Recently, Strategy (formerly MicroStrategy) has once again become the focus of the cryptocurrency market. The company increased its holdings of 1,895 Bitcoins from April 28 to May 4. The chairman of the board, Michael Saylor, disclosed that after this increase in holdings, Strategy’s total holdings of Bitcoin have reached 555,450, and the yield rate so far in 2025 has reached 14%.
This move reflects Strategy’s firm belief in the long-term value of Bitcoin. Despite facing a historic loss in the first quarter due to the impact of the new market accounting standards for digital assets, the company still doubled its financing target to 84 billion US dollars. According to its financial report, the adjusted earnings per share in the first quarter was -16.53 US dollars, far lower than analysts’ expectations. However, Chief Financial Officer Andrew Kang pointed out that with the current recovery of Bitcoin prices, the company is expected to achieve approximately 8 billion US dollars in earnings in the second quarter.
To achieve the financing goal, Strategy plans to sell an additional $21 billion worth of common stock and expand the bond purchase program from $14.6 billion to $42 billion at the same time. Since last October, Strategy has made Bitcoin acquisitions almost every week. Within just six months, its Bitcoin holdings have doubled. In addition, the company has raised its Bitcoin yield target for 2025 from a minimum of 15% to 25%, demonstrating an optimistic attitude towards the market.
In terms of macroeconomics, the US job market has demonstrated resilience. The number of non-farm payrolls exceeded expectations, and the unemployment rate remained stable, providing certain support for the stability of the Bitcoin market. Meanwhile, the analysis of QCP Capital pointed out that the continuous inflow of spot Bitcoin ETFs indicates that the demand for Bitcoin from institutional investors remains strong, further consolidating Bitcoin’s position in diversified investment portfolios. Strategy’s share increase is not only a vote of confidence in Bitcoin, but may also attract more institutional investors’ attention, drive the growth of Bitcoin’s market demand, and thereby have a positive impact on its price.
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