Michael Saylor’s Bitcoin-buying firm Strategy, previously known as MicroStrategy, has released its first-quarter earnings report, showcasing a year-to-date yield of 13.7% on its Bitcoin holdings. According to the company’s May 1 statement, this yield equates to a gain of more than 61,000 BTC, valued at approximately $5.8 billion. Strategy uses Bitcoin yield and gain as unofficial accounting metrics to measure the success of its BTC purchases. The firm’s CFO, Andrew Kang, announced plans to increase the Bitcoin yield target for the year to 25% and the Bitcoin gain target to $15 billion. However, Strategy fell short of analyst estimates for the first quarter, reporting revenues of $111.1 million, a 3.6% decrease from the previous year, and a net loss of $4.2 billion. The company also revealed a significant rise in operating expenses due to a $5.9 billion unrealized loss on its Bitcoin holdings. To finance future Bitcoin acquisitions, Strategy announced an additional $21 billion worth of stock offerings. Strategy’s shares (MSTR) closed trading on May 1 at $381.60, up 0.39%, but fell slightly after hours to $378.50. Despite a 31.5% increase in share value this year, MSTR remains below its November peak of over $470 per share. Since initiating its Bitcoin buying spree in 2020, Strategy has amassed more than 550,000 BTC at an average cost of around $68,500 per Bitcoin, totaling nearly $38 billion. As of May 1, Strategy’s Bitcoin treasury is valued at over $53 billion. Industry analysts suggest that continued institutional Bitcoin purchases, including those from corporate entities like Strategy, could eventually push retail investors out of the market. Strategy holds the largest Bitcoin reserves among public companies, with public firms collectively holding over $73 billion worth of Bitcoin, while Bitcoin and institutional funds hold an additional $128 billion, as per data from BitcoinTreasuries.NET.