Bitcoin focused Strategy Reports Steady Q3 2025 Business Operations

Strategy’s portfolio now maintains an unrealized profit of about $23.3 billion. Due to these developments, the company’s market cap surged to around $83 billion, with an enterprise value reportedly approaching the $100 billion mark.

The company further reports that, as of September 2025, it maintains around $54.3 million in cash and cash equivalents, a considerable increase of $16.2 million since December of last year.

A recent analysis from Phyrex noted that Strategy has about $42 billion in at-the-market equity. As explained, this is a type of mechanism that allows the firm to issue and sell its shares of common stock right into the open market at currently quoted prices. This approach effectively circumvents the more typical fixed price offerings or underwritten transactions.

This may potentially be an opportunity and perhaps a more efficient way to secure funding, which Strategy uses to finance its large BTC buying activities.

Phyrex also said that here’s a now fairly low chance that Strategy could be impacted by short-term factors in the event that Bitcoin price declines by more than 50%. He emphasized that it may also be fairly secure because of its $42 billion ATM capacity, and should be further boosted by steady operating cash flows.

Meanwhile, Michael Saylor, CEO of Stragegy, also stated that even though MSTR stock receiving a “B-” credit rating from the S&P, the company views this as a chance to further expand the addressable market for its security offerings. Additionally, Saylor intends to focus on various new forms of credit instruments.

The company now intends to close out the year with $34 billion in operating income, $24 billion in reported net income, and around $80 million in diluted EPS, all depending on whether its $150,000 BTC forecast actually holds.