MicroStrategy Incorporated (NASDAQ:MSTR) announced it is rebranding as Strategy shortly before reporting a significant loss for the fourth quarter as it invested in growing its Bitcoin holdings.
The company, which has become a Bitcoin proxy by accumulating significant holdings of the cryptocurrency, exited the quarter with approximately 447,470 Bitcoins with a market value of about $42 billion.
During Q4 alone, the company acquired 218,887 Bitcoins for $20.5 billion.
Strategy posted a net loss of $670.8 million or $3.03 per share, compared to income of $89.1 million or $0.50 per share in the year-ago quarter. Analysts had expected a loss per share of $0.09.
Revenue fell 3% year-over-year to $120.7 million, below the $123 million expected by analysts.
For the full year, the company’s Bitcoin yield was 74.3%. Looking to 2025, the company revised its annual Bitcoin yield target to more than 15%. It aims to achieve an annual "BTC $ Gain," a measure of how much Bitcoin has gained in dollars, of $10 billion for 2025.
“Earlier today, we announced that we are now Strategy, a new name that powerfully and succinctly conveys the universal and global appeal of our company,” Strategy CEO Phong Le said in a statement.
“Strategy is at the cutting edge of innovation, championing the two most transformative technologies of the 21st century: Bitcoin and AI.”
The company’s shares traded up 0.5% at $237.45 late morning on Thursday.