Strategy thanks Trump, competitors, the color orange, and the number 42
Strategy had fun with its first-quarter earnings report, and investors seem to like it.
Fresh off its first-quarter earnings report, Strategy was up in early trading this morning. The largest corporate bitcoin holder, with 553,555 bitcoin, announced plans to raise a whopping $84 billion, enough to more than double its bitcoin holdings at current prices. Year to date, it’s acquired 106,085 bitcoin.
Strategy gave a ton of shout-outs in both its earnings presentation and on the analysts’ call.
Phong Le, Strategy’s president and CEO, mentioned, “The pro-crypto stance of the new administration led by President Trump has drawn considerable institutional attention to the asset class.”
The company also acknowledged “notable existing bitcoin treasury companies,” including MARA Holdings, Semler Scientific, and Metaplanet. New entrants were also given a nod, including GameStop and Twenty One Capital, even though the new Jack Mallers-led company said its bitcoin vehicle will be “superior” to Strategy’s.
Strategy also gave a shout-out to Douglas Adams’ “The Hitchhiker’s Guide to the Galaxy” with its capital raising target through the end 2027: $42 billion in equity and $42 billion in fixed income. (“Forty-two” is the famous answer to the ultimate question in the books.)
Last but not least, the color orange was also thanked, as it’s the new brand’s primary color, “which represents energy, intelligence and bitcoin.” Strategy’s orange merch also got a mention.
Speaking of the competition, Semler Scientific acquired 111 bitcoin for $10 million, now holding 3,303 bitcoin, as it continues to add to its bitcoin reserve.
And Metaplanet announced today that it issued 3.6 billion yen ($25 million) in 0% ordinary bonds to purchase additional bitcoin. Earlier this week, the Japanese company announced it was establishing a wholly owned subsidiary, Metaplanet Treasury Corp., in Florida.
“The new company is expected to raise up to $250 million in capital, which will be an important step in accelerating its Bitcoin treasury strategy,” according to the announcement.
