The strategy (formerly known as MicroStrategy) reports the largest quarterly Bitcoin acquisition to date, indicating a significant increase in holdings in the fourth quarter of 2024.
In the last quarter of 2024, the company purchased 218,887 BTC, bringing total holdings of 447,470 BTC as of December 31st. The company has made an additional Bitcoin acquisition this year, and currently holds 471,107 BTC, worth around $460.
The strategy explained that its aggressive accumulation coincides with the 21/21 Plan, a financial strategy aimed at securing $42 billion over three years. The plan aims to raise $21 billion in stock and $21 billion in fixed income securities to support the ongoing Bitcoin acquisition.
CEO Phong Le noted that the company has already secured $20 billion of planned funds ahead of the original timeline. He also said he is in a strong position to support investors to further strengthen shareholder value throughout 2025.
He said:
“We completed $2 billion of our $42 billion capital plan well ahead of our initial timeline, while leading the digital transformation of capital in the financial markets.”
Measure Bitcoin Performance
The strategy has introduced several key performance indicators (KPIs) to track your Bitcoin strategy more effectively.
CFO Andrew Kang explained that these metrics provide better and deeper insight into the company's financial position and strengthen its commitment to transparency.
One of these metrics, BTC Reave, reflects the rate of change in Bitcoin holdings compared to outstanding stocks. In 2024, the company reported a BTC yield of 74.3%. The company said it is revising its 2025 target to achieve an annual BTC yield of over 15%.
The company also deploys BTC gain and BTC$ gain metrics to assess Bitcoin-related financial performance.
The BTC gain reflects an increase in Bitcoin Holding over a certain period, while the BTC $ gain converts that growth into dollar terms. In 2024, the company recorded a BTC gain of 140,538 BTC and set a $10 billion BTC $ gain target in 2025.
Economic impact
Despite the expansion of the Bitcoin portfolio, the strategy reported a net loss of $670.8 million in the fourth quarter of 2024, converting to $3.03 per share.
This was primarily due to Bitcoin Holdings' impairment expense of $10.1 billion. This rose sharply from the previous year's record $39.2 million.
However, future changes in accounting standards are expected to stabilize financial reporting.
Starting in the first quarter of 2025, the strategy will adopt fair value accounting standards set by the Financial Stability Accounting Committee (FASB). This change requires Bitcoin Holding to be measured at fair value, and profits and losses will be reflected in net income for each reporting period.
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