MSTR's Massive BTC Holdings Lift Prospects: What's the Path Forward?

Key Takeaways MSTR's Q3 results show $3.9B in unrealized Bitcoin gains, driving $2.8B in net income.Strong capital-market access has allowed MSTR to raise nearly $20B YTD to expand its BTC holdings.COIN and BLK intensify pressure as their growing Bitcoin exposure challenges MSTR's strategy.Strategy Inc. (MSTR) has evolved into the world’s largest Bitcoin Treasury Company, and its enormous Bitcoin holdings now drive most of its financial performance. As of Oct. 26, 2025, the company held 640,808 BTC, more th ...