Bitcoin-focused firm Strategy has just released its financial report for the second quarter of 2025, showcasing a remarkable performance with a net income of $10 billion. This achievement marks Strategy’s strongest financial quarter to date, outperforming major financial institutions like Goldman Sachs and Bank of America.
According to Bitwise CIO Matt Hougan, Strategy’s profits were nearly three times higher than Goldman Sachs’ $3.7 billion earnings and surpassed Bank of America’s $6.8 billion despite having a smaller and more specialized business model. Bitwise Senior Investment Strategist Juan Leon described Strategy’s earnings as a significant milestone in profitability for the company, noting that it was the strongest quarterly performance in the firm’s history.
Strategy’s success can be attributed to its Bitcoin treasury, which played a crucial role in driving record profits. By the end of the quarter, Strategy had accumulated 628,791 BTC at a total cost of $46.07 billion. The company reported a 25% year-to-date return and over $13.2 billion in unrealized gains. Building on this success, Strategy has raised its internal targets, aiming for a 30% annual BTC yield and $20 billion in unrealized Bitcoin gains by the end of the year.
In a strategic move to further capitalize on its success, Strategy has filed for a $4.2 billion offering of its new credit instrument, STRC stock. The firm plans to gradually sell these shares through an at-the-market (ATM) program, taking into account market price and trading volume at each sale. The proceeds from the offering will be used to acquire more Bitcoin, cover operational expenses, and potentially pay dividends on other preferred shares.
STRC stock, a short-term, high-yield preferred stock introduced in late July, offers investors a $100 liquidation preference and monthly dividends at an initial annualized rate of 9.00%. Strategy has the flexibility to adjust the dividend rate based on Bitcoin’s price, leverage ratio, or other BTC-linked metrics, ensuring yield stability while maintaining the stock’s market price close to its par value.
Strategy’s CEO, Michael Saylor, emphasized that the introduction of STRC stock strengthens the company’s capital market operations, providing investors with both yield and exposure to Bitcoin’s potential upside. This innovative approach to financing reflects Strategy’s commitment to leveraging its Bitcoin holdings for continued growth and success in the digital asset market.