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Strategy Inc. Q2 loss, Bitcoin rise, tokenization

Updated 2 times since CLSTR started tracking revisions of this situation.

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2026-07-30 23:52 UTC → 2026-07-31 02:41 UTC · added removed

Strategy Inc. Q2 loss, Bitcoin treasury loss and rise, tokenization

On July 24 2026 Strategy Inc. (formerly MicroStrategy) introduced a “Net Net Bitcoin Per Share” (Net BPS) Share metric, showing that after accounting for $22.3 billion of senior obligations, its 843,775 BTC treasury translated equated to a net reserve of about $35‑36.6 billion and a Net BPS after $22.3 billion of senior debt, or roughly $95 per share. The company also refreshed updated its modified net‑asset‑value (mNAV) framework, fixing the setting an equity‑issuance threshold at of 1.0× and defining an amplification multiplier of about near 1.5×. Five days later, after its Nasdaq‑listed shares fell 39.45% YTD, Strategy later the firm raised the mNAV multiple to 1.07× and about 1.07×, announced a $25 million preferred‑share buyback at $86.52 each. It $86.52, and launched tokenized ordinary shares on the Solana blockchain, Solana, issuing 1‑for‑1 5,301 $MSTR tokens that generated to roughly 30 investors; first‑day on‑chain volume reached about $36 million of first‑day trading volume. On million. For the second quarter ending July 29 2026 the firm Strategy reported an $8.22 billion net loss for Q2, loss, driven by an $8.32 billion unrealized loss as Bitcoin dropped from its October 2025 peak fell to roughly $64,700, leaving the portfolio about $9 billion underwater. around $64,700. Despite the price decline, Strategy increased its decline the Bitcoin balance by roughly holding grew 11% during the quarter to 843,775 BTC, a 25% year‑to‑date increase, with a cost basis of roughly $63.7 billion and bought back a market value of $54.6‑$54.8 billion. The company cut convertible debt by 18% to about $6.7 billion, repurchased $25 million of preferred shares at a discount. It raised $17.06 billion through equity offerings, maintains discount, and maintained a $3.75 billion cash reserve covering more than over two years of preferred‑dividend dividend and interest obligations, obligations. Equity offerings raised $17.06 billion. CEO Phong Le and confirmed Chairman Michael Saylor reaffirmed commitment to expanding the mNAV multiple at 1.07×. Bitcoin reserve and preserving liquidity.

Versions

  1. 2026-07-31 02:41 UTC Strategy Inc. Q2 loss, Bitcoin rise, tokenization
  2. 2026-07-30 23:52 UTC Strategy Inc. Bitcoin treasury loss and tokenization
  3. 2026-07-29 23:43 UTC Strategy Inc. Bitcoin treasury restructuring

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