Despite posting a record $10 billion in profit for the second quarter of 2025, shares of Bitcoin-heavyweight Strategy fell 1.4% in after-hours trading on Thursday.
The dip came even as the firm’s CEO, Phong Le, called it “the most misunderstood and undervalued stock” in the U.S. market.
Strategy, co-founded by Bitcoin advocate Michael Saylor, reported a staggering 7,100% year-on-year increase in operating income, which hit $14 billion for the quarter. The results reflect the company’s second earnings report under fair value accounting, which includes unrealized gains on its Bitcoin holdings — now valued at $73.3 billion for a total of 628,791 BTC.
Still, investor response was lukewarm. Le argued during the earnings call that Strategy’s valuation fails to reflect its performance.
”We’re capitalized on the most innovative technology and asset in the history of mankind, on the other hand, we’re possibly the most misunderstood and undervalued stock in the US and potentially the world,”
he said.
The company also outlined aggressive expansion plans, revealing its intention to raise an additional $4.2 billion via its preferred stock offering — the Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The capital will be used to acquire more Bitcoin as part of Strategy’s ambitious “42/42” plan, aimed at eventually amassing $84 billion worth of the cryptocurrency.
This move builds on a $2.5 billion raise from STRC earlier in July, which funded the purchase of 21,021 BTC — marking the largest U.S. equity raise of 2025 to date. At current prices, the upcoming $4.2 billion raise could net Strategy approximately 36,128 more BTC.
Le also revised Strategy’s full-year crypto performance goals upward. The firm’s “BTC Yield” — a ratio measuring Bitcoin per diluted share — grew 25% in Q2. Its Bitcoin dollar gain surpassed $13 billion, prompting an increase in the company’s year-end targets to a 30% yield and $20 billion in Bitcoin gains.
Beyond its Bitcoin strategy, the company’s software division generated $114 million in revenue during the quarter, covering business intelligence and subscription services.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.
