The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin treasury company Strategy and its co-founder, Michael Saylor, are facing a class action lawsuit from investors.
The company's bitcoin holdings have now reached around 2.7% of the total 21 million BTC supply — worth over $59 billion.
KULR recognized its first bitcoin mining revenue of $250,000 during the quarter as it explores further blockchain-related opportunities.
Bitcoin and MSTR both flashed a bullish signal, indicating a potential major uptrend.
Investor Jim Chanos says Strategy overvalued and is backing bitcoin directly in a long-short strategy
A growing chorus of Bitcoin commentators is raising the alarm over the recent boom in publicly traded companies adopting Bitcoin-centric treasury strategies. The debate ignited this week after pseudonymous investor Stack Hodler (@stackhodler) described the trend as a speculative mania disguised in corporate form, writing on X that “Bitcoin treasury companies are this cycle’s shitcoins.” His argument: these companies are “creating shares out of thin air to sell to people hoping to outperform Bitcoin,” with little more than exposure to BTC as their core product. “It’s just TradFi shitcoinery,” he warned. “And many will get rekt.” Stack Hodler allowed that these companies are currently soaking up speculative liquidity that might otherwise chase illiquid altcoins. “But the bad news is that many of these businesses will inevitably be forced to dump their stacks one day,” he added, pointing to the moment when short-term investors realize that holding equity in a Bitcoin proxy may be less efficient than self-custody. “Fiat shenanigans with the potential to unwind” was how he framed the model. In contrast, he celebrated companies that generate real economic value and use their profits to accumulate Bitcoin—something he views as a sustainable force in Bitcoin’s monetization arc. Related Reading: Bitcoin Faces Key Resistance After 10% Weekly Rally – Confirmation Or Rejection Next? Bitcoin podcaster Stephan Livera entered the conversation by referencing MicroStrategy’s Q1 2025 earnings call, where Michael Saylor laid out the rationale for the company’s persistent premium to net asset value. “Saylor outlined some reasons for MSTR being at a multiple to NAV,” Livera said. While acknowledging the cyclical nature of that premium—comparing it to the GBTC discount blowout in the previous cycle—he argued there’s a broader structural context. “Bitcoin is a $2 trillion asset in a world of $1,000 trillion in assets,” Livera noted, emphasizing that many large capital allocators remain unable to directly hold Bitcoin due to regulatory, tax, or mandate-related restrictions. “There’s a case for some treasury companies to exist long-term, so long as they’re managed prudently.” The Bitcoin Treasury Copy-Cat Surge But Stack Hodler wasn’t referring to MicroStrategy. “I’m talking about the copycats that are popping up at an accelerating pace,” he responded. “They’re trying to draft off MSTR’s success, similar to how shitcoins drafted off of BTC’s success.” He said he doesn’t deny that regulatory arbitrage might support a few of these firms in the short to medium term, but questioned the viability of companies whose primary activity appears to be printing shares and using the proceeds to buy Bitcoin. “I love seeing companies with real profitable businesses stack BTC. Fiat engineering seems shakier to me long-term.” Scott Melker, host of “The Wolf of All Streets” podcast, added to the discussion: “I hate to even think this, because I’m a huge fan—but Bitcoin treasury companies raising debt to buy Bitcoin could be the next bubble.” Market structure analyst Dave Weisberger agreed that risk is present, but took a more measured stance. “Sure. But bubbles have to inflate before we worry about them… spoiler, Bitcoin is NOT near bubble territory.” Technical analyst FiboSwanny, a 25-year market veteran, focused on leverage and market structure. “If there’s a bubble forming, it’s likely in the financial instruments and leverage around Bitcoin,” he said, citing debt-funded treasury purchases, ETFs, and derivatives. “Not in actual Bitcoin itself.” Lark Davis took a more bearish tone: “This is our GBTC leverage this cycle that will have a horrific unwind with devastating consequences later. Especially the companies buying altcoins.” Related Reading: Sovereigns Are Buying Billions Of Bitcoin, Says Anthony Scaramucci Swan CEO Cory Klippsten didn’t mince words either. “Already jumped the shark,” he wrote. “Have been predicting it for a year, but it’s inevitable now.” The current landscape includes dozens of public companies with direct Bitcoin holdings, some of which are drawing intense retail speculation. MicroStrategy remains the dominant force, with well over half a million Bitcoin on its books. Other names include Metaplanet in Japan, Semler Scientific, KULR Technology, and various new entrants who have reoriented their corporate missions entirely around Bitcoin accumulation. Many of these firms are now trading at multi-billion-dollar valuations, far above what their underlying business models would suggest. But the sustainability of the model remains in question. Most of these companies rely on issuing new equity at inflated valuations to finance further Bitcoin purchases, creating a reflexive cycle where rising BTC prices inflate share prices, which in turn enable more buying. That dynamic works beautifully in a bull market but can reverse quickly in a downturn. The debate over how institutional exposure is structured becomes increasingly relevant. Stack Hodler framed it simply: “Bitcoin is and always will be the best risk-return asset to hold in this space. Part of successfully holding Bitcoin is being able to resist all the ‘better Bitcoins’ that inevitably arise during your journey.” Whether the new class of treasury companies represents innovation, opportunism, or simply a bubble waiting to burst, remains one of the key questions of this cycle. At press time, BTC traded at $103,709. Featured image created with DALL.E, chart from TradingView.com
Upexi has a $100 million investment commitment anchored by GSR to buy and stake as many SOL tokens as possible.
