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TYSONS CORNER, VA – MicroStrategy Incorporated (NASDAQ:MSTR), known for its substantial Bitcoin holdings and remarkable market performance with a 102% return over the past year, has disclosed its latest financial maneuvers involving further investment in Bitcoin and the sale of company shares. According to InvestingPro data, the company’s stock has shown significant momentum, gaining nearly 49% in the last six months. On Monday, the enterprise analytics and mobility software company announced updates to its at-the-market (ATM) offering programs and Bitcoin acquisition strategy.
From April 7, 2025, to April 13, 2025, MicroStrategy sold approximately 959,712 of its Class A common stock shares, generating $285.7 million in net proceeds. These funds were then used to purchase an additional 3,459 bitcoins at an average price of $82,618 per bitcoin, inclusive of fees and expenses. This purchase increases the company’s total Bitcoin holdings to 531,644, with an aggregate purchase price of $35.92 billion, averaging $67,556 per Bitcoin. InvestingPro analysis reveals the company maintains a current market capitalization of $78.1 billion, though its financial health score indicates some concerns with a current ratio of 0.71.
The ATM program, established on October 30, 2024, with a size of $21 billion, allows for the sale of MicroStrategy’s Class A common stock. Additionally, the company has an ongoing ATM program for its 8.00% Series A perpetual strike preferred stock (NASDAQ: STRK), set up on March 10, 2025, with the same size of $21 billion. As of April 13, 2025, there is still $20.97 billion of STRK shares available for issuance and sale.
MicroStrategy also maintains a "Strategy Dashboard" on its website, serving as a channel for the public distribution of information about the company, including updates on market prices of its securities, Bitcoin purchases and holdings, and key performance indicators. This dashboard is part of the company’s commitment to transparency and compliance with Regulation FD, which aims to ensure all investors have equal access to material company information.
The information provided in the SEC filing is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference in any filing under the Securities Act of 1933, except as explicitly stated in such a filing.
Investors and market watchers closely monitor MicroStrategy’s cryptocurrency strategy as the company continues to invest heavily in Bitcoin, signaling its strong belief in the digital asset’s value proposition. With a beta of 3.47 and current trading levels suggesting overvaluation according to InvestingPro Fair Value metrics, investors seeking deeper insights can access comprehensive analysis and 11 additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including MSTR.
In other recent news, Strategy Inc. reported a substantial $5.91 billion unrealized loss on its bitcoin holdings for the first quarter of 2025, which was partially offset by a $1.69 billion income tax benefit. This loss is attributed to the company’s adoption of new accounting standards requiring the fair value of bitcoin holdings to be reflected in financial statements. Despite the significant unrealized loss, Benchmark has maintained its Buy rating with a $650 price target, indicating continued confidence in the company’s strategy. Meanwhile, TD Cowen also reaffirmed its Buy rating on Strategy, maintaining a price target of $550, highlighting a strategic move involving a new fixed income instrument aimed at accelerating Bitcoin purchases. Conversely, Monness Crespi Hardt downgraded Strategy’s stock to Sell, setting a price target of $220, citing concerns over the company’s ability to sustain its Bitcoin acquisition strategy due to reliance on convertible debt. The downgrade reflects skepticism about the company’s funding capacity and market competition, as other firms adopt similar Bitcoin strategies. These developments come amidst a backdrop of fluctuating Bitcoin prices, which have impacted Strategy’s financial performance and investor sentiment.
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