Strategy (MSTR), formerly known as MicroStrategy, has reported first-quarter financial results that include a $5.80 billion U.S. gain on its Bitcoin (BTC) holdings.
The software company turned serial Bitcoin acquirer also announced a yield on its crypto stockpile of 13.7% for the year’s calendar first quarter.
Management raised their capital deployment plan to $84 billion U.S. for the purpose of buying more Bitcoin in coming months.
Strategy, which is led by Chairman Michael Saylor, increased its Bitcoin yield target to 25% and Bitcoin gain target to $15 billion U.S.
During Q1 of this year, Strategy executed a $21 billion U.S. stock offering that enabled it to add more than 300,000 Bitcoin to its balance sheet as the price fluctuated from an all-time high of just over $109,000 U.S. in January to a low of around $80,000 U.S. in March.
Despite the fluctuating price, Strategy’s cash position grew to $60.3 million U.S. in Q1 of this year, up from $38.1 million U.S. at the end of 2024.
The company’s revenue in the year’s first quarter totaled $111.1 million U.S., lower than the previous year’s $114.6 million U.S.
The company’s software subscription revenue increased 61% in the quarter, meaning that even with its shift to Bitcoin, the software business remains healthy.
Still, Strategy reported a much bigger Q1 loss than expected on Wall Street. The company said that it lost $16.53 U.S. per share due to a Bitcoin revaluation.
That was much worse than a loss of $0.11 U.S. per share expected among analysts.
Strategy’s stock has risen 32% year-to-date to trade at $381.60 U.S. per share.