The Nasdaq-listed firm has accumulated 595,988 in Solana's SOL, worth nearly $105 million, in the month since its crypto pivot.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Nakamoto Holdings and KindlyMD have entered into a merger agreement to start a bitcoin treasury strategy, with David Bailey as CEO.
The company's holdings now total around 2.7% of the total 21 million bitcoin supply — worth over $59 billion.
Strive Asset Management has agreed to merge with Asset Entities Inc., setting the stage for a bold transition into a Bitcoin-focused treasury company. According to a May 7 statement, the deal will see the combined firm operate under the Strive name and continue trading on NASDAQ. The firm said the move would create the first […]
The post Vivek Ramaswamy’s Strive makes bold move as first NASDAQ-listed asset manager with a Bitcoin treasury appeared first on CryptoSlate.
A growing number of public firms may begin purchasing Bitcoin in substantial quantities in the next five years, with more than $300 billion potentially entering the cryptocurrency by 2030. Related Reading: TRUMP Token Bloodbath: Whales Lose Big In $8.58 Million Sell-Off That’s what researchers at Bernstein, an asset manager that monitors corporate appetite for Bitcoin, say in a new report. Their estimates hinge on the assumption that additional firms will follow in the footsteps of Strategy’s tactics of retaining Bitcoin as a central component of their balance sheets. Strategy Sets The Tone MicroStrategy, now doing business under the name Strategy, has already made waves with its aggressive Bitcoin buys. The firm now sits with 555,450 BTC. That inventory has cost them approximately $38 billion, with an average of $68,550 per coin. Recently, they purchased another 1,895 BTC for $180 million. Bernstein projects that corporate treasury investments in #Bitcoin could reach $330 billion by 2029, with Strategy (formerly MicroStrategy) potentially contributing $124 billion of that total. This forecast underscores the growing institutional interest in Bitcoin as a treasury… — Naeem Aslam (@NaeemAslam23) May 5, 2025 Bernstein believes that this strategy gains traction. Its report states companies with sluggish growth and plenty of excess cash could be attracted to Bitcoin as an alternative destination to invest their cash. Between 2025 and 2030, listed firms alone could steer some $205 billion toward Bitcoin. Adding to that is another $124 billion which could be made by companies following Strategy’s systematic blueprint to investment in the top crypto. Treasuries Could Fuel Demand In Bernstein’s words, some movement, no matter how little, would lead to a great impact. This gigantic flow would amount to $190 billion if just 20% of related firms were to transfer 25% of their treasury balance into an investment in Bitcoin. These firms have very low growth and few compelling investment opportunities. That could make Bitcoin simply look good for capital investment for them. Currently, public companies already possess approximately 720,898 BTC, which is valued at almost $68 billion. That’s a significant increase from the 1.3% of the total supply of Bitcoin that they had in late 2023. Today, it’s 3.4%. Private companies are not far behind, possessing approximately 398,323 BTC, valued at a little over $37 billion. Related Reading: BNB Bulls Target $644 As Classic Chart Formation Emerges Increasing Interest And Limited Supply The surge in corporate Bitcoin ownership is occurring alongside evolving regulation and accounting practices. These changes might be facilitating more ease of access for companies to look into Bitcoin with less bureaucratic red tape. Additionally, with fewer coins on the market and easier access to capital, businesses might become the force behind increased demand—and possibly even prices. Bernstein cites Strategy’s work in this revolution. The company has developed systems and tools that enable it to continue purchasing Bitcoin, even through challenging market periods. Not every company can follow suit, but the framework exists for others to attempt it. Featured image from Gemini Imagen, chart from TradingView
