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Strategy said it will double its capital raising plan to $84 billion to buy more Bitcoin, even after posting a record $4.2 billion loss in the first quarter. In a May 1 earnings call , the Bitcoin buying company, previously known as MicroStrategy, reported revenues of $111.1 million for the first quarter, down 3.6% from the same quarter last year and well short of the 5% Wall Street analysts had forecast. Strategy’s net loss of $4.2 billion, caused by an accounting revision that shows the firm’s Bitcoin holdings valued at market prices,  was around $16.49 per diluted share, far above analysts’ anticipated 11 cents per share loss. Strategy Doubles Capital Raising Plan To Buy More Bitcoin Despite the drop in revenue and the first-quarter loss, Strategy reported a year-to-date (YTD) yield of 13.7% on its BTC holdings. The company said that its YTD yields for its Bitcoin stockpile equates to a gain of more than 61,000 BTC valued at around $5.8 billion.  Bi...

The firm previously stated it had an issue with one of its service partners. On June 13, South Korean yield platform Haru Invest announced that it would be suspending deposits and withdrawals effective immediately. “First of all, the company sincerely apologizes that its latest announcement has caused concerns to our valued invest ors and customers," Haru said, claiming that “certain information provided by a consignment operator was suspected to be false" during an “internal inspection process," thus leading to the transfer halt. “After careful investigation, we concluded that immediate suspension of transactions was necessary to protect our investors. We are currently engaging in a fact-finding process against the operator in question and plan to take necessary measures." Haru Invest also claims that it did not experience a “rug pull” and is fully working to “protect our investors." Earlier in the day, the firm said it came “across a certain issue with o...