Key Financial Highlights
- BTC Yield: Achieved 74.3% in FY 2024 (2.9% QTD 2025). Revised 2025 target: minimum 15%.
- New KPIs: Introduced "BTC Gain" (140,538 BTC in 2024) and "BTC $ Gain" ($10B annual target for 2025).
- Bitcoin Treasury: Holds 471,107 BTC ($41.789B market value) as of December 31, 2024, with average acquisition cost of $62,503 per BTC.
👉 Explore Strategy’s Bitcoin Treasury Dashboard for real-time updates.
Operational Milestones
Capital Markets Activity
- Q4 2024: Acquired 218,887 BTC ($20.5B) and raised $15.1B via equity offerings.
- Q1 2025: Issued $584M in STRK convertible preferred stock.
- Convertible Notes: $3B 0% notes issued in November 2024; $1.05B 2027 notes redeemed in February 2025.
Financial Performance
- Software Revenue: $120.7M (3% YoY decrease), with subscription services up 48.4%.
- Gross Margin: 71.7% vs. 77.3% in Q4 2023.
- Net Loss: $670.8M ($3.03 per share), driven by $1.006B digital asset impairment charges.
Bitcoin Treasury Strategy
Strategy’s treasury operations leverage equity and debt financing to accumulate Bitcoin, adopting fair value accounting (ASU 2023-08) starting Q1 2025. Key metrics:
| KPI | 2024 Performance | 2025 Target |
|---|---|---|
| BTC Yield | 74.3% | >15% |
| BTC $ Gain | N/A | $10B |
Core Keywords: Bitcoin Treasury, BTC Yield, BTC Gain, Digital Assets, Corporate Bitcoin Strategy
FAQ Section
Q1: How does Strategy calculate BTC Yield?
A: BTC Yield measures the percentage change in the ratio of Bitcoin holdings to Assumed Diluted Shares Outstanding. It excludes debt and other liabilities.
Q2: What is the significance of the $10B BTC $ Gain target?
A: This KPI quantifies shareholder value creation by converting BTC Gain into dollar terms using Bitcoin’s market price at period-end.
Q3: How does fair value accounting impact Strategy’s financials?
A: Effective Q1 2025, Bitcoin holdings are revalued quarterly, with gains/losses reflected in net income ($12.745B retained earnings adjustment as of January 1, 2025).
👉 Learn more about Bitcoin investment strategies in our detailed guide.
Forward-Looking Statements
Statements regarding future BTC Yield targets and capital plans are subject to market risks, Bitcoin price volatility, and financing conditions. Past performance does not guarantee future results.
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3. FAQs address investor concerns about KPIs and accounting changes.