In a recent filing with the US Securities and Exchange Commission (SEC), Strategy (formerly Microstrategy), disclosed the purchase of an additional 6,556 Bitcoin (BTC) at an average price of $95,167 per coin between April 28 and May 4. This latest acquisition brings the company’s total Bitcoin holdings to 555,450 BTC, valued at approximately $38.08 billion, with an average purchase price of $68,550 per BTC. Strategy Announces New $21 Billion ATM Offering The acquisition was financed through a strategic combination of common and preferred stock sales. Specifically, Strategy raised $128.5 million through its common stock at-the-market (ATM) program and an additional $51.8 million from the sale of STRK preferred shares. Notably, this latest transaction exhausts the company’s previous $21 billion ATM offering that was initiated last year. Related Reading: BNB Bulls Target $644 As Classic Chart Formation Emerges Michael Saylor, co-founder of Strategy and a well-known advocate for BTC, also shared on social media that the company has achieved a year-to-date Bitcoin yield of 14.0% as of May 4, 2025. He emphasized that the firm currently holds 555,450 BTC, acquired for approximately $38.08 billion. In a bid to further bolster its BTC accumulation strategy, Strategy announced last week plans to double its capital raising capacity. This includes introducing a new $21 billion ATM offering and expanding its debt purchase program to $42 billion. These initiatives indicate the company’s commitment to enhancing its BTC-heavy balance sheet, even in light of recent financial challenges, including five consecutive quarterly net losses. Institutional Demand For Bitcoin Surges During its latest earnings call, Strategy unveiled the “42/42 Plan,” a roadmap aimed at raising $84 billion in capital over the next two years. The plan involves splitting the funding equally between equity and fixed-income instruments, all earmarked for future BTC acquisitions. Despite reporting ongoing losses, investor sentiment remains optimistic. Strategy continues to be the largest corporate holder of BTC, with its holdings representing nearly 3% of Bitcoin’s maximum supply. At current market prices around $94,000, the company’s bitcoin assets are valued at over $52 billion. Related Reading: Analyst Says $2 XRP Price Is Low As It Still Isn’t “Activated” This recent purchase comes amid a backdrop of strong institutional demand for BTC, particularly through regulated investment vehicles. Notably, BlackRock’s iShares Bitcoin Trust ETF (IBIT) has experienced significant inflows in the past two weeks, reflecting growing interest from institutional investors. However, despite the positive outlook on its BTC strategy, Strategy’s shares were down 2.7% in pre-market trading on Monday, following a gain of over 3% last Thursday. Bitcoin, on the other hand, is trading at $94,596, a slight decrease of 0.2% in the 24-hour time frame, and gains of up to 13% in the monthly period for the market’s largest cryptocurrency. Featured image from DALL-E, chart from TradingView.com
Strategy alone is expected to buy another $124 billion of bitcoin over the next five years, in the broker's bull case.
A combination of sales of common stock and STRK preferred stock funded the latest purchase.
Bernstein said publicly traded companies would increasingly buy bitcoin for their balance sheets amid regulation changes.
At the current bitcoin price of around $94,000, Michael Saylor's Strategy is sitting on a paper gain of about $14.2 billion.
