MicroStrategy Inc Class A (NASDAQ:MSTR), the world’s first and largest Bitcoin Treasury Company, stock rose 0.85% (As on June 20, 11:27:31 AM UTC-4, Source: Google Finance) after the company is upgraded to Hold by The Asian Investor. The analyst cites Bitcoin’s recovery to all-time highs as reducing investment risk for the company, despite its aggressive debt-financed Bitcoin acquisition strategy. “Given Bitcoin’s recovery to new all-time highs and a more moderate premium to book value, I am up-grading shares of MSTR to hold. While I believe that shares of Strategy are not yet competitively priced, I believe the risk profile has improved lately as the Bitcoin price has seen a massive recovery and even touched on new highs briefly.”

Meanwhile, as of March 31, 2025, the Company’s digital assets were comprised of approximately 528,185 bitcoins, with an original cost basis and market value of $35.6 billion and $43.5 billion, respectively, which reflects an average cost per bitcoin of approximately $67,457 and a market price per bitcoin of $82,445, respectively. The Company had received aggregate net proceeds of approximately $7.7 billion during the three months ended March 31, 2025, and additional aggregate net proceeds of approximately $2.3 billion between April 1, 2025 and April 28, 2025

Moreover, for the first quarter of 2025, total revenues were $111.1 million, a 3.6% decrease year-over-year, compared to the first quarter of 2024. Subscription Services Revenues were $37.1 million, a 61.6% increase year-over-year, compared to the first quarter of 2024. Product licenses and subscription services revenues were $44.4 million, a 23.6% increase year-over-year, compared to the first quarter of 2024. Product support revenues were $52.5 million, a 16.2% decrease year-over-year, compared to the first quarter of 2024. Gross profit for the first quarter of 2025 was $77.1 million, representing a 69.4% gross margin, compared to $85.2 million, representing a gross margin of 74.0%, for the first quarter of 2024.

In addition, loss from operations was $5.921 billion, compared to $203.7 million for the first quarter of 2024. Net loss was $4.217 billion, or $16.49 per common share on a diluted basis, as compared to $53.1 million, or $0.31 per common share on a diluted basis, for the first quarter of 2024. Net loss attributable to common stockholders was $4.228 billion as compared to $53.1 million for the first quarter of 2024. As of March 31, 2025, the Company had cash and cash equivalents of $60.3 million, as compared to $38.1 million as of December 31, 2024, an increase of $22.2 million.