MicroStrategy's Q2 2025 results reveal $21 billion in Bitcoin portfolio expansion and a $4.2 billion preferred stock program to fuel further acquisitions amid tax liabilities.
MicroStrategy expanded its Bitcoin portfolio by $21 billion in Q2 2025, reporting $14.05 billion in unrealized gains. The firm purchased 69,140 BTC for about $7 billion, increasing total holdings to 597,325 BTC valued at $64.4 billion. To support further acquisitions, it launched a $4.2 billion preferred stock offering, despite facing a $4.04 billion deferred tax expense.