Against the grain of Wall Street and ignoring billion-dollar losses, Strategy Inc. (MSTR) continues its maximalist crusade towards Bitcoin. Under the unwavering leadership of Michael Saylor, the company not only reported historic losses in the first quarter but also increased its “BTC $ Gain” target to $15 billion by the end of 2025. 🔥💵🔥
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📉 1Q25 Results: Blood in the accounting, faith in the blockchain
The earnings announcement on Thursday disappointed the market — both in revenue and profits:
💥• 🧾 Total revenue: $111.1 million (down -3.6% YoY) — below consensus by 5%
💥• 🔻 Net loss: $4.2 billion ($16.49 per diluted share) — versus an expectation of only $0.11 negative
💥• 💣 Operating expenses: Soared 1,100%, reaching $6 billion
💥• ⚠️ Main reason: Unrealized loss of $5.91 billion on acquired BTC
💥• 💰 Available cash: $60.3 million
Even in the face of the accounting abyss, the company reinforced its conviction. In Saylor's own words on X: ♣️♦️
“🗣️Stay humble. Stack sats.”
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🪙 BTC above all: 553,555 reasons not to back down
Strategy now holds 553,555 bitcoins — with a current market value of $5.2 billion, but purchased at a total cost of $7.66 billion.
💥• 📊 BTC Yield: 13.7% for the year
💥• 💹 Accumulated BTC $ Gain: $5.8 billion
💥• 🎯 New target for 2025: $15 billion (previously $10 billion)
This metric of “BTC $ Gain” represents the number of bitcoins held at the beginning of the period multiplied by the percentage yield of BTC accumulated in the year. For Strategy, this is an unconventional strategic KPI — but absolutely central to its philosophy.
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🏦 New issuance: more capital for more Bitcoin
The company also announced a new issuance of shares and bonds worth $21 billion, something that K33 analysts had already anticipated, given that previous programs are nearing saturation.
💬 “Our business model is to securitize Bitcoin.” — Michael Saylor ♦️♣️
💬 “We will continue buying.” — Michael Saylor ♣️♦️
This serial financing model allows Strategy to turn market capital into BTC without relying on operational cash flow.
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📈 Shares rise despite the loss
Even with the billion-dollar loss, Strategy's shares rise 30% in 2025, currently priced at $381.60.
The market capitalization reached $104 billion.
💥• For fundamental analysts: alarming
💥• For convicted bitcoiners: epic opportunity
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🧠 A Strategy Inc. does not behave like a traditional company — and this is intentional. It positions itself as an institutional vehicle for exposure to Bitcoin, even if that means extreme variations in quarterly results.
If BTC takes off, the company can be praised as visionary.
If it stagnates or falls, it becomes a case study in asymmetric risk.
#空投操作全指南 $BTC #StablecoinPayments #BinanceAlphaAlert