Michael Saylor’s Bitcoin-first investment strategy has once again taken the spotlight after Strategy (formerly MicroStrategy) laid out an ambitious new plan to scale its BTC holdings. The company now owns over half a million bitcoins, making it one of the biggest institutional players in the crypto market. However, the company isn’t done yet, as recent filings shows an ambitious $84 billion plan to acquire more Bitcoins. Related Reading: Strategy’s $84 Billion Bitcoin Appetite: Michael Saylor Goes All In (Again) As the Bitcoin price hovers around $97,000 in early May, the scale of Strategy’s Bitcoin plan is important, not only for its size but also for the significant role it now plays in the company’s trajectory. Strategy’s 42/42 Plan To Increase Bitcoin Holdings During its latest earnings call, Strategy introduced what it calls the 42/42 Plan, which is a roadmap aimed at raising $84 billion in capital over the next two years. The funding will be split equally between equity and fixed-income instruments, all designated to be used for further Bitcoin acquisitions. This initiative follows a $21 billion at-the-market equity offering that recently brought in over 301,000 BTC in recent months, sending the company’s share price soaring by 50%. As of April 28, 2025, Strategy holds 553,555 BTC, acquired at a total cost of $37.9 billion and an average price of $68,459 per coin. Of this total, 107,155 BTC have been bought in 2025 alone, making it the company’s most aggressive buying year to date despite only four months having passed. The firm’s internal disclosures also note an average cost of $66,384.56 per bitcoin. The latest acquisition round included 15,355 BTC purchased at an average price of $92,737 on April 28 at $1.42 billion. These aggressive purchases have positioned Strategy as the world’s second-largest institutional holder of Bitcoin, just behind BlackRock. Image from Bitbo Interestingly, Strategy’s playbook for building a BTC-heavy balance sheet is not slowing down. Even as the company reported its fifth consecutive quarterly net loss, investor sentiment is still optimistic. The company reported an unrealized $5.9 billion loss in the first quarter of 2025. However, its stock is up by approximately 32% since the beginning of the year and has outperformed the Nasdaq 100 index, which is down nearly 6% over the same period. Related Reading: HBAR To $2? Hedera Rides Real-World Asset Wave Toward Breakout How Strategy Is Doing On Its Current BTC Holdings Strategy’s market value is now deeply influenced by Bitcoin’s price direction. The company’s BTC portfolio has yielded a 13.7% return so far in 2025, generating a paper gain of $5.8 billion. Despite the crypto market volatility, the company updated its BTC yield target from 15% to 25% and a $15 billion profit goal by the end of the year. Image From Strategy.com At the time of writing, Strategy’s Bitcoin strategy continues to pay well, and the company’s stock has been rising in tandem with Bitcoin’s recent rally. MSTR is currently up by 3.35% in the past 24 hours and is currently trading at $394.37. Bitcoin, on the other hand, is trading at $96,500. Featured image from Unsplash, chart from TradingView
Strategy, previously known as MicroStrategy, earned a $5.8 billion profit on its Bitcoin investments in the first quarter of 2025. The company now wants to pour even more money into the cryptocurrency, according to details provided by Executive Chairman Michael Saylor. Related Reading: Bold Call: Bitcoin Could Soar To $210K This Year, Says Research Chief Bitcoin Yield Expands As Company Increases Holdings The business intelligence firm experienced its Bitcoin yield increase by nearly 14% since January. The yield represents both possible income and capital appreciation from Strategy’s investments in Bitcoin. With prices of Bitcoin still on the rise, the firm continues to make strategic buys of the digital currency. According to reports, Strategy has changed its business tactics in the last five years. What began as a business intelligence activity is now most famously associated with enormous Bitcoin holdings. The latest performance of the company indicates this strategy continues to work in 2025. $MSTR 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 for 2025. https://t.co/LgeMEd6Dr5 — Michael Saylor (@saylor) May 1, 2025 Investment Plan Doubles To $84 Billion Strategy said that it will now invest $84 billion in purchasing additional Bitcoin, according to Bloomberg. The company’s move is to invest half the funds ($42 billion) in fixed income and the remaining half ($42 billion) in fixed equity. This significant capital outlay indicates Strategy still has faith in the long-term worth of Bitcoin. The company considers Bitcoin a key component to its business model and a fundamental asset for its treasury holdings. The scale of this investment is a staggering increase on past expenditure. If implemented, it would leave Strategy an even more prominent corporate owner of Bitcoin than it is currently. Performance Targets Leap From 15% To 25% Strategy has increased its Bitcoin performance targets for the next year. The firm has been targeting a 15% return on its Bitcoin holdings but now anticipates 25%. Concurrently, the company raised its target for dollar gains from Bitcoin in 2025. The objective rose from $10 billion to $15 billion, implying Strategy anticipates the price and value of Bitcoin to appreciate considerably during the course of the year. Stock Price Surges More Than 3,000% Since 2020 Strategy’s stock price has risen dramatically since the company initially acquired Bitcoin five years ago. Investors who purchased shares at the time have achieved returns of over 3,000%. Related Reading: Code Wars: Cardano Claims The Crown From Ethereum In Core Development The aggressive and early move by the company to purchase Bitcoin has been responsible for much of this impressive stock performance. As other companies hesitated, Strategy boldly ventured into cryptocurrency. This latest performance report solidifies Strategy’s position as a top corporate Bitcoin holder. It also reinforces confidence among cryptocurrency enthusiasts who view Bitcoin as a worthwhile long-term investment. The company’s ongoing doubling down on Bitcoin is occurring as other mainstream firms have begun venturing into cryptocurrency investments. Yet, few have invested as fully in Bitcoin as Strategy has on Saylor’s watch. Featured image from Unsplash, chart from TradingView
Sell-side bulls from Benchmark and TD Cowen viewed Michael Saylor and team's plan as a bold yet realistic escalation of its bitcoin-focused strategy amid rising institutional interest.
