Strategy reported $3.9 billion in Bitcoin value appreciation during Q3 2025. The firm, which focuses on Bitcoin treasury strategies and corporate adoption of digital assets as reserves, disclosed the gains across its Bitcoin-focused investment vehicles.

The appreciation reflects Bitcoin’s continued institutional adoption through corporate treasury strategies. Strategy, a business intelligence company that has pivoted to emphasize Bitcoin as a primary treasury asset, has been among the firms expanding their holdings to capitalize on long-term appreciation trends.

Strategy operates multiple Bitcoin-related investment vehicles under various tickers, including STRC, STRK, STRF, and STRD, representing different approaches to Bitcoin investment strategies and diversified appreciation instruments within the firm’s ecosystem.