Microstrategy Incorporated, which was recently renamed in the name of the strategy, is the largest owner of the company in the Bitcoin, which was purchased 528185 BTC at an average price of $ 67,458, at the cost of the total acquisition of 35.63 billion dollars.
As of April 2025, the value of Bitcoin’s possessions is about $ 41.3 billion, with the latest purchase of 22.048 BTC for $ 1.92 billion on March 30 at $ 86,969 per BTC. Bitcoin is now major assets for studying the treasury in the strategy, and it becomes BTC’s return – a major performance indicator that measures Bitcoin per share – 11 % YTD during the first quarter, with a goal of 15 % annually to 2027.
Microstrategy SEC file
SEC files recently indicate the fluctuations that come with the strategic Bitcoin model. During the first quarter of 2025, the company lost an unrealized loss of $ 5.91 billion resulting from the price drop to 77351 dollars, which was compensated with a tax rate of $ 1.69 billion.
The company’s capital structure consists of $ 8.65 billion collected in the form of royal and debt rights since 2020, to finance the continuous acquisitions of bitcoin. The most prominent of $ 2 billion in February 2025 was using zero -zero -transfer notes that are scheduled for 2030. The strategy was also with the script (STRK) shares offered during the fourth quarter of 2024 and raised 584 million dollars.
Despite the fluctuations, the company’s total bitcoin contract remains in a profit with a 14.62 % uniform increase. Its software sector is still behind the knees, with $ 120.7 million in the revenue of the fourth quarter 2024, a 3 % decrease on an annual basis, and a failure to produce positive operational cash flow. The company relies heavily on financing for its processes and acquisitions on Bitcoin, after it divided 10 against 1 in July 2024 to increase the availability of shares.
The risk of liquidation is contained at the present time. With 8.2 billion dollars in unprecedented loans and the lack of guaranteed bitcoin loans, the strategy can pay all its debts by selling 15 % of BTC at the current market prices.
Bitcoin through stocks
Voting CEO Michael Celor guarantees 46.8 % the continuation of the first Bitcoin strategy, and even confirms the price of bitcoin to sale.
It has been indicated that the stock-based money transfer strategy and debt offer-by using stock version and BTC purchase notes. “An infinite money defect.” The strategy purchases an additional Bitcoin by issuing stocks and notes at a premium price, leading to BTC and MSTR arrow to the top.
This model depends on investor faith and bitcoin estimation. Any extended decrease in Bitcoin may test its ability to raise capital or service of his obligations.
Critics refer to central risks, potential tax burdens on $ 18 billion of unrealized gains, and organizational attention from organizations such as SEC. Meanwhile, the company’s share witnessed a 336 % jump in 2024, although it decreased by 55 % of a height of $ 543 in November to $ 250 by February 2025.
In short, Bitcoin’s aggressive approach to strategy continues to provide returns, but with a high risk of exposure to market fluctuations, debt risk, and organizational issues. Its success will depend on the long -term Bitcoin direction and Silor’s commitment to the talisman on the “Never Bell” talisman.
