Strategy, formerly MicroStrategy, reported a net loss of $8.22 billion in Q2, or $24.45 per share, swinging sharply from a $10.02 billion profit a year earlier. The company sold approximately 3,600 BTC for about $216 million between late June and early July, realizing an estimated $55 million loss. With 843,775 BTC in holdings and an average cost basis of about $75,500 per BTC, bitcoin is currently trading between $63,000 and $65,000, representing a 15% to 17% discount to that level. Strategy recorded a full valuation allowance against its deferred tax assets, while analysts are assessing the impact of this pressure on the largest corporate bitcoin holder heading into Q3.
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