Strategy (MSTR), previously known as MicroStrategy, has reported strong financial results that include a $5.8 billion year-to-date gain on its Bitcoin (BTC) holdings.
The software company turned serial BTC acquirer also announced a Bitcoin yield of 13.7% for the year’s calendar first quarter and raised its capital deployment plan to $84 billion for the purpose of buying more of the largest cryptocurrency by market capitalization.
Strategy, which is led by Chairman Michael Saylor, increased its Bitcoin yield target to 25% and Bitcoin gain target to $15 billion. During Q1 of this year, Strategy executed a $21 billion stock offering that enabled the company to add more than 300,000 BTC to its balance sheet as the price fluctuated from an all-time high of just over $109,000 to a low of around $80,000.
Despite the fluctuating price of Bitcoin, Strategy’s cash position grew to $60.3 million in Q1 of this year, up from $38.1 million at the end of 2024. Additionally, Strategy’s revenue in the year’s first quarter totaled $111.1 million, lower than the previous year’s $114.6 million. The company’s software subscription services revenue increased 61% in the quarter, meaning that even with its shifting focus to Bitcoin, the software business remains in decent shape.
That said, Strategy did report a much bigger Q1 loss than expected. The company said it lost $16.53 per share due to a Bitcoin revaluation. That was much worse than a loss of $0.11 per share expected on Wall Street. MSTR stock has risen 32% so far this year.