Despite reporting record Q2 2025 earnings, MicroStrategy’s shares plunged 9% amid broader crypto-market weakness triggered by a disappointing US jobs report. The software firm surpassed profit expectations, raising its Bitcoin KPI targets for the second time this year and projecting $34 billion in operating income. Analysts maintained bullish outlooks, with one institution lifting its price target to $700, citing growing institutional adoption and regulatory clarity.
Aggressive Accumulation Pays Off
MicroStrategy purchased an additional 21,021 Bitcoin for $2.46 billion in early August, bringing its total holdings to 628,791 BTC ($72 billion at current prices). The company funded the spree through a $2.52 billion preferred stock offering and retains access to billions more via ATM programs. Trading at just 1.64x net asset value—20% below historical averages—the stock appears undervalued given its Bitcoin reserves. Meanwhile, a Japanese firm mirrored the strategy, acquiring 463 BTC, signaling widening institutional interest.
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