BTC Gain
The number of Bitcoin added to Strategy’s holdings attributable to its BTC Yield over a specified period.
What is BTC Gain?
BTC Gain is defined as the initial Bitcoin holdings at the start of a period multiplied by the BTC Yield for that period, representing the accretive Bitcoin acquired through Strategy’s financing activities. This metric quantifies the direct impact of capital raises on per-share Bitcoin exposure, with year-to-date 2025 figures at ₿115,862 as of October 2025 and ₿140,538 for full-year 2024.
In practice, it illustrates efficiency across financing types; for a $100 million issuance, non-convertible preferred yields the highest BTC Gain at 1,038 BTC compared to 413 BTC from common equity. Strategy prioritizes this to maximize common shareholder benefits, as seen in its 42/42 plan expansion to $84 billion.
Related Terms
Strategy (MSTR)
A business intelligence company that pioneered Bitcoin treasury strategy, holding over 638,460 BTC as its primary reserve asset.
Payment Service Providers (PSPs)
Intermediaries facilitating electronic transactions between merchants and customers.
Mint
The process of creating and issuing new digital assets or tokens on a blockchain, bringing them into circulation.
Same Activity Same Risk Same Regulation (Hong Kong)
Hong Kong's regulatory principle ensuring uniform oversight for financial activities with equivalent risks, applied to stablecoin issuance under the Stablecoins Ordinance effective August 2025.
Reserve Factor (Lending)
A percentage of interest retained by a lending protocol to fund operations or cover losses.
Spot Price
The current market price at which a digital asset can be immediately bought or sold.