Microstrategy Inc. (Nasdaq: MSTR), also known as Strategy, reported its fourth-quarter earnings for 2024 on Feb. 5, marking significant milestones in its corporate evolution. The company also announced the launch of its new website, Strategy.com, reflecting its renewed focus on bitcoin and artificial intelligence (AI). In Q4 2024, Microstrategy continued its aggressive bitcoin accumulation while executing a broader capital transformation plan.
The company disclosed that its bitcoin holdings have reached 471,107 BTC. However, as of Dec. 31, 2024, the digital assets’ carrying value was $23.909 billion, consisting of about 447,470 bitcoins with an original cost basis of $27.968 billion. The market value of these holdings was reported at $41.789 billion, reflecting an average purchase price of approximately $62,503 per BTC.
Andrew Kang, Microstrategy’s Chief Financial Officer, stated:
The fourth quarter of 2024 marked our largest ever increase in quarterly bitcoin holdings, culminating in the acquisition of 218,887 bitcoins acquired for $20.5 billion since the end of Q3.
The company attributed this accumulation to its capital raising efforts, including an at-the-market equity offering and the issuance of convertible notes.
Microstrategy highlighted its “BTC Yield” metric, which measures the efficiency of its bitcoin acquisition strategy. The company’s BTC yield was 74.3% for fiscal year 2024 and 2.9% quarter-to-date in 2025. In response to its evolving financial strategy, Strategy revised its BTC Yield target for 2025 to a minimum of 15%.
As part of its corporate overhaul, Microstrategy officially rebranded as “Strategy.” The new identity reflects the company’s shift towards a dual focus on bitcoin and artificial intelligence, which it sees as the most transformative technologies of the 21st century. CEO Phong Le noted that the rebranding aligns with the company’s strategic vision and long-term shareholder value enhancement.
Beyond its bitcoin strategy, the company also reported key financial activities. The company raised an additional $584 million through its inaugural STRK convertible preferred stock offering. It also announced a 10-for-1 stock split, which was completed on Aug. 7, 2024. Furthermore, Microstrategy is set to adopt fair value accounting for its bitcoin holdings beginning in Q1 2025, enhancing financial transparency. With its continued focus on bitcoin accumulation, refined performance metrics, and a strategic rebrand, Strategy remains a dominant force in the corporate bitcoin ecosystem.
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