- Michael Saylor resumes Bitcoin purchases post-pause; Strategy holds 471,107 BTC valued at $45.3 billion.
- Rebranded Strategy reports $640M Q4 loss but adds 218,887 BTC, prioritizing crypto over software revenue.
Michael Saylor, co-founder of Strategy (formerly MicroStrategy), announced plans to resume Bitcoin acquisitions after a one-week hiatus. On February 9, 2025, Saylor posted a chart on social media platform X with the caption:
“Death to the blue lines. Long live the green dots.”
The message, directed at his 4.1 million followers, implied an end to the temporary pause in buying Bitcoin. Tracking data from SaylorTracker confirms the firm currently holds 471,107 BTC, valued at $45.3 billion.
Death to the blue lines. Long live the green dots. pic.twitter.com/SOtFHRoykd
— Michael Saylor⚡️ (@saylor) February 9, 2025
Strategy finalized its rebranding on February 5, 2025, replacing its prior identity with a Bitcoin-centric logo and branding colors. The company emphasized its commitment to Bitcoin in public statements. CEO Phong Le linked the rebrand to broader technological shifts:
“Bitcoin and artificial intelligence are the two most transformative technologies of the twenty-first century.”
Despite reporting a $640 million net loss in Q4 2024, Strategy acquired 218,887 BTC during the same period, worth $20.5 billion. Quarterly revenue from its software division fell 3% year-over-year to $120.7 million. The company attributed the loss to aggressive Bitcoin accumulation, which remains central to its strategy.
To fund acquisitions, Strategy executed multiple capital-raising initiatives. In August 2024, it split Class A and B shares 10-for-1, lowering entry barriers for investors. By December 2024, it had issued 42.3 million Class A shares, raising $15.1 billion.
Additional share sales in early 2025 secured $2.4 billion, with $4.3 billion remaining available for future offerings. CFO Andrew Kang described the capital plan as “firing on all cylinders,” noting $20 billion had been raised toward a $42 billion target.
Strategy also introduced convertible debt instruments
A $3 billion issuance of 0% Convertible Senior Notes in November 2024 will mature in 2029, allowing conversion to stock at $672.40 per share. In January 2025, the firm launched Series A Perpetual Strike Preferred Stock, priced at $80 per share, which generated $563.4 million. These shares offer an 8% annual dividend and a $100 liquidation preference.
In 2024, Strategy reported a 74.3% return on Bitcoin holdings. For 2025, it revised its target downward to 15%, citing a focus on sustainable growth. The firm anticipates regulatory clarity in the U.S., political backing for digital assets, and institutional adoption of Bitcoin ETFs as potential growth drivers.
