strategy

Deutsche Bank, with total assets of $2.1 trillion, disclosed an increase in its holdings of Strategy stock by 53,215 shares, valued at $9.5 million. It currently holds a total of 784,919 shares of Strategy stock, with a total holding value of $140 million.

The New York State Retirement Fund increased its exposure to Bitcoin by adding $41 million in MicroStrategy stock.

JPMorgan stated that if the current buying pace continues, the Strategy's Bitcoin purchases this year could reach approximately $30 billion, higher than the levels of about $22 billion in both 2025 and 2024.The Strategy has already increased its holdings by 145,834 Bitcoins this year, valued at about $11 billion, with most purchases occurring when Bitcoin prices were below its average buying cost of around $75,000. JPMorgan also noted that the premium of the Strategy's net asset value has expanded to about 26% over the past two months, which helps it finance through equity and debt issuance and increase its holdings.

According to The Block, TD Cowen analysts raised the target price for Strategy (MSTR) from $385 to $395, implying an increase of over 110% from the current stock price.Analysts believe that Strategy's increased use of STRC (variable rate perpetual preferred stock) to fund Bitcoin acquisitions significantly enhances capital efficiency and is more attractive than the current market pricing. The company has raised over $2 billion through STRC in the first quarter of 2026, totaling over $5 billion for the year.TD Cowen also dismissed market concerns about "perpetual dilution," emphasizing that the annual dividend burden of STRC accounts for only about 2.2% of its Bitcoin holdings' value, which can be covered by moderate Bitcoin appreciation.

Michael Saylor's Strategy (formerly MicroStrategy) has continued to accelerate its Bitcoin purchases this year. JPMorgan analysts indicate that if the current pace continues, its annual Bitcoin purchase scale could reach approximately $30 billion. So far this year, Strategy has increased its holdings by 145,834 Bitcoins, valued at about $11 billion.Analysis points out that Strategy's large purchases occurred during a period when Bitcoin was below its average cost of about $75,000, reflecting a more "opportunistic" allocation strategy. Based on the current pace, Strategy's total Bitcoin purchases in 2026 could significantly exceed the approximately $22 billion levels of 2024 and 2025. Analysts state that the company has resumed accelerating its purchases since April, indicating that its strategy is increasingly reliant on market conditions and financing availability.At the same time, Strategy's stock continues to trade at about a 26% premium to its net asset value (NAV), providing favorable conditions for its ongoing Bitcoin purchases through equity and debt financing. The company currently holds approximately 818,334 BTC, with a total value exceeding $65 billion.

Michael Saylor, the founder of Bitcoin Treasury Company Strategy, posted on the X platform that Strategy is converting digital capital Bitcoin into digital credit (STRC) and digital equity (MSTR), further emphasizing its Bitcoin-centric capital market strategy.

The Bank of New York Mellon, with assets under management of $2.1 trillion, disclosed that it has increased its holdings by 101,810 shares (worth approximately $18.7 million) of Strategy stock, bringing its total holdings to 1 million shares, valued at approximately $187.2 million.

According to CoinDesk, billionaire real estate investor Grant Cardone stated at the Consensus Miami 2026 event that he has added $100 million in Bitcoin as part of his hybrid strategy combining Bitcoin with income-generating real estate.Cardone revealed that he previously purchased 1,000 BTC for Cardone Capital in 2025, and currently has a total Bitcoin exposure of about $200 million. He believes that this model of combining Bitcoin with real estate can challenge traditional real estate investment trusts (REITs), and this strategy does not involve putting real estate assets on the blockchain, but rather incorporating Bitcoin into the real estate investment structure.

According to market news, Strategy ($MSTR) CEO Phong Le recently stated that Bitcoin will become a global digital reserve asset within the next 10 years, with importance comparable to the US dollar. He predicts that governments around the world will hold Bitcoin by then, and Strategy will become the largest holder of Bitcoin globally.

According to CoinDesk, real estate investor Grant Cardone stated at the Consensus conference that his company has simultaneously increased its holdings of $100 million in Bitcoin to its corporate treasury as part of a $235 million real estate acquisition.Cardone indicated that this latest allocation is an addition to an earlier Bitcoin purchase made in 2025. At that time, Cardone Capital incorporated 1,000 Bitcoins into its balance sheet, with that position valued slightly above $100 million, bringing the company's total Bitcoin exposure to about $200 million. He believes that this combination strategy of holding income-generating real estate along with Bitcoin will outperform real estate investment trusts (REITs).Cardone stated that traditional REITs can never structurally incorporate Bitcoin into their balance sheets, while his strategy aims to combine stable real estate cash flow with the upside potential of Bitcoin, expecting to achieve returns of 22% to 32%. He mentioned that 80% of the investors in the company's fund had never held Bitcoin before, and this strategy is designed to introduce this asset to crypto newcomers.

