週五中午交易，MicroStrategy（MSTR）股價上漲了3.87％至396.37美元

儘管該公司發布了巨大的Q1損失，但投資者為其積極的比特幣積累和升級目標加油。

MicroStrategy (NASDAQ:MSTR) shares rose 3.87% to $396.37 on Friday midday trading after reporting a strong start to 2025, despite a large Q1 loss.

MicroStrategy（NASDAQ：MSTR）股價上漲了3.87％，至396.37美元在周五午盤交易中，儘管虧損了1 Q1，但仍報告到2025年的開局很高。

Here's a closer look at the company's performance and updated targets:

這是對公司的性能和更新目標的仔細研究：

Despite reporting a net loss of $4.2 billion, or $16.49 per share, for the first quarter ending March 31, 2025 - a significant increase from the $53.1 million loss a year ago - there was optimism among investors. This loss was largely driven by a $5.9 billion unrealized loss tied to new fair value accounting rules for digital assets. However, management noted that Bitcoin's price has since recovered, with an estimated $8 billion gain already locked in for the second quarter as BTC trades near $97,300.

儘管截至2025年3月31日的第一季度，淨虧損為42億美元，即每股16.49美元，這比一年前的5310萬美元虧損顯著增加，但投資者的樂觀態度是樂觀的。這一損失在很大程度上是由59億美元未實現的損失驅動的，與數字資產的新公允價值會計規則相關。但是，管理層指出，自那以後，比特幣的價格已經恢復，第二季度估計收益已鎖定，而BTC交易接近97,300美元。

"We are pleased to report strong results for the first quarter of 2025," said Phong Le, CEO of Strategy. "We successfully executed our announced record $21 billion equity offering and used the net proceeds to purchase 301,335 bitcoins, which contributed to a 50% increase in Strategy shares during the quarter. We also completed two preferred stock initial public offerings, further strengthening our capital base."

戰略首席執行官Phong Le說：“我們很高興地報告2025年第一季度的出色結果。” “我們成功地執行了宣布的創紀錄的210億美元股權產品，並使用淨收益購買了301,335個比特幣，該比特幣在本季度內股票增長了50％。我們還完成了兩項優先股的首次公開公開產品，進一步增強了我們的資本基礎。”

"Our goal is to continue to grow our bitcoin treasury and maximize shareholder value," Le added. "We believe that bitcoin is a highly valuable asset that can serve as a hedge against inflation and a store of value. We are also seeing strong interest in bitcoin from other companies, which bodes well for the future of the asset class."

Le補充說：“我們的目標是繼續發展我們的比特幣財政部並最大化股東價值。” “我們認為，比特幣是一項非常有價值的資產，可以作為抵抗通貨膨脹和價值存儲的對沖。我們還看到了對其他公司的對比特幣的強烈興趣，這對資產類別的未來充滿了好處。”

The company, now rebranded as Strategy, continues to expand its role as the largest corporate holder of Bitcoin, having integrated 553,555 BTC valued at over $53 billion into its treasury.

該公司現在被重塑為戰略，繼續擴大其作為比特幣公司最大的公司持有人的作用，該公司融合了553,555 BTC，價值超過530億美元，成為其財政部。

The company's ambitious Bitcoin goals for 2025 have now been raised. Strategy increased its BTC yield target from 15% to 25%, and its BTC dollar gain goal went from $10 billion to $15 billion. Year-to-date, the firm has already achieved a 13.7% BTC yield and a $5.8 billion BTC gain.

該公司在2025年的雄心勃勃的比特幣目標現已提高。戰略將其BTC收益目標從15％提高到25％，其BTC美元收益目標從100億美元增加到150億美元。該公司畢業於日期，BTC收益率和58億美元的BTC收益率已經達到13.7％。

"Our bitcoin yield goal for 2025 is now 25%. This compares to a year-to-date bitcoin yield of 13.7% and a full-year 2024 bitcoin yield goal of 15%," the company said. "Our bitcoin dollar gain goal for 2025 is now $15 billion. This compares to a year-to-date bitcoin dollar gain of $5.8 billion and a full-year 2024 bitcoin dollar gain goal of $10 billion."

該公司表示：“我們2025年的比特幣產量目標現在為25％。這相比之下，比特幣的收益率為13.7％，全年2024年的比特幣收益率目標為15％。” “我們2025年的比特幣美元收益目標現在為150億美元。這相比之下，比比特幣的收益為58億美元，全年2024年比特幣美元的收益為100億美元。”

However, beyond crypto, MicroStrategy's software business saw mixed results. Total revenue declined 3.6% year-over-year to $111.1 million, missing expectations by 4.57%. Subscription services saw a strong surge of 61.6% to $37.1 million, but product support revenue fell 16.2%. Gross profit margin narrowed to 69.4% from 74% last year.

但是，除了加密貨幣之外，Microstrategy的軟件業務的結果好壞參半。總收入同比下降3.6％，至1.111億美元，缺少期望值4.57％。訂閱服務的強勁增長為61.6％，至3710萬美元，但產品支持收入下降了16.2％。從去年的74％開始，毛利潤率從74％縮小到69.4％。

The company's aggressive moves had a significant impact on its financials. Operating expenses soared nearly 2,000% to $6 billion, mainly driven by the new accounting treatment for its bitcoin stash. Cash reserves, however, improved to $60.3 million from $38.1 million at year-end.

該公司的積極舉動對其財務產生了重大影響。運營費用飆升了近2,000％，至60億美元，這主要是由其比特幣藏匿處的新會計處理驅動的。然而，現金儲備從年底的3810萬美元提高到6030萬美元。

Looking ahead, MicroStrategy remains focused on expanding its bitcoin treasury. The firm has nearly $21 billion in available stock offering capacity and raised its authorized share count dramatically to fund future purchases. Moreover, with over 70 public companies now adopting bitcoin into their treasuries and a growing interest in Web3, MicroStrategy continues to lead the way.

展望未來，MicroStrategy仍然專注於擴大其比特幣財政部。該公司擁有近210億美元的可用股票提供產能，並大大提高了其股份數量，以資助未來的購買。此外，現在有70多家上市公司在國庫中採用比特幣，對Web3的興趣越來越大，MicroStrategy繼續引領前進。

The stock has been a major outperformer, boasting a year-to-date return of 36.86% and a staggering 250.96% gain over the past year, in contrast to the S&P 500's 12.46% rise. This indicates that investors are placing bets on the company's ability to capitalize on crypto market momentum, despite reporting large headline losses.

該股票一直是主要的跑步股，在過去一年中，年初至今的回報率為36.86％，增長了250.96％，與標準普爾500指數的12.46％上漲相反。這表明，儘管報告了巨大的標題損失，但投資者仍在押注該公司在加密市場勢頭上資本化的能力。