MicroStrategy uses this metric to ensure that every acquisition of Bitcoin is accretive — meaning it adds value to shareholders. If they acquire Bitcoin in a way that dilutes the share count too much or isn’t financially smart, it can lower the Bitcoin yield. But if they acquire Bitcoin efficiently, the yield increases, and shareholders are better off.

In simpler terms, the BTC Yield measures how well MicroStrategy is managing its Bitcoin acquisition strategy to grow the value of Bitcoin per share for investors over time. The goal is to continually increase this yield, making each share more valuable in terms of Bitcoin without causing dilution.

MicroStrategy’s revised target for BTC Yield is between 6% and 10% annually from 2025 through 2027. This reflects the company’s commitment to growing its Bitcoin holdings in a way that benefits shareholders.