Bitcoin-focused firm MicroStrategy has officially rebranded to Strategy to emphasize its commitment to Bitcoin. Alongside the name change, the company reported a $670.8 million net loss for the fourth quarter of 2024 while increasing its Bitcoin holdings by 218,887 BTC.
In its 5 February 2025 earnings report, Strategy disclosed $120.7 million in revenue, a 3% decline year-over-year, missing analyst expectations by approximately $2 million.
The firm attributed its massive Q4 expenses—which surged nearly 700% to $1.1 billion—to the execution of its “21/21 Plan”, an ambitious initiative aimed at raising $42 billion in capital over three years to fuel its Bitcoin accumulation.
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Strategy Secures $20 Billion In Capital Plan
According to Strategy, $20 billion of this capital plan has already been secured, primarily through senior convertible notes and debt, placing the company ahead of schedule.
CEO Phong Le stated that the firm is “significantly ahead” of its initial projections and is well-positioned to enhance shareholder value, given strong institutional and retail investor support.
With its latest acquisitions, Strategy now holds 471,107 BTC, worth over $45 billion, making it the largest corporate Bitcoin holder in the world.
To better measure its Bitcoin-focused strategy, the company introduced new performance metrics, including BTC Yield, which reflects the percentage change ratio between its Bitcoin holdings and its Assumed Diluted Shares Outstanding.
In 2024, Strategy’s BTC Yield stood at 74.3%, but the company has lowered its target to 15% for 2025. Additionally, it introduced BTC Gain and BTC $ Gain metrics to provide a clearer picture of its financial health.
BTC Gain represents the number of Bitcoin held at the start of a period multiplied by the BTC Yield, while BTC $ Gain calculates the dollar value of that BTC Gain.
The rebrand from MicroStrategy to Strategy marks a significant shift for the company, which was originally founded in 1989 as a business intelligence firm by executive chairman Michael Saylor.
Under Saylor’s leadership, the company pivoted to Bitcoin, making it the centerpiece of its corporate strategy.
To reinforce its commitment, the firm added the Bitcoin (₿) logo next to its new name. Despite the rebrand, Strategy will continue offering business intelligence services alongside its Bitcoin investment initiatives.
Love the rebrand @MicroStrategy . Literal money printer pic.twitter.com/t2ItnDnW2a
— Andrew Himmler (@thedeltabombers) February 6, 2025
Following the announcement, Strategy’s stock (MSTR) fell 3.3% on Feb. 5, closing at $336.70, with an additional 0.72% decline in after-hours trading, according to Google Finance data.
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US States On Verge of Adopting Bitcoin Reserve
Just recently, an Ohio state senator introduced a second bill aimed at creating a Bitcoin reserve fund, positioning the state as a leader in cryptocurrency adoption.
Previously, New Hampshire and North Dakota introduced legislation to establish strategic Bitcoin reserves, marking a growing trend among U.S. states to diversify their treasuries with cryptocurrency.
In December 2024, Texas Representative Giovanni Capriglione introduced the Texas Strategic Bitcoin Reserve Act, which proposes that the state comptroller hold Bitcoin as a reserve asset for at least five years. Pennsylvania took a similar step in November.
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