MSTR announced a bold “42/42 Plan” to raise $84 billion by 2027 to significantly expand its bitcoin holdings.
"Our business model is to securitize Bitcoin," Michael Saylor said last month on a webinar hosted by The Block. "We'll just keep buying."
In a explainer video, Joe Burnett, Director of Market Research at the Bitcoin-native financial services firm Unchained, dissects what many retail traders still perceive as a paradox: how Strategy (formerly MicroStrategy) can accumulate “tens of thousands of Bitcoins” without catapulting the spot price into a vertical climb. Burnett’s core argument is that Michael Saylor’s billion-dollar shopping sprees are not the direct injection of fresh demand they appear to be, but rather a sophisticated reallocation of existing exposure within the Bitcoin ecosystem. Why Is Bitcoin Not Skyrocketing? Burnett opens by reminding viewers that Bitcoin’s explosive move “from the $16,000 lows of 2022 to $95,000 today” has historically been accompanied by the awakening of dormant supply. He points to on-chain “hodl wave” data, noting that when price accelerates, “older coins start to move,” a signal that seasoned holders are willing to part with inventory into strength. Those coins, he says, “transfer…to new hands,” a cohort he defines broadly as “Strategy, ETF buyers, institutions, nation-states, and of course, more individuals.” Strategy sits squarely in that cohort, yet Burnett stresses that the software company’s trading style is calibrated to minimize market disturbance. “They use a disciplined, patient strategy, placing thousands or even millions of small buy orders over several days,” he says, quoting Saylor’s own public comments that the firm prefers letting “sellers come to them without bidding against themselves.” The tactic allows long-term, arguably less-price-sensitive holders to exchange coins for cash without triggering runaway order-book imbalances. Related Reading: Bitcoin To Explode To $210,000 This Year, Says Quant Powerhouse Presto The video’s analytical pivot arrives when Burnett introduces what he calls an “additional theory” on why Strategy’s purchases fail to ignite parabolic price action: the funding structure. He unpacks it with a simple but pointed analogy. “If you sell one Bitcoin on Kraken and buy one Bitcoin on Coinbase, what happens to the price? Nothing,” he states. “That’s an economically neutral trade.” According to Burnett, Strategy’s balance-sheet maneuvers replicate that neutrality on a corporate scale. When the firm raises cash by issuing new equity, “someone buys that stock instead of buying Bitcoin,” Burnett explains. Strategy then turns the equity proceeds into spot BTC. “Net effect? A shift in exposure. No net new demand.” The same mechanics, he argues, apply to the company’s convertible-note programs. Hedge funds that subscribe to the notes simultaneously hedge by short-selling MSTR shares, expanding float rather than siphoning dollars from unrelated asset classes. “In both cases… the dollars that flow into Bitcoin are first pulled out of a Bitcoin proxy, MSTR shares,” he says, underscoring the zero-sum nature of the flow. New Demand Is Needed Burnett likens the dynamic to the cash migration that followed the launch of US spot Bitcoin exchange-traded funds in early 2024. Billions poured into products from BlackRock and Fidelity, but “billions also flowed out of GBTC,” he notes, leaving aggregate demand for Bitcoin largely unchanged: “From A to B. Not new demand.” Related Reading: Bitcoin Demand Momentum Yet To Recover From Deep Negative Zone, Analyst Says What, then, would constitute price-moving capital? Burnett’s answer is unequivocal: money that “enters Bitcoin without exiting another Bitcoin proxy.” He cites hypotheticals ranging from Apple’s treasury to sovereign wealth funds, or individuals reallocating real-estate and bond holdings directly into BTC. Against that benchmark, Strategy’s transactions look more like intra-system plumbing than fresh inflows. None of this, Burnett emphasizes, should be read as criticism of Saylor. He calls the Strategy chairman “a world-class Bitcoin educator” whose accumulation strategy is “brilliant.” Yet the market impact, Burnett cautions, “is more nuanced than [it may] appear.” In fact, he suggests that the upcoming Saylor-branded STRF funds—which target fixed-income investors rather than equity buyers—could deliver the genuine outside capital that finally “sends the price of Bitcoin parabolic.” Until such exogenous demand materializes, the Bitcoin market is likely to keep absorbing Strategy’s billion-dollar bids with surprising calm. In Burnett’s words, “Saylor can buy a lot of Bitcoin without moving the price much because he’s buying from long-term wealthy holders and doing so in a way that minimizes short-term price impact.” For traders who expected fireworks each time the software company files a new 8-K, that explanation may prove as sobering as it is illuminating. At press time, BTC traded at $94,971. Featured image created with DALL.E, chart from TradingView.com
The analysts said a new at-the-market program from Strategy following its Q1 earnings on Thursday would also bolster a bullish outlook.
