- Strategy reached a $3.9 billion total Bitcoin fair value appreciation during Q3 2025, as it now holds 640,031 BTC in its portfolio.
- The company’s executive chairman, Michael Saylor, held a poll, revealing that the respondents are bullish on Bitcoin hitting $150,000 before the year’s end.
Strategy’s Q3 Report on Bitcoin Holdings
Michael Saylor, Executive Chairman of Strategy (MicroStrategy), revealed on Monday that their company achieved $3.9 billion in total Bitcoin (BTC) fair value appreciation in the third quarter of 2025. Meanwhile, the enterprise business intelligence platform skipped on its BTC buys last week, as momentum heated up for the asset’s rally to a new all-time high of $125,802.54 on Monday afternoon.
In Strategy’s latest Form 8-K declaration to the US Securities and Exchange Commission (SEC), the company disclosed that it still maintains 640,031 BTC in its portfolio after missing its purchase last week. This came when the asset traded around $111,500 to its new historic peak.
On Sunday, Saylor hinted about their company’s decision, claiming, “No new orange dots this week—just a $9 billion reminder of why we HODL.”
Strategy has already spent $47.35 billion in building its Bitcoin treasury, spending an average of $73,983 per BTC. As of September 30, this translates to $3.89 billion in unrealized gain on digital assets. This came against a $1.12 billion associated deferred tax expense.
The figures came as the value of its Bitcoin haul ended Q3 with a $73.21 billion valuation against a $7.43 billion related deferred tax liability. At BTC’s recent ATH, its holdings have already appreciated to roughly $80.518 billion.
Bitcoin to $150,000 Before Year-End
Interestingly, Saylor held a poll on Friday, asking people if Bitcoin could end the year above $150,000. As of writing, 77.2% of the 82,930 votes resolved to “Yes,” indicating an optimistic sentiment among the poll participants.
The poll’s outcome appears to align with the company’s forward-looking assumptions. Strategy’s revised 2025 financial guidance, which was issued earlier in the year, is explicitly based on a hypothetical year-end Bitcoin price of $150,000.
In this case, it would mean a little more than double its present dollar-cost average for Bitcoin. Most importantly, crypto exchange platform MEXC estimated it would elevate the company’s market cap by $18 billion or more. The event could make the company rival some of the world’s largest banks.
While many people are cheering for Strategy, others are skeptical of its playbook. Besides Schiffgold Chair Peter Schiff’s constant warning about a looming BTC crash, some cautioned that the company may be dangerously emulating an investment trick in the 1920s that led to the Great Depression.
Read more: Strategy To Join S&P 500, But An Expert Warns Of Its 100-Year-Old Trick
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