周五中午交易，MicroStrategy（MSTR）股价上涨了3.87％至396.37美元

尽管该公司发布了巨大的Q1损失，但投资者为其积极的比特币积累和升级目标加油。

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）股价上涨了3.87％，至396.37美元在周五午盘交易中，尽管亏损了1 Q1，但仍报告到2025年的开局很高。

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

这是对公司的性能和更新目标的仔细研究：

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.

尽管截至2025年3月31日的第一季度，净亏损为42亿美元，即每股16.49美元，这比一年前的5310万美元亏损显着增加，但投资者的乐观态度是乐观的。这一损失在很大程度上是由59亿美元未实现的损失驱动的，与数字资产的新公允价值会计规则相关。但是，管理层指出，自那以后，比特币的价格已经恢复，第二季度估计收益已锁定，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."

战略首席执行官Phong Le说：“我们很高兴地报告2025年第一季度的出色结果。” “我们成功地执行了宣布的创纪录的210亿美元股权产品，并使用净收益购买了301,335个比特币，该比特币在本季度内股票增长了50％。我们还完成了两项优先股的首次公开公开产品，进一步增强了我们的资本基础。”

"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补充说：“我们的目标是继续发展我们的比特币财政部并最大化股东价值。” “我们认为，比特币是一项非常有价值的资产，可以作为抵抗通货膨胀和价值存储的对冲。我们还看到了对其他公司的对比特币的强烈兴趣，这对资产类别的未来充满了好处。”

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.

该公司现在被重塑为战略，继续扩大其作为比特币公司最大的公司持有人的作用，该公司融合了553,555 BTC，价值超过530亿美元，成为其财政部。

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.

该公司在2025年的雄心勃勃的比特币目标现已提高。战略将其BTC收益目标从15％提高到25％，其BTC美元收益目标从100亿美元增加到150亿美元。该公司毕业于日期，BTC收益率和58亿美元的BTC收益率已经达到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."

该公司表示：“我们2025年的比特币产量目标现在为25％。这相比之下，比特币的收益率为13.7％，全年2024年的比特币收益率目标为15％。” “我们2025年的比特币美元收益目标现在为150亿美元。这相比之下，比比特币的收益为58亿美元，全年2024年比特币美元的收益为100亿美元。”

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，除了加密货币之外，Microstrategy的软件业务的结果好坏参半。总收入同比下降3.6％，至1.111亿美元，缺少期望值4.57％。订阅服务的强劲增长为61.6％，至3710万美元，但产品支持收入下降了16.2％。从去年的74％开始，毛利润率从74％缩小到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.

该公司的积极举动对其财务产生了重大影响。运营费用飙升了近2,000％，至60亿美元，这主要是由其比特币藏匿处的新会计处理驱动的。然而，现金储备从年底的3810万美元提高到6030万美元。

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.

展望未来，MicroStrategy仍然专注于扩大其比特币财政部。该公司拥有近210亿美元的可用股票提供产能，并大大提高了其股份数量，以资助未来的购买。此外，现在有70多家上市公司在国库中采用比特币，对Web3的兴趣越来越大，MicroStrategy继续引领前进。

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.

该股票一直是主要的跑步股，在过去一年中，年初至今的回报率为36.86％，增长了250.96％，与标准普尔500指数的12.46％上涨相反。这表明，尽管报告了巨大的标题损失，但投资者仍在押注该公司在加密市场势头上资本化的能力。