Strategy Stock Surges: Will Michael Saylor Announce a $100B Capital Raise for Bitcoin?
Strategy (NASDAQ: MSTR), formerly known as MicroStrategy, ended April with a remarkable 32% surge in its stock price, its strongest monthly gain since November 2024.
The bullish momentum in MSTR shares is being fueled by growing anticipation surrounding a potential capital raise and the firm’s ongoing aggressive Bitcoin acquisition strategy.
Strategy Stock Chart (Source: Google Finance)
The software and business intelligence firm, led by Bitcoin evangelist Michael Saylor, closed trading on April 30 at $380.11, up from $288 on March 31, according to Google Finance.
That rally comes ahead of the company’s Q1 2025 earnings call scheduled for May 1, where Saylor is expected to detail the company’s financial performance and potentially unveil new strategic moves.
Bitcoin Holdings Power Strategy Stock Growth
The meteoric April rise closely mirrors the broader bullish sentiment in the crypto markets, particularly around Bitcoin. As of the end of April, the company holds 553,555 BTC, worth an estimated $52.7 billion, based on Saylor Tracker data. This massive hoard of Bitcoin makes Strategy one of the largest corporate holders of the asset, second only to entities like BlackRock and certain ETFs.
Strategy Bitcoin Holdings (Source: SaylorTracker)
The stock’s surge parallels Bitcoin’s recent climb to all-time highs. BTC crossed the $100,000 mark for the first time in December 2024, a rally sparked partly by macroeconomic developments and renewed institutional interest following Donald Trump’s U.S. presidential election victory in November. As of late April 2025, Bitcoin is trading near $95,000, further enhancing the value of Strategy’s digital asset reserves.
The last time Strategy saw a comparable monthly gain was November 2024, when its stock jumped 59%, correlating with Bitcoin’s explosive move toward six figures.
Earnings Preview and Capital Raise Expectations
The excitement surrounding Strategy isn’t just about its Bitcoin play. Market watchers are also eyeing its Q1 2025 earnings, with analysts polled by Seeking Alpha projecting a modest 1% year-on-year revenue increase to $116.6 million. While that figure would mark an improvement from the $115.4 million reported in Q1 2024, it represents a 3.4% decline from Q4 2024’s revenue of $120.7 million.
The company has beaten revenue estimates just 25% of the time over the past two years, so investor sentiment is also being buoyed by speculative expectations beyond earnings performance.
Much of the current hype stems from mounting speculation that Strategy will announce a significant capital raise during the upcoming earnings call. Thomas Fahrer, founder of Apollo Sat, stirred online chatter with an April 30 post on X stating, “MSTR will announce a huge capital raise in their earnings call tomorrow. $100B is in play.”
This speculation aligns with Strategy’s March 10 announcement of a new sales agreement allowing it to issue 8% Series A perpetual preferred stock. The proceeds, according to the firm, would be used for general corporate purposes, including additional Bitcoin acquisitions.
Aggressive Growth or Risky Bet? Analysts React
The scale of the company’s Bitcoin-centric approach has drawn both admiration and scrutiny. Critics argue that tying the company’s fate so closely to Bitcoin introduces excessive volatility and risk, while supporters view Saylor’s strategy as a bold, long-term bet on a digital monetary future.
Richard Byworth, a partner at Syz Capital, suggested that Strategy could be even more aggressive. In a recent interview, he floated the idea of acquiring cash-rich companies to fund Bitcoin buys, potentially bypassing over-the-counter (OTC) desks and driving prices even higher.
“Should Saylor buy Bitcoin really carelessly?” Byworth asked rhetorically, implying that traditional methods of cautious accumulation may be hindering Bitcoin’s upward trajectory.
With earnings looming and speculation at a fever pitch, all eyes will be on Strategy’s May 1 call. Investors and analysts alike are keen to see whether Saylor will double down on Bitcoin again—and if the rumored capital raise materializes.
