Strategy Bets Bigger on Bitcoin Despite Heavy Q1 Losses
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Strategy, the rebranded version of MicroStrategy, is pushing forward with its Bitcoin accumulation campaign despite disappointing financial results for the first quarter.
While the company reported a staggering $4.2 billion net loss, mainly due to unrealized losses on its crypto holdings, it still boasted a 13.7% year-to-date return on Bitcoin, equivalent to over 61,000 BTC or roughly $5.8 billion in value.
CFO Andrew Kang revealed ambitions to nearly double that performance, setting new internal benchmarks of a 25% Bitcoin yield and a $15 billion gain target. These figures are proprietary metrics the firm uses to measure its crypto exposure, rather than standard financial indicators.
Revenues dipped 3.6% from the previous year to $111.1 million, missing forecasts. The company also plans to issue $21 billion in new stock to bankroll future Bitcoin purchases.
Since adopting its crypto-first strategy in 2020, Strategy has accumulated over 550,000 BTC at an average cost near $68,500 each, totaling nearly $38 billion in expenditure. As of May 1, those holdings are worth about $53 billion.
While Strategy stock (MSTR) is up over 31% in 2025, it remains below its peak from November. Market watchers say large-scale buying from institutions like Strategy may make Bitcoin increasingly inaccessible to everyday investors, with public and institutional holdings now surpassing $200 billion globally.
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