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MSTR's Capital Raising Strategy Aids Bitcoin Holding: What's Ahead?
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Key Takeaways
Strategy holds 628,791 bitcoins, equal to 3% of all bitcoins, as of July 29.
The company raised $10.7B in equities and $7.6B in fixed income securities year to date.
Strategy projects 2025 net income of $24B in 2025.
Strategy (MSTR - Free Report) is the world’s largest bitcoin treasury company, holding 628,791 bitcoins as of July 29, 3% of all bitcoin in existence. The company’s disciplined approach to capital raising through preferred equity offerings — Strike (STRK), Strife (STRF), STRD (Stride) and STRC (Stretch) — has been a key catalyst.
Strategy has issued $10.7 billion in equities and $7.6 billion in fixed income securities year to date. Among fixed income securities, the company raised $2 billion, $0.94 billion, $2.52 billion, $1.13 billion and $1.02 billion through convertible notes, STRF, STRC, STRK and STRD, respectively.
Strategy now expects to achieve a bitcoin yield of 30% and $20 billion in gains, assuming the bitcoin price hits $150,000 at the end of the year. Bitcoin yield has hit 25% year to date and was 19.7% at the end of the second quarter of 2025. In dollar terms, bitcoin gain was $9.5 billion at the end of the second quarter and $13.2 billion year to date.
MSTR Faces Tough Competition
For 2025, Strategy expects operating income of $34 billion, net income of $24 billion and earnings of $80 per share, based on a bitcoin price outlook of $150,000 at the end of the year. The company’s estimated 2025 net income is better than its competitors Riot Platforms’ (RIOT - Free Report) and MARA Holdings’ (MARA - Free Report) estimated net losses of $0.5 billion and $0.8 billion, respectively. As of June 30, MARA Holdings and Riot Platforms had 49,951 and 19,273, respectively.
Riot Platforms is a vertically-integrated bitcoin mining company offering comprehensive and critical infrastructure to mine bitcoin. The company has been exploring the feasibility of developing a portion of RIOT’s power capacity for AI and High-Performance Computing uses. MARA Holdings has strategically expanded its mining capacity, acquiring facilities at remarkably low costs and reinforcing its vertical integration.
The Zacks Consensus Estimate for MSTR’s 2025 revenues is pegged at $466.8 million, indicating 0.7% growth from 2024’s reported figure. The consensus mark for MARA Holdings’ 2025 revenues is pegged at $1.02 billion, suggesting 56% growth from 2024’s reported figure. The Zacks Consensus Estimate for Riot Platforms’ 2025 revenues is pegged at $665.6 million, indicating 76.7% growth from 2024’s reported figure.
Strategy shares have appreciated 18.5% year to date, outperforming the broader Zacks Finance sector’s return of 11.8%.
MSTR Stock’s Performance
Image Source: Zacks Investment Research
The MSTR stock is trading at a premium, with a forward 12-month price/sales of 2.03X compared with the MARA Holdings’ 1.19X and Riot Platforms’ 1.49X. Strategy has a Value Score of F.
Valuation: MSTR vs. MARA
Image Source: Zacks Investment Research
Valuation: MSTR vs. RIOT
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MSTR’s 2025 loss is pegged at $15.73 per share, unchanged over the past 30 days. The company reported a loss of $6.72 in 2024.
Image: Bigstock
MSTR's Capital Raising Strategy Aids Bitcoin Holding: What's Ahead?
Key Takeaways
Strategy (MSTR - Free Report) is the world’s largest bitcoin treasury company, holding 628,791 bitcoins as of July 29, 3% of all bitcoin in existence. The company’s disciplined approach to capital raising through preferred equity offerings — Strike (STRK), Strife (STRF), STRD (Stride) and STRC (Stretch) — has been a key catalyst.
Strategy has issued $10.7 billion in equities and $7.6 billion in fixed income securities year to date. Among fixed income securities, the company raised $2 billion, $0.94 billion, $2.52 billion, $1.13 billion and $1.02 billion through convertible notes, STRF, STRC, STRK and STRD, respectively.
Strategy now expects to achieve a bitcoin yield of 30% and $20 billion in gains, assuming the bitcoin price hits $150,000 at the end of the year. Bitcoin yield has hit 25% year to date and was 19.7% at the end of the second quarter of 2025. In dollar terms, bitcoin gain was $9.5 billion at the end of the second quarter and $13.2 billion year to date.
MSTR Faces Tough Competition
For 2025, Strategy expects operating income of $34 billion, net income of $24 billion and earnings of $80 per share, based on a bitcoin price outlook of $150,000 at the end of the year. The company’s estimated 2025 net income is better than its competitors Riot Platforms’ (RIOT - Free Report) and MARA Holdings’ (MARA - Free Report) estimated net losses of $0.5 billion and $0.8 billion, respectively. As of June 30, MARA Holdings and Riot Platforms had 49,951 and 19,273, respectively.
Riot Platforms is a vertically-integrated bitcoin mining company offering comprehensive and critical infrastructure to mine bitcoin. The company has been exploring the feasibility of developing a portion of RIOT’s power capacity for AI and High-Performance Computing uses. MARA Holdings has strategically expanded its mining capacity, acquiring facilities at remarkably low costs and reinforcing its vertical integration.
The Zacks Consensus Estimate for MSTR’s 2025 revenues is pegged at $466.8 million, indicating 0.7% growth from 2024’s reported figure. The consensus mark for MARA Holdings’ 2025 revenues is pegged at $1.02 billion, suggesting 56% growth from 2024’s reported figure. The Zacks Consensus Estimate for Riot Platforms’ 2025 revenues is pegged at $665.6 million, indicating 76.7% growth from 2024’s reported figure.
MSTR’s Share Price Performance, Valuation & Estimates
Strategy shares have appreciated 18.5% year to date, outperforming the broader Zacks Finance sector’s return of 11.8%.
MSTR Stock’s Performance
Image Source: Zacks Investment Research
The MSTR stock is trading at a premium, with a forward 12-month price/sales of 2.03X compared with the MARA Holdings’ 1.19X and Riot Platforms’ 1.49X. Strategy has a Value Score of F.
Valuation: MSTR vs. MARA
Image Source: Zacks Investment Research
Valuation: MSTR vs. RIOT
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MSTR’s 2025 loss is pegged at $15.73 per share, unchanged over the past 30 days. The company reported a loss of $6.72 in 2024.
Strategy Inc Price and Consensus
Strategy Inc price-consensus-chart | Strategy Inc Quote
Strategy currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.