Stocks

In 2025, Strategy (formerly MicroStrategy) bought about 225,027 BTC, lifting its treasury to roughly 672,497 BTC. The firm ended the year with a $48.3 billion market cap against a $59.2 billion valuation for its Bitcoin holdings, while short interest reached 29.14 million shares on Dec. 15. Post-halving issuance was estimated at 164,000 coins.

Metaplanet, the Tokyo-listed Bitcoin-focused firm, disclosed that it bought 4,279 BTC in Q4 2025 for $451.06 million, raising its total holdings to 35,102 BTC at a cumulative cost of about $3.78 billion. With BTC trading below $90,000, the position is sitting on an unrealized loss of roughly $520 million, while the company’s stock has dropped sharply and its mNAV multiple has compressed toward parity. Metaplanet continues to pursue an income-generating derivatives strategy and fresh equity financing to fund further accumulation, mirroring the steady buying approach of Strategy and other corporate holders in 2025.

On December 30, 2025, Robinhood's CIO Stephanie Guild told CNBC the firm's base case for the S&P 500 is around 7,500 by this time next year, implying roughly 8.5–8.7%. She cited risks including a possible government shutdown, interest rates, and the labor market, and expects broader sector participation beyond large-cap tech.

Strategy's MSTR fell 2.15% to a 2025 low of $155.32 on 29 December, extending a 71% decline from its 2024 peak of $543 and returning to the $100–$180 range. Bearish factors include potential MSCI index removal and ongoing stock-funded Bitcoin purchases, while recent price targets of $465–$485 from analysts suggest lingering optimism.

After debuting on the Tokyo Stock Exchange in December, Kioxia delivered about 540% year-to-date gains in 2025, topping all MSCI World constituents. The chipmaker's market value is roughly ¥5.7 trillion ($36 billion), supported by AI-driven NAND demand and customers such as Apple and Microsoft, according to its November quarterly filing.

On Tuesday, six Chinese companies began trading in Hong Kong after raising about HK$6.99 billion, or $900 million, through IPOs, with most opening above their offer prices. Hong Kong's equity market raised around $75 billion in 2025, the strongest since 2021. Three additional offerings totaling over HK$9 billion are slated to debut on January 8, 2026.

On December 30, 2025, value investor Christopher Bloomstran criticized MicroStrategy's latest Bitcoin funding approach, arguing on X that the company has shifted from a once "smart" arbitrage to what he calls an "idiotic" strategy. He claims issuing new shares when MicroStrategy's market cap is about 82% of the value of its Bitcoin holdings now dilutes shareholders as the firm continues large BTC purchases, including a recent 1,229 BTC buy at roughly $88,568 per coin.

UK consumer card spending fell 0.2% in 2025, marking the first annual drop since 2020 as households reacted to higher living costs and weak income growth. While discretionary outlays such as clothing and entertainment rose only modestly, spending on health, beauty, and pharmacy items jumped 9.5%, showing a shift toward smaller indulgences despite overall caution.

Between 22 and 28 December, Strategy, formerly known as MicroStrategy, acquired 1,129 Bitcoin for about $108.8 million, lifting its total BTC stash to 672,497 coins valued at roughly $50.44 billion. Over the same week, Bitmine Immersion increased its Ethereum holdings by 44,463 ETH to 4,110,525 ETH, while BTC and ETH prices remained under pressure and both firms' stocks continued to trade far below their all-time highs.

As of December 30, 2025, tokenized stocks have reached a combined market capitalization of $1.2 billion, with the strongest gains in September and December. Institutional activity accelerated via launches from Backed Finance and Securitize, while Nasdaq filed with the SEC to list tokenized shares. Observers liken the moment to early stablecoin and DeFi phases.