Forget MicroStrategy.
The Company Taking a Cut Every Time Bitcoin Traders Panic Is Up 7% This Year and Pays a $5 Dividend Quick Read – MicroStrategy (MSTR) posted a $12.44B net loss in Q4 2025 with quarterly software revenue of just $123M against a $61B market cap, while operating as a leveraged bitcoin proxy that raised $25.3B in capital during 2025 to accumulate digital assets
CME Group (CME) posted Q1 2026 revenue of $1.88B (up 14.5% YoY), net income up 20% to $1.15B, and returned $3.9B in dividends during 2025, with all six asset classes hitting quarterly highs and operating margin of 69.8%. – MicroStrategy’s stock movements are driven by bitcoin holdings and accounting rather than software fundamentals, making CME a structurally superior alternative for investors seeking real earnings, cash returns, and exposure to growing derivatives trading volumes across all asset classes. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and CME Group wasn’t one of them. Get them here FREE. MicroStrategy (NASDAQ:MSTR), now operating as Strategy, is once again the loudest ticker in the room, riding a 55.97% one-month rally and a 12.79% weekly pop on the back of yet another bitcoin treasury announcement.
But here is what you should actually be watching. Strip away the bitcoin accounting and there is barely a company underneath. Q4 2025 produced a $12.44 billion net loss and diluted EPS of -$42.93, driven almost entirely by a $17.44 billion unrealized loss on digital assets under ASU 2023-08.