Emre Yumlu 
Strategy‘s fourth-quarter loss came as it added 218,887 Bitcoin in its most aggressive quarter yet.
Strategy Reports $670.8 Million Net Loss in Q4 After Adding 218,887 Bitcoin
Strategy had a record-breaking quarter by adding 218,887 Bitcoin, but reported a $670.8 million net loss for the fourth quarter.
On February 5, Strategy announced $120.7 million in revenue for the fourth quarter, marking a 3% decline compared to the previous year, falling short of analyst estimates by about $2 million.
The company’s Q4 expenses rose nearly 700% year-on-year to $1.1 billion, as it began implementing its “21/21 Plan”. This plan targets raising $42 billion in capital over the next three years, divided between equity and fixed-income securities, to purchase more Bitcoin.
Strategy noted that it has already completed $20 billion of this capital plan and financed the Bitcoin purchases primarily through senior convertible notes and debt.
Strategy’s CEO and President Phong Le stated that the company is “significantly ahead” of its initial timeline and is “well-positioned to enhance shareholder value” by leveraging strong support from both institutional and retail investors.
The company’s Bitcoin holdings now stand at 471,107 Bitcoin, worth over $45 billion, making it the largest Bitcoin holder of any corporation globally.
Strategy Lowers 2025 Target for “BTC Yield” to 15% After 74.3% in 2024
Strategy’s “BTC Yield”, which tracks the percentage change between Bitcoin holdings and Assumed Diluted Shares Outstanding, reached 74.3% in 2024. However, the company has revised its target for 2025 to 15%.
The company also introduced annual metrics, “BTC Gain” and “BTC $ Gain”, to better reflect the health of its balance sheet.
BTC Gain is calculated by multiplying the number of Bitcoin held at the beginning of a period by the BTC Yield for that period, while BTC $ Gain represents the dollar value of the BTC Gain.
On February 5, the company, formerly known as MicroStrategy, rebranded to Strategy. Founded in November 1989 by Michael Saylor as a business intelligence firm, Saylor has been the key figure behind the company’s Bitcoin investment strategy.
With the rebrand, Strategy added the ₿ Bitcoin logo to emphasize its commitment to corporate Bitcoin adoption while continuing to offer business intelligence services.
Strategy (MSTR) fell 3.3% during the February 5 trading day to $336.70, and dropped another 0.72% in after-hours trading, according to Google Finance.
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