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Original article by Prathik Desai Original translation: Luffy, Foresight News In 2020, Strategy (then known as MicroStrategy) began exchanging debt and stock for Bitcoin. The company, which originally sold enterprise software, transformed itself under the leadership of co-founder and chairman Michael Saylor, injecting company funds into Bitcoin and becoming the largest Bitcoin holder among listed companies. Five years later, Strategy is still selling software, but the contribution of operations to the company’s overall gross profit has been steadily declining. In 2024, operating gross profit fell to about 15% from 2023; in the first quarter of 2025, the figure was down 10% from the same period last year. As of 2025, Strategy’s model has been copied, adapted, and simplified, paving the way for more than a hundred public entities to hold…# Analysis# bitcoin# crypto# ethereum# Exchange# Market# Token# ToolPre
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- Original translation: Saoirse, Foresight News Translator