Strategy's Bitcoin bet swells to $52 billion with latest $180 mn purchase amid Q1 loss

US billionaire Michael Saylor-led Strategy (formerly known as MicroStrategy) acquired 1,895 more Bitcoins during the week of April 28 to May 4, 2025, at an average price of $95,167, bringing its total holdings to 555,450 BTCs valued at around $38.08 billion.

These purchases were funded through its at-the-market (ATM) stock offering programs, under which the company sold its own shares. The company says it sold 353,825 shares of its 2024 common stock shares and 575,392 preferred stock shares, raising $180.3 million.

With the latest purchase of BTCs, Strategy's total market value at the current price has increased to $52.2 billion, which is 2.6% of the total BTC in supply.

"$MSTR (MicroStrategy Incorporated's Class A common stock) has acquired 1,895 BTC for ~$180.3 million at ~$95,167 per bitcoin and has achieved BTC Yield of 14.0% YTD 2025. As of 5/4/2025, we hold 555,450 $BTC acquired for ~$38.08 billion at ~$68,550 per bitcoin," Strategy Chairman Michael Saylor said on X, adding "Stay humble. Stack sats."

Strategy's latest BTC purchase comes following a Q1 2025 net loss from operations widening to $5.921 billion, compared to $203.7 million for the first quarter of 2024. Its net loss attributable to common stockholders was $4.228 billion as compared to $53.1 million for the first quarter of 2024. Notwithstanding the losses, the listed company bought 80,715 BTCs worth $7.66 billion in the said quarter.

The company also announced a new $21 billion at-the-market (ATM) common stock equity offering in Q1, adding 301,335 BTC to its balance sheet while simultaneously achieving a 50% increase in MSTR share price during the same period.

"In Q1, we also broadened our capital base with two of the most successful preferred stock IPOs in a decade. Our capital markets strategy continues to grow our Bitcoin holdings while delivering superior shareholder value. With over 70 public companies worldwide now adopting a Bitcoin treasury standard, we are proud to be at the forefront in pioneering this space,” said Phong Le, President and Chief Executive Officer, Strategy.

The company says it saw a strong start to the year, with a year-to-date “BTC Yield” of 13.7%, achieving over 90% of its 2025 target in just the first four months of the year. "Our year-to-date 'BTC $Gain” of $5.8 billion also meets 58% of our annual target, demonstrating the effectiveness of our Bitcoin strategy. With the strong momentum in the market and our successful execution of our treasury operations thus far this year, we are increasing our 2025 “BTC Yield” target to 25% and our 2025 “BTC $ Gain” target to $15 billion."

In Q1, the company adopted the long-awaited fair value accounting for its Bitcoin holdings, which resulted in a $12.7 billion uplift in the beginning balance of retained earnings. "And despite recognising an unrealised loss in Q1 due to a quarter-end Bitcoin price of $82,445, the current around $97,300 Bitcoin price would imply a fair value gain of roughly $8 billion thus far in Q2,” said Andrew Kang, Chief Financial Officer.

The crypto market is currently seeing a mix of both confidence and scepticism, with BTC struggling to retain the $95,000 level. The latest data shows BTC trading at $94,736, down 1.07% in the past 24 hours, with its market cap at $1.89 trillion. After falling nearly 32% from its all-time high of $109,358 achieved on January 20, 2025, Bitcoin (BTC) found support around $73,500 and began to recover. It formed a candlestick pattern called a "long-legged spinning top," which often signals market indecision. BTC then moved sideways near a downward trendline, eventually breaking above both the trendline and the $90,000 resistance level, and climbed as high as $97,424 during this weekend.