Michael Saylor’s Strategy, formerly known as MicroStrategy, has reported a remarkable year-to-date unrealized Bitcoin gain of $5.8 billion, showcasing a considerable BTC yield of 13.7%.
“We are thrilled to report a strong start to the year with a year-to-date ‘BTC Yield’ of 13.7%, achieving over 90% of our 2025 target in just the first four months of the year,” said Andrew Kang, Chief Financial Officer.
He added, “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%.”
Kang also revealed an increased target for the firm’s ‘BTC Gain’ to a substantial $15 billion.
$MSTR announces BTC Yield of 13.7% and BTC $ Gain of $5.8B year-to-date, doubles capital plan to $42B equity and $42B fixed income to purchase bitcoin, and increases BTC Yield target from 15% to 25% and BTC $ Gain target from $10B to $15B for 2025. https://t.co/LgeMEd6Dr5
— Michael Saylor (@saylor) May 1, 2025
Strategy’s Strategy Pays Off
The firm executed a record stock offering amounting to $21 billion, thereby adding more than 300,000 BTC to its balance sheet while simultaneously witnessing a 50% increase in MSTR share price during the quarter.
However, it wasn’t all positive news. The firm reported a quarterly loss of $5.9 billion from its digital assets, attributed to a quarter-end Bitcoin price of around $82,400. The total revenues stood at $111 million, reflecting a 3.6% decline year-over-year, when compared to the first quarter of 2024.
Despite the 12% decline in Bitcoin price during the first three months of this year, it has since recovered to trade almost 4% higher than its price on January 1.
Amidst these fluctuations, Strategy adopted a new accounting rule in the first quarter, allowing the company to fairly value its unrealized gains or losses on its Bitcoin holdings.
“One fundamental difference now under fair value accounting is that our holdings are marked on the last day of every quarter, not throughout the quarter as before,” said Kang during the earnings call.
“Despite recognizing an unrealized loss in Q1 due to a quarter-end Bitcoin price of $82,445, the current approximate $97,300 Bitcoin price would imply a fair value gain of roughly $8 billion thus far in Q2,” Kang added.
Moreover, Strategy has increased its capital deployment plan to a staggering $84 billion, allocated between equity and fixed income instruments, to further invest in Bitcoin.
The company presently holds 553,555 BTC valued at approximately $54 billion and currently enjoys an unrealized profit of 42% on its investments.
Other Crypto Revenue Reports
Other crypto companies have also been reporting strong quarterly revenues. Kraken, for instance, witnessed a 19% rise in revenue year-on-year, reaching $472 million, with total exchange trading volume increasing by 29% year-over-year and funded accounts climbing by 26% year-over-year, as stated.
Additionally, Bitcoin mining firm Riot Platforms announced $161 million in revenue for the quarter ending March 2025, representing a remarkable year-over-year increase of 103%.
Leading stablecoin issuer Tether reported a quarterly operating profit of $1 billion, along with $5.6 billion in excess reserves.
The insights shared in this post reflect the dynamic shifts and promising trajectories within the cryptocurrency market, particularly through the lens of Strategy’s operations. For more information, the original post can be found here.
