Saylor Returns with Massive Fundraising
Just hours after issuing a warning about its profitability, Strategy (formerly MicroStrategy) has announced a senior convertible bond issuance of $2 billion with a 0% interest rate. This fundraising is aimed at strengthening the company’s liquidity and financing new Bitcoin purchases, confirming the company’s aggressive strategy in BTC accumulation.
The bonds will mature on March 1, 2030, unless they are redeemed, converted, or repaid in advance. Strategy plans to settle these conversions in cash, Class A common stock, or a combination of both. At the same time, the company offers early buyers the opportunity to acquire up to an additional $300 million in bonds within five business days after the issuance.
Bitcoin Profits and Surges Above $96,000
After a sudden drop below $94,000, Bitcoin gained momentum following Saylor’s announcement, even surpassing $96,000 during the day, allowing the entire crypto market to recover.
A Warning About Profitability and Increased Tax Pressure
Earlier in the day, Strategy filed a 10-K document with the US Securities and Exchange Commission (SEC), revealing a major risk to its future profitability. The company recorded a significant net loss for the 2024 fiscal year, mainly due to a $1.79 billion depreciation of its digital assets. It warned that it may not regain profitability in the future, particularly in the event of further losses in fair value of its Bitcoin holdings.
The potential decline in the price of Bitcoin poses a threat to Strategy’s ability to honor its financial obligations, a recurring concern for a company whose cash reserves are entirely tied to market volatility.
Record Bitcoin Accumulation in 2024 for Saylor
Despite these concerning financial signals, Strategy continues relentlessly pursuing its goal of Bitcoin accumulation. In 2024, the company acquired approximately 258,320 BTC, further solidifying its position as the largest Bitcoin holder in the world. After its latest purchase made between February 3 and 9, 2025, Strategy now holds 478,740 BTC, an estimated reserve worth over $46 billion at the current price.
