Strategy disappoints Wall Street despite a solid performance on Bitcoin

The company led by Michael Saylor announces a solid performance of its Bitcoin investments for the first quarter of 2025, but disappoints Wall Street analysts on its global financial results.

Substantial gains on bitcoin despite mixed financial results

Strategy, the Bitcoin investment company founded by Michael Saylor (formerly Microstrategy), published its results in the first quarter of 2025 on May 1ᵉʳ.

The company has announced an impressive 13.7 % return on its Bitcoin assets since the start of the year, representing a gain of around 61,000 BTC valued at $ 5.8 billion.

Despite this encouraging performance on the cryptos front, the company has not reached the expectations of Wall Street analysts. Strategy recorded a turnover From $ 111.1 million, down 3.6 % compared to the same period of the previous year and approximately 5 % below market forecasts.

Even more worrying, the company posted a net loss of $ 4.2 billion, or 16.49 dollars per diluted share, a figure much higher than the estimates of analysts who were tabling on a loss of only 11 cents per share.

This massive loss is mainly explained by a spectacular increase in operating expenses, which jumped almost 2,000 % to 6 billion dollars, including 5.9 billion losses not made on its Bitcoin investments.

An accumulation strategy that continues despite the volatility

Andrew Kang, a financial director of Strategy, announced even more ambitious objectives for 2025, now targeting a 25 % return on Bitcoin and a total gain of $ 15 billion.

To support this vision, the company plans to issue $ 21 billion in additional shares intended to finance new Bitcoin purchases.

Since the launch of its Bitcoin investment strategy in 2020, Strategy has accumulated more than 550,000 BTC for a total investment of around $ 38 billion, an average purchase price of $ 68,500 per BTC. On May 1, 2025, the value of this reserve was estimated at more than $ 53 billion.

The MSTR action ended the day of May 1ᵉʳ up slightly 0.39% to 381.60 dollars, before retreating slightly to 378.50 dollars in the after-element. The title nevertheless displays an increase of 31.5% since the start of the year, although it remains below its November record which exceeded 470 dollars.

Strategy dominates the ranking of listed companies holding Bitcoin, now attracting more than 13,000 institutions investing in society. According to some analysts, the Saylor accumulation strategy, which suggests a new massive purchase, could propel the BTC up to $ 300,000.