Markets.News
Michael Saylor's Bitcoin-buying firm Strategy, previously known as MicroStrategy, reported an earnings yield of 13.7% on its Bitcoin holdings, equating to a gain of over 61,000 BTC worth around $5.8 billion year-to-date. The company aims to increase its Bitcoin yield target to 25% this year and its Bitcoin gain target to $15 billion. In the first quarter, Strategy missed analyst estimates with revenues at $111.1 million, a decrease of 3.6% from the previous year, and a net loss of $4.2 billion due to a significant unrealized loss on its Bitcoin holdings. To finance future Bitcoin purchases, they plan to offer $21 billion worth of stock. Since they began buying Bitcoin in 2020, Strategy has collected over 550,000 BTC for nearly $38 billion, averaging $68,500 per Bitcoin. Currently, Strategy's treasury is valued at more than $53 billion. The company's stock (MSTR) closed trading on May 1 at $381.60, up 31.5% this year but below its November high of over $470 per share. Strategy holds the most significant Bitcoin reserves among public companies, with public and institutional Bitcoin holdings totaling around $73 billion and $128 billion, respectively.