American company Strategy, the largest public company holding bitcoin, reported losses to shareholders in the fourth quarter of 2024.
In October and December, the company raised capital, including $15.1 billion from a share sale, $3 billion from convertible bonds, and $563.4 million from a preferred stock offering. All of the funds raised went toward supporting an aggressive bitcoin accumulation strategy.
The company reported its largest ever quarterly increase in the number one cryptocurrency, acquiring 218,887 bitcoins worth $20.5 billion in three months. At the same time, the BTC yield achieved in 2024 significantly exceeded the previously set target of 15%.
The residual value of the Bitcoin reserve was $23.909 billion, and the market value of the assets was $41.789 billion with an average purchase price of $62,503 per Bitcoin. The company expects sustainable long-term income from crypto investments at the level of up to $10 billion in 2025.
Strategy’s total operating revenue for the fourth quarter fell 3% year-over-year to $120.7 million. The company posted a net loss of $670.8 million ($3.03 per diluted share) compared to a year ago, when it posted a net income of $89.1 million in the fourth quarter of 2023. The loss was due to high volatility in Bitcoin and the devaluation of about $1 billion in digital assets.
On the eve of its financial report, MicroStrategy announced a rebranding and name change to Strategy.