According to market news, investment firm Benchmark has lowered its target price for Strategy from $705 to $570.

Strategy CEO Phong Le stated that if they are still the largest BTC holder in the next 10 to 20 years, Strategy will become the largest company in the world.

Polymarket "Strategy to Sell Bitcoin Before the End of the Year" probability briefly rose to 40%, increasing by 29% in 24 hours. This event is primarily settled based on official information from MicroStrategy and on-chain data, while also referencing consistent reporting from mainstream media.Currently, the market is paying attention to MicroStrategy's Bitcoin holding strategy and Michael Saylor's recent statement about "possibly selling some Bitcoin to pay dividends." Michael Saylor indicated that he might sell some Bitcoin to pay dividends to demonstrate the feasibility of the strategy to the market.

According to BBX data, yesterday (May 5) marked the dual arrival of the earnings season for cryptocurrency concept stocks and a wave of industry layoffs. The core dynamics are as follows:Strategy, Inc. (NASDAQ: $MSTR) released its Q1 2026 earnings report after the market on May 5 (official press release): net loss of $12.54 billion (per share -$38.25), primarily driven by an unrealized loss of $14.46 billion on Bitcoin holdings------the price of Bitcoin fell from about $87,000 to about $68,000 during Q1; revenue of $124.3 million (up 11.9% year-on-year), slightly exceeding consensus expectations of $123.2 million. As of May 3, the company held a total of 818,334 BTC, with an average price of $75,537 and a total cost of $61.81 billion; approximately 89,600 BTC were added in Q1 (costing about $5.5 billion), marking the second-largest single-quarter purchase in the company's history. The company's annualized return (BTC Yield) for Q1 continued to improve compared to the beginning of the year, with specific values to be disclosed in the official earnings report. Notably, the company mentioned for the first time in its risk disclosures that it may sell Bitcoin to fulfill its annual dividend obligation of about $1.5 billion, with current reserves covering only about 18 months of dividend expenses; management referred to the STRC preferred stock financing as a "great success," raising approximately $5.58 billion through STRC in Q1.Coinbase Global, Inc. (NASDAQ: $COIN) CEO Brian Armstrong announced on May 5 via the X platform and an official memo that the company will lay off about 700 employees (about 14% of the global workforce), citing the downturn in the cryptocurrency market and AI accelerating the reshaping of the company's operational model. Armstrong stated that AI has enabled the engineering team to complete in days what previously took weeks. The company will compress management levels to a maximum of five layers below the CEO/COO and replace traditional functional departments with "AI-native pods," where each manager must directly oversee at least 15 subordinates while maintaining a personal contributor role; affected employees in the U.S. will receive at least 16 weeks of base salary plus an additional two weeks of severance for each year of service. The company's Q1 2026 earnings report will be released tomorrow (May 7) after the market closes, with current analyst consensus expecting revenue of about $1.5 billion and EPS of approximately $0.23---$0.36.

Strategy released its Q1 2026 financial report. As of May 3, 2026, Strategy holds 818,334 bitcoins, a year-to-date increase of 22%, achieving a bitcoin return of 9.4%, with the dollar value of the bitcoins gained from the increase amounting to approximately $4.97 billion. The company has raised over $11.6 billion through its market issuance program and digital credit product STRC, of which STRC has grown 189% since the beginning of the year, with total fundraising reaching $5.58 billion, and a market capitalization of $8.5 billion within nine months, becoming the largest preferred stock by market value globally. STRC's average daily trading volume is $375 million, with a volatility of only 3%, a Sharpe ratio of 2.53, and it has been held by multiple corporate treasuries and decentralized finance protocols.In the first quarter, the company's total revenue was $124.3 million, a year-on-year increase of 11.9%, with a gross profit of $83.4 million and a gross margin of 67.1%. However, due to a significant drop in bitcoin prices during the period, the company recorded an unrealized loss on digital assets of $14.46 billion, leading to an operating loss of $14.47 billion and a net loss of $12.54 billion, resulting in a diluted loss per share of $38.25. The company's cash reserves stand at $2.21 billion, slightly down from the beginning of the year.Strategy will continue to advance its bitcoin treasury strategy, planning to increase the dividend payment frequency of STRC to bi-weekly to enhance liquidity, with future dividends expected to be treated as tax-exempt capital returns. The key performance indicators used by the company, such as bitcoin return and the dollar value of bitcoins gained from the increase, aim to measure the thickening effect of bitcoin holdings per share, but these indicators do not reflect changes in the fair value of digital assets.It is important to note that if future convertible debt matures without being converted into stock, the company may be forced to sell bitcoins or common stock to repay the debt, which does not indicate a proactive desire to realize profits. Strategy's management stated that despite the bitcoin market being in a bear market, traditional financial institutions are still accelerating their layout.