Overview

• Strategy now holds 640,031 BTC worth about $77.4 billion, equal to roughly 3.2% of circulating supply with Bitcoin back near $120,000.
• The company said it no longer expects to owe the corporate alternative minimum tax after Treasury and IRS guidance excluded unrealized digital‑asset gains from the calculation.
• Strategy reported more than $27 billion in unrealized gains on its Bitcoin, and a securities filing outlined plans to exclude such gains and losses from adjusted financial statement income.
• MSTR shares rose about 8% and the company’s market cap increased by over $8 billion following the tax update, while its market‑based NAV rebounded above 1.5 from a September low near 1.195.
• The firm added 11,085 BTC in the past seven weeks, including a 196 BTC buy this week, and it accounts for about 48% of the 1.32 million BTC held by roughly 266 companies.