"Hard to be bearish, in our view, on this asset with the current demand-supply dynamics," the Bernstein analysts said.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Simon Gerovich said that, despite concerns over the company's share price, its goal is to "create long-term corporate value."
Strategy, formerly known as MicroStrategy, the now Bitcoin proxy firm founded by Bitcoin (BTC) bull Michael Saylor, made headlines once again on Monday by acquiring an additional 6,556 BTC, bringing its total BTC holdings to an impressive 538,200 BTC. This latest purchase, amounting to approximately $556 million at an average price of $84,785 per Bitcoin, comes amid increasing market volatility, mainly characterized by BTC’s inability to surpass the $90,000 mark since early March of this year. Strategy’s Bitcoin Holdings Surge Since Saylor first championed Bitcoin as a reserve asset in 2020, the cryptocurrency has surged by approximately 987.94% from January 2020 to April 2025. This reflects the increasing acceptance of Bitcoin in the corporate world but also highlights Saylor’s foresight in recognizing its potential as a store of value. Related Reading: Dogecoin Stalls After 42 Days Of Flat Price Action — Is A Breakdown Coming? In a recent post on X (formerly Twitter), Saylor confirmed that Strategy’s latest acquisition of 6,556 BTC was part of a broader strategy to capitalize on Bitcoin’s growth. With a year-to-date BTC yield of 12.1% in 2025, the company’s commitment to Bitcoin is more than just an investment; it represents a strategic shift in how corporations view digital assets. As of April 20, 2025, Strategy holds its BTC at an aggregate purchase price of around $36.47 billion, with each Bitcoin acquired at approximately $67,766. MSTR Stock Soars 163% In A Year Strategy’s stock, MSTR, trading at $317.20, has seen a modest day-over-day increase of 1.78%. With a total market cap of $84.7 billion and an enterprise value of $94.5 billion, the company’s valuation continues to benefit significantly from its Bitcoin strategy. Notably, as Bitcoin prices have risen, the net asset value (NAV) of its Bitcoin holdings has climbed to $47.03 billion, reflecting a daily increase of $1.19 billion or 2.60%. Strategy’s bet on Bitcoin has also proven to be remarkably lucrative. Over the past year, MSTR stock has risen by approximately 163%, driven largely by the appreciating value of Bitcoin. Related Reading: XRP Wyckoff Pattern Maps Bullish Run To $3.70 This Summer The fact that the Bitcoin method has yielded a total return of 2,400% is even more remarkable. This suggests that the first investments of those who saw the potential in Strategy’s Bitcoin strategy might see a return of over 24 times their initial investment. Nevertheless, as reported by NewsBTC, an accounting rule that requires digital assets to be evaluated at market prices would cause Strategy to record an unrealized loss of $5.9 billion for the first quarter of the year. As part of its aggressive acquisition strategy, which has included nine acquisitions during this period, the business allegedly spent $7.79 billion on Bitcoin in the same quarter. At the time of writing, BTC trades at $86,900, registering a 3.3% surge in the weekly time frame. Featured image from DALL-E, chart from TradingView.com