As Bitcoin continues to show signs of sustained strength, it’s worth zooming in on one of the most highly leveraged plays on BTC’s long-term thesis: MicroStrategy (MSTR), recently rebranded as “Strategy.” In this article, we’ll assess the scale of Strategy’s accumulation, examine its risk/reward profile, and explore whether this equity proxy could be primed for a period of outperformance versus Bitcoin itself. With multiple indicators converging and capital rotation possibly underway, this may be a critical inflection point for investors.

Strategy’s Bitcoin Accumulation Soars to 550,000 BTC

It is clear from our Treasury Company Analytics data that the pace of Bitcoin…

Read more on BitcoinMagazine

Strategy (MSTR) just released its Q1 2025 earnings presentation, and it was more than a routine update—it was a full blueprint for how to scale a corporate Bitcoin treasury with institutional rigor. Strategy (formerly Microstrategy) laid out its evolving capital plans, updated KPIs, and the financial logic behind every lever it pulls.

If you are a CFO, investor, or strategic operator evaluating Bitcoin as a corporate asset, this earnings call offered a clear look at how to think about Bitcoin-backed capital structure, performance measurement, and long-term value creation. Here are the key takeaways:

1. Relentless Bitcoin Accumulation at Scale

Strategy now holds 553,555 BTC—the most…

Read more on BitcoinMagazine

Crypto exchange Kraken posted $472 million in revenue for Q1 2025 showing a strong 19 percent jump from last year driven by increased trading during early market volatility under President Trump’s second term. The platform also reported a 17 percent rise in adjusted EBITDA reaching $187.4 million while trading volume soared by 29 percent compared to Q1 2024.

Kraken expanded aggressively in Q1 launching derivatives trading in the UK and acquiring NinjaTrader to boost U.S. derivatives access. It also partnered with Alpaca to offer equities and ETFs and unveiled Kraken Pay along with a pro-grade API. Monthly trading volume rose 250 percent while funded accounts increased 26 percent year over year.

The company reaffirmed its IPO target for early 2026 and welcomed the SEC’s decision to dismiss its lawsuit with prejudice ending a key regulatory hurdle. Kraken continues to gain market share and strengthen its user base despite broader economic uncertainty.

Report

Strategy reported a $4.2 billion net loss in Q1 missing both revenue and earnings expectations. The loss was driven mainly by unrealized losses of $5.91 billion on its bitcoin holdings. Despite the dip the company spent 7.66 billion to acquire over 80,000 BTC in the quarter.

Revenue dropped to $111.1 million falling short by 5 percent from analyst estimates. Subscription services grew 61% to $37.1 million showing resilience in the company’s core operations. Strategy now holds 553,555 bitcoins worth about $52 billion and has launched a new $21 billion at-the-market offering to continue funding its crypto strategy.

Chairman Michael Saylor remains bullish citing a year-to-date BTC Yield of 13.7 percent and a $5.8 billion BTC Gain. Strategy is raising its 2025 bitcoin profit target to $15 billion reaffirming its goal to securitize bitcoin and expand its holdings regardless of market volatility.

Strategy’s Q1 Report

Today, Strategy delivered its Q1 2025 earnings report, announcing a 13.7% year-to-date “BTC Yield” and a $5.8 billion “BTC $ Gain.” The company now holds 553,555 bitcoins at a total cost of $37.9 billion—an average of $68,459 per coin—making it the undisputed leader in corporate Bitcoin reserves. 

Strategy announces BTC Yield of 13.7% and BTC $ Gain of $5.8B year-to-date, doubles capital plan to $42B equity and $42B fixed income to purchase bitcoin, and increases BTC Yield target from 15% to 25% and BTC $ Gain target from $10B to $15B. $MSTR $STRK $STRF

— Strategy (@Strategy) May 1, 2025

The company also announced it is doubling its capital raising efforts from $42…

Read more on BitcoinMagazine

Blockstream, a leader in Bitcoin-powered financial infrastructure, has shared a new update detailing its growth plans for 2025. Following a successful $210 million raise in October 2024 led by Fulgur Ventures, the company is accelerating its development across infrastructure, software, mining, and institutional investment offerings.

“We are at a pivotal moment for Bitcoin’s growth,” stated Blockstream Co-Founder and CEO Dr. Adam Back. “Spot ETFs have opened the floodgates, institutions are rushing to engage with Bitcoin, and individual interest is accelerating. As we look ahead, we will continue to explore ways to deliver the greatest impact with a focus on building the…

Read more on BitcoinMagazine

Swiss-based Bitcoin startup Relai has announced a strategic partnership with Sygnum Bank to launch Bitcoin-backed loans for high-net-worth individuals (HNWIs), enabling users to access liquidity without selling their Bitcoin, according to a press release sent to Bitcoin Magazine.

The service marks the first of its kind in Switzerland and merges Relai’s intuitive Bitcoin investment platform with Sygnum’s regulated digital banking infrastructure. Through this offering, Relai’s Private clients can unlock the value of their Bitcoin holdings for financial flexibility or investment without sacrificing their long-term crypto positions.

 “At Relai, we’re building the future of…

Read more on BitcoinMagazine