC continued to rally and hit new record highs last year following Donald Trump's presidential win in the U.S. and Wall Street adoption, the MSTR stock mostly mirrored the asset's trajectory.
But following BTC's sharp decline in October, even the MSTR stock began to show cracks. The stock has lost more than 50% of its value within a year, as per Yahoo Finance.
Strategy's Bitcoin treasury risks index exclusion
Strategy's rising balance-sheet risk , owing to its Bitcoin holdings, could trigger its exclusion from several major equity benchmarks, including the MSCI USA Index.
MSCI is considering excluding public companies with more than 50% of the total assets on their balance sheets allocated to digital assets from the said index. Other indices may also follow suit.
The market was concerned that Strategy could be forced to sell Bitcoin to meet future costs, such as mounting dividends and interest payments. To address such concerns, the company launched a cash reserve on Dec. 1.
As per the latest SEC filing, Strategy's USD reserve stood at $2.25 billion as of Jan. 4, 2026.
At press time, Bitcoin was trading at $93,184.23, up 2% in the last 24 hours.
The MSTR stock was exchanging hands at $166.33 at the time of writing, up 5.83% in a day.
Related: The only thing better than Bitcoin is...MSTR?
This story was originally published by TheStreet on Jan 5, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
