Strategy (MSTR)
A business intelligence company that pioneered Bitcoin treasury strategy, holding over 638,460 BTC as its primary reserve asset.
What is Strategy?
Strategy (formerly MicroStrategy, ticker: MSTR) is a business intelligence software company that rebranded in February 2025, pioneering a Bitcoin treasury strategy by holding over 638,460 BTC (valued at ~$62.6 billion) as its primary reserve asset. Led by Michael Saylor, it raises capital via convertible notes and equity to acquire BTC, aiming to increase “BTC per share” for long-term value, trading at premiums (mNAV >2x) as a leveraged Bitcoin proxy.
This model has inspired DATs globally, blending software revenue with crypto holdings for amplified exposure.
Related Terms
NAV
Net Asset Value - the per-share value of an investment fund's assets minus liabilities, calculated daily to determine share prices.
Alpha
An advantage in digital asset trading gained through early or exclusive access to information, strategies, or opportunities not yet widely known by market participants.
Health Factor (Lending)
A metric indicating the safety of a borrower’s loan relative to collateral value.
Double Spend
Attempting to spend the same digital asset more than once in a blockchain network.
Contract Resolution
The process of determining the outcome of a prediction market contract to distribute payouts based on the event’s result.
Flash Loan
A type of uncollateralized loan in decentralized finance (DeFi) that is borrowed and repaid within a single blockchain transaction.