The strategy recently published its report on the results of the first quarter of 2025, showing more than $ 4.2 billion in net loss despite gains on its Bitcoin holdings. Shortly after, the company declared its intention to sell $ 84 billion in new offers.
The shareholders’ responses are mixed, with a certain fear of fundamental principles and their own diluted actions. However, this daring plan has its supporters, with the price of Bitcoin upwards.
The biggest Bitcoin in the strategy
The strategy (formerly Microstrategy) has not shown much interest in modifying its systematic Bitcoin acquisition plan. His latest profits report takes great care to show his yields on this investment: he holds 553,555 BTC, at an average cost of $ 68,459 each and won $ 5.8 billion in Bitcoin.
Despite this, however, the company has lost more than $ 4.2 billion overall. The company’s net losses are mainly due to an unrealized loss of $ 5.9 billion on digital assets, reflecting the volatile nature of cryptocurrency investments.
The unrealized losses of the strategy aroused the concern of the community and the speculation that the company could have to sell its bitcoin. In early April, these losses may have contributed to a break in its BTC purchases.
Initially, the report said that the strategy offered $ 21 billion in new share sales to buy more bitcoin. Shortly after, however, Michael Saylor said that his business set a much more daring goal:
“Strategy … Double the capital plan at $ 42 billion in equity and $ 42 billion with fixed income to buy Bitcoin, and increases the BTC yield target by 15% to 25% and the BTC $ gain target from $ 10 billion to $ 15 billion for 2025,” said Saylor.
The community was in conflict on this announcement. Two months ago, all of the Bitcoin Strategment assets amounted to $ 42 billion, and its largest supply of shares in 2025 was $ 2 billion.
Compared to these figures, 84 billion dollars of new offers seem completely impracticable for several reasons. The main concern is not even to find enough buyers.
In other words, the report on the profits of the Q1 of strategment clearly shows that the company has this privileged actions reserve which it could use to buy bitcoin.
However, the company cannot perform these sales due to its steep losses and its lack of cash flow. Offering instead of these new actions would allow Saylor to win new liquidity, but this would dilute the assets of existing shareholders.
However, some shareholders remain optimistic about the intention of the strategy of buying more bitcoin. In the end, the company remains a key pillar for market confidence in BTC. If its investors start to go to the door, it could have unfavorable implications on the price of the token.
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