Record-Breaking Bitcoin Performance
Strategy™ (Nasdaq: MSTR/STRK/STRF), the world’s leading Bitcoin Treasury Company, reported exceptional Q1 2025 results, driven by its aggressive bitcoin accumulation strategy:
- 13.7% BTC Yield year-to-date (YTD), surpassing 90% of its 2025 target.
- 61,497 BTC Gain YTD, valued at **$5.8 billion** based on current bitcoin prices (~$95,000 as of April 28, 2025).
- 553,555 total bitcoins held at an average cost of $68,459 per bitcoin.
👉 Explore how Strategy leverages Bitcoin for shareholder value
Financial and Operational Milestones
Capital Markets Activity:
- Completed a $21 billion ATM equity offering, adding 301,335 BTC to its treasury.
- Increased 2025 targets: BTC Yield to 25% (from 15%) and BTC $ Gain to $15 billion (from $10 billion).
- Adopted fair value accounting for bitcoin, resulting in a $12.7 billion uplift in retained earnings.
Software Business:
- $111.1 million total revenues, with 61.6% growth in Subscription Services.
- 69.4% gross margin, reflecting strong operational efficiency.
Balance Sheet Highlights:
- **$60.3 million cash reserves**, up $22.2 million from Q4 2024.
- 528,185 bitcoins valued at **$43.5 billion** (market price: $82,445 as of March 31, 2025).
Bitcoin Treasury KPIs
| Metric | Q1 2025 | YTD (April 28, 2025) |
|----------------------|---------------|-----------------------|
| BTC Yield | 11.0% | 13.7% |
| BTC Gain | 49,131 BTC | 61,497 BTC |
| **BTC $ Gain** | $4.1 billion | $5.8 billion |
FAQ Section
Q: How does Strategy’s BTC Yield KPI work?
A: It measures the percentage change in bitcoin holdings relative to diluted shares outstanding, reflecting capital deployment efficiency.
Q: What drove the $5.8 billion BTC $ Gain YTD?
A: Bitcoin price appreciation (~$95,000 as of April 28) and strategic treasury expansions.
Q: How does fair value accounting impact financials?
A: Unrealized gains/losses are now recognized in net income, increasing transparency.
👉 Learn more about Bitcoin treasury strategies
Forward-Looking Statements
Strategy’s performance depends on bitcoin market dynamics, regulatory changes, and capital market conditions. Targets are subject to risks outlined in SEC filings.
For investor inquiries:
Shirish Jajodia
Corporate Treasurer
[email protected]