Metaplanet and Strategy (formerly MicroStrategy) Double Down on Bitcoin, Update Q1 2025 Reports

There’s no stopping Metaplanet and Strategy (formerly MicroStrategy). Both companies are now seen as go-to Bitcoin-buying proxies, with business models centred on accumulating and holding the cryptocurrency.

And as Bitcoin approaches the US$100k mark for the first time since February, Strategy has released its 2025 Q1 report.

In the report, the Tysons Corner, Virginia-based company – which is the largest corporate holder of BTC and is generally considered the world’s first Bitcoin Treasury Company – announced some strong financial results and that it will be buying more Bitcoin.

President and Chief Executive Officer, Phong Le highlighted that Strategy raised a record US$21 billion (AU$32.7 billion) through a stock offering, adding over 301,000 BTC to its balance sheet while boosting its share price by 50%.

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Strategy CFO Reports on Strong Start to 2025

Le also noted successful preferred stock IPOs in Q1 and emphasised the company’s leadership in the growing trend of public firms adopting Bitcoin as a treasury asset.

Reporting a strong start to the year with a 13.7% BTC yield – which is already outperforming their 90% goal for the year – and a US$5.8 billion (AU$9.0 billion) BTC dollar gain, meeting 58% of the annual target, was Chief Financial Officer, Andrew Kang.

He announced increased targets for the year “to 25% and our 2025 ‘BTC $ Gain' target to $15 billion”, and highlighted a US$12.7 billion (AU$19.8 billion) boost to retained earnings from adopting fair value accounting.

Despite an unrealised loss in Q1, he noted that the current Bitcoin price of around US$97k (AU$151k) implies a fair value gain of roughly US$8 billion (AU$12.5 billion) so far in Q2:

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The company also announced that it will be opening a US subsidiary in Florida as part of its plan to expand its global footprint.

The company said that it wants to make the US base “a rapidly emerging hub for Bitcoin-focused companies and financial innovation”. It added it would be “recognized for its business-friendly policies and rising status as a global center of capital and technology”.

It’s expected the company will raise US$250 million (AU$389.9 million) in capital to continue its operations and Bitcoin buying.

Speaking of which, Metaplanet has just announced that it has issued “3.6 Billion JPY in 0% Ordinary Bonds to Purchase Additional $BTC”.

*Metaplanet Issues 3.6 Billion JPY in 0% Ordinary Bonds to Purchase Additional $BTC*

That’s around AU$38.6 million – or roughly 398 BTC at current prices, bringing their holdings to over 5,000 Bitcoin.