Strategy (MSTR), the company formerly known as MicroStrategy, has registered its most successful month since November 2024, experiencing a remarkable 32% increase in April. The stock closed at $380.11 at the end of the month, rising from a starting price of $288.
$MSTR began the month at $288 and ended at $380, for a +32% return in April, its biggest monthly gain since November 2024. pic.twitter.com/LQ9kYDaA6C
— Mark Harvey (@thepowerfulHRV) April 30, 2025
The impressive performance in April can be attributed to a surge in investor confidence surrounding Bitcoin, coinciding with speculative excitement about a potential “huge capital raise” hinted at by Apollo Sat founder Thomas Fahrer. In a post on April 30 via X, Fahrer asserted that “$100B is in play” ahead of the impending earnings announcement on May 1.
Saylor: We’re going to raise 42 Billion, then double it and double it and double it…
Yes, MSTR will announce a huge capital raise in their earnings call tomorrow. $100B is in play pic.twitter.com/qfi5jdjIrv
— Thomas Fahrer (@thomas_fahrer) May 1, 2025
As Bitcoin (BTC) hovers around the $94,000 mark, approaching its all-time high of $100,000, which was recorded in December following Trump’s re-election, Strategy’s Bitcoin-heavy treasury has again attracted significant bullish speculation, as well as scrutiny. The company currently holds 553,555 BTC, valued at approximately $52.57 billion, purchased at an average price of $68,459, according to tracking data from Saylor Tracker.
The upcoming earnings report is expected to reflect a modest increase in revenue, with analysts predicting $116.6 million for Q1, representing a 1% rise year-on-year but a 3.4% decrease from the $120.7 million reported in Q4 2024.
In the fourth quarter, Strategy recorded a net loss of $670.8 million, largely due to the unpredictable nature of Bitcoin valuations and continued cryptocurrency accumulation.
Aggressive Accumulation and Capital Strategy Raise Criticism
At the heart of Strategy’s recent stock performance lies a consistent and assertive acquisition model that combines software revenue with capital market strategies. In April alone, the company acquired over $1.9 billion worth of Bitcoin through two major transactions.
On April 28, Strategy revealed a $1.42 billion acquisition of 15,355 BTC, averaging $92,737 per coin.
Michael Saylor’s Strategy acquired a whopping $1.42 Billion worth of Bitcoin, a new filing with the SEC shows.#MichaelSaylor #Strategyhttps://t.co/xyNqYDy6gl
— Finance Newso.com (@Finance Newso) April 28, 2025
This purchase was preceded by a $555.8 million acquisition disclosed on April 25, involving 6,556 BTC at an average price of $84,785 each. Together, these transactions have bolstered Strategy’s holdings by over 21,900 BTC.
Funding for these acquisitions was sourced through two at-the-market (ATM) equity programs, which allow the company to issue new shares in real-time to generate capital. Strategy has also engaged in a sales agreement to issue its 8% Series A perpetual preferred stock, aimed at raising funds for “general corporate purposes,” which includes future Bitcoin purchases.
These bold moves have prompted analysts to question the long-term viability of the firm’s balance sheet. With debt totaling $8 billion and annual obligations of $35 million in interest payments and $150 million in dividends, concerns are growing. The company’s software division is reportedly no longer generating sufficient cash to cover these obligations. Recent legal filings have indicated that Strategy may have to sell Bitcoin at a loss to fulfill its financial commitments.
@saylor’s @Strategy may sell Bitcoin at a loss to cover debt, sparking questions about its impact on BTC price and the firm’s bold crypto gamble.#Bitcoin #Cryptohttps://t.co/4fByjlzzmK
— Finance Newso.com (@Finance Newso) April 9, 2025
Despite these concerns, Strategy has upheld a buy-and-hold strategy, briefly halting Bitcoin acquisitions only from March 31 to April 6 amid geopolitical and economic uncertainties.
Metaplanet Expands U.S. Presence Amid Global Bitcoin Strategy
As Strategy maintains its leadership in the institutional Bitcoin narrative within the U.S., Japanese investment firm Metaplanet is also advancing its initiatives. The firm has announced the establishment of a wholly-owned subsidiary, Metaplanet Treasury Corp., in Florida, with a capital commitment of up to $250 million earmarked for its Bitcoin treasury strategy.
Japanese investment giant Metaplanet has picked Florida to establish its US subsidiary, due to the state’s rapidly emerging Bitcoin innovation.#MetaplanetSubsidiary #FloridaBitcoin #BitcoinInnovationhttps://t.co/lUXlb9rPLM
— Finance Newso.com (@Finance Newso) May 1, 2025
CEO Simon Gerovich confirmed the subsidiary’s formation via X, highlighting Florida’s emergence as a key player in Bitcoin innovation. Metaplanet’s strategy reflects the growing alignment of crypto-friendly legislation and institutional investment.
The state is also working on legislation to create a state-level Bitcoin reserve, which could bolster Florida’s position as a destination for crypto-native businesses. Metaplanet aims to accumulate 10,000 BTC by the end of 2025, and with significant progress already made, the new Florida subsidiary is set to enhance liquidity access for institutional stakeholders through around-the-clock operations across various time zones.
As Bitcoin approaches historical highs and the regulatory landscape for cryptocurrency shifts favorably, Strategy’s 32% rally in April could signal the onset of a potentially transformative and volatile quarter ahead.
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