Nasdaq-listed enterprise software firm Strategy, formerly known as MicroStrategy, has reported a fourth-quarter net loss of $3.03 per share, compared with income of $0.50 per share in the same period a year earlier.

Despite growing optimism surrounding digital assets and a more accommodating regulatory environment, over 70% of respondents to a JPMorgan e-trading survey for institutional traders revealed they were not planning to trade crypto this year.

A proposal by the Czech central bank governor to allocate a portion of the nation’s reserves into bitcoin has thrust the central European country into the global spotlight and led to discussions surrounding its monetary policy.

Top stories in the Crypto Roundup today:

• Strategy Reports $1 Billion Write-Down on Bitcoin Holdings
• Majority of Institutional Traders Remain Hesitant to Enter Crypto Market: JPMorgan Survey
• Czech National Bank’s Bold Bitcoin Proposal Sparks Global Debate on Monetary Policy

Strategy Reports $1 Billion Write-Down on Bitcoin Holdings

Nasdaq-listed enterprise software firm Strategy, formerly known as MicroStrategy, has reported a fourth-quarter net loss of $3.03 per share, compared with income of $0.50 per share in the same period a year earlier.

The shortfall stemmed from an impairment charge the company took related to its substantial 471,107 bitcoin holdings, which are worth more than $45 billion at the time of writing.

Despite its substantial bitcoin holdings, accounting rules treating cryptocurrencies as intangible assets that can be written down in value, but not up led to the billion dollar write-down. 

Strategy is set to adopt a new accounting rule allowing firms holding cryptocurrencies to show the fair value of their holdings on their balance sheets. 

The company is looking to see a dollar gain of $10 billion on its bitcoin holdings this year. The report follows a tumultuous week for the company, marked by an expansion of its preferred stock offering and a recent rebrand where it dropped the “Micro” from its name.

Majority of Institutional Traders Remain Hesitant to Enter Crypto Market: JPMorgan Survey

Despite growing optimism surrounding digital assets and a more accommodating regulatory environment, over 70% of respondents to a JPMorgan e-trading survey for institutional traders revealed they were not planning to trade crypto this year.

The Wall Street giant’s January survey of institutional players found that the “majority of traders have no plans to trade crypto or digital coins.” The figure, however, dropped from 78% in 2024 to 71% in 2025.

JPMorgan’s survey also found that 16% of respondents were planning on trading cryptocurrencies this year, while 13% responded they were already engaged in the practice. Both figures grew when compared to 2024.

The survey of 4,200 JPMorgan clients across 60 global locations was conducted from Jan. 9 to Jan. 23 and revealed broader market concerns, including inflation and tariffs that were seen as having the biggest impact on markets this year.

Czech National Bank’s Bold Bitcoin Proposal Sparks Global Debate on Monetary Policy

A proposal by the Czech central bank governor to allocate a portion of the nation’s reserves into bitcoin has thrust the central European country into the global spotlight and led to discussions surrounding its monetary policy.

Ales Michl, who took the helm of the Czech National Bank two and a half years ago, saw widespread support within the cryptocurrency industry over the proposal, yet financial gatekeepers had a markedly cooler reaction. The European Central Bank’s President Christine Lagarde diplomatically dismissed the idea.

Michl, a former commercial banking strategist with a background in algorithmic trading, has recast pushback as a debate on how central banks should adapt to the rapidly evolving technological landscape.

“The world, the economy and people’s behavior are constantly changing and I think we should be prepared to reflect that in how we think and what we do. Part of that is having discussions about issues that may seem outside the conventional idea of the role of central banks.”

The Euro area’s perspective, per Lagarde, is that “reserves have to be liquid, that reserves have to be secure, that they have to be safe, that they should not be plagued by the suspicion of money laundering or other criminal activities.”

While Michl initially suggested investing as much as 5% of the central bank’s reserves in BTC, the governor is set to accept the outcome of a central bank analysis on it, which could take months to conduct. 

Even if it does clear a path for cryptocurrency investment, Michl will reportedly allocate less than a percentage point of the reserves into BTC.

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