Strategy
Strategy (formerly MicroStrategy, NASDAQ: MSTR) is a publicly traded Bitcoin treasury company that holds 780,897 BTC — the largest corporate Bitcoin position globally — and provides institutional and retail investors with regulated equity exposure to Bitcoin through common stock and preferred share issuances.
- Company typePublic
- Founded1989
- HeadquartersChicago, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Strategy does
Strategy, formerly MicroStrategy, is a publicly traded corporation listed on NASDAQ under the ticker MSTR and headquartered in the United States (Delaware-incorporated). Founded in 1989 as a business intelligence and cloud software company, the firm underwent a strategic pivot and was rebranded from MicroStrategy to Strategy in February 2025, consolidating its corporate identity around Bitcoin treasury operations. As of April 2026 the company holds 780,897 BTC, making it the largest corporate Bitcoin holder globally, with a treasury valued at $54.6 billion at then-current market prices against an aggregate cost basis of $59.02 billion.
The company's core "product" is its Bitcoin-denominated corporate treasury, accumulated through successive equity and preferred-stock issuances. Recent capital-markets activity includes a $42 billion at-the-market equity program filed on March 23, 2026 and the issuance of STRC preferred shares used to fund a $1 billion purchase of 13,927 BTC in April 2026. The company provides institutional and retail investors with regulated equity-market exposure to Bitcoin price appreciation without requiring direct cryptocurrency custody, and identifies institutional investors seeking Bitcoin exposure as its primary customer segment.
The business model is effectively that of a publicly traded treasury vehicle: Strategy raises capital through common equity ATM programs and preferred-stock instruments, deploys proceeds into Bitcoin, and offers shareholders exposure to BTC price movements through traditional equity ownership. Revenue from the legacy MicroStrategy enterprise software business is not disclosed in the available sources and is not described as a material focus area post-rebrand. Leadership rests with CEO Phong Le, who has publicly positioned the company around anticipated expansion of bank and nation-state crypto adoption.
Strategy firmographics
Firmographics- Name
- Strategy
- Legal name
- Strategy
- Website
- https://strategymagazines.com
- Company type
- Public
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Strategy (formerly MicroStrategy, NASDAQ: MSTR) is a publicly traded Bitcoin treasury company that holds 780,897 BTC — the largest corporate Bitcoin position globally — and provides institutional and retail investors with regulated equity exposure to Bitcoin through common stock and preferred share issuances.
- Ownership category
- akta.pro rank
Strategy industry classification
Industry- Product category
- Corporate Treasury Services
- NAICS
- All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (52394)
- SIC
- Finance Services (6199), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Alternatives & Multi-Asset Digital Wealth Platforms (PE/VC/Real Assets access) (FSAGAEAL)
- akta.pro secondary industry
- Quant Research & Systematic Strategies (FSACAGAF)
Keywords
Where Strategy is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Markets served
Strategy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Others, Operations
Strategy product offering
Product offeringCore offering
Strategy, formerly MicroStrategy, is a publicly traded corporation that operates as a Bitcoin treasury company, accumulating large holdings of Bitcoin on its corporate balance sheet. The company funds these acquisitions through equity offerings, at-the-market programs, and preferred stock issuances such as STRC, providing institutional and retail shareholders with indirect Bitcoin exposure via a traditional equity wrapper.
Product overview
Strategy (formerly MicroStrategy) is a corporation known primarily for its Bitcoin acquisition strategy and treasury management operations. The company has pivoted to a Bitcoin-focused corporate treasury model, accumulating substantial Bitcoin holdings through equity issuances and preferred stock sales. The source materials do not contain product-level details about distinct brands, modules, or named offerings.
Differentiator
Problem solved
Functional benefit
Products and services
- Bitcoin Treasury Strategy Corporate treasury operation that converts company balance sheet into Bitcoin-denominated assets, accumulating BTC through equity and preferred stock issuances to provide shareholders with Bitcoin appreciation exposure.
- At-the-Market (ATM) Equity Program A $42 billion at-the-market equity program unveiled on March 23, 2026, used to raise capital for ongoing Bitcoin acquisitions.
- STRC Preferred Stock Preferred stock instrument used to fund Bitcoin purchases, including a $1.0 billion issuance that funded the acquisition of 13,927 BTC.
Companies that use Strategy
Customer profileSegments1 record
Ideal customer profiles1 record
Strategy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Strategy partnerships and signals
Strategic signalScale indicators7 records
Recent moves4 records
Expansion highlights4 records
Strategy competitors and assessment
Company assessmentEmerging players
- Core Scientific: Public Bitcoin mining and HPC infrastructure company with BTC treasury exposure post-emergence, offering investors another smaller-cap equity proxy for BTC accumulation.
- Bitfarms: Public Bitcoin miner accumulating BTC on its balance sheet, similar to Strategy but at smaller scale; represents the emerging-player tier of corporate BTC treasury companies.
Direct peers
- Marathon Digital Holdings: Major publicly traded corporate Bitcoin accumulator and miner with large BTC holdings on balance sheet. Most direct analog to Strategy's treasury-first, equity-funded BTC accumulation model.
- Hut 8 Corp. Public Bitcoin miner and infrastructure operator with material BTC holdings, offering investors another equity-wrapped vehicle for BTC exposure comparable to MSTR.
- CleanSpark: Public Bitcoin miner holding BTC on its balance sheet; comparable to Strategy as a publicly traded equity vehicle tied to BTC accumulation and miner economics.
- Riot Platforms: Vertically integrated Bitcoin miner that has increasingly emphasized BTC treasury accumulation, competing for the same institutional 'corporate Bitcoin exposure' investor base as Strategy.
Broad incumbents
- Tesla, Inc. Public company that has held BTC on its corporate balance sheet, occasionally accepting BTC as payment; comparable as a high-profile corporate holder of Bitcoin for treasury diversification.
- Coinbase Global: Largest US-listed crypto exchange and custodian with corporate BTC exposure; comparable as a publicly traded gateway to BTC markets and a holder of digital assets on its own balance sheet.
- Grayscale Bitcoin Trust / Grayscale Investments: Sponsor of GBTC and other crypto investment products that hold large BTC positions for institutional investors, historically competing with MSTR for institutional Bitcoin allocation flows.
- Block Inc. (formerly Square): Public fintech holding material BTC on its corporate balance sheet (originally purchased via Cash App) and offering Bitcoin-related products, providing comparable BTC-on-treasury exposure alongside a broader payments business.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks4 records
Key highlights4 records
Customer concentration
Strategy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Strategy leadership team
Management profileNumber of profiles
Profiles1 record
Strategy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Strategy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Strategy
What does Strategy do?
Strategy, formerly MicroStrategy, is a publicly traded corporation that operates as a Bitcoin treasury company, accumulating large holdings of Bitcoin on its corporate balance sheet. The company funds these acquisitions through equity offerings, at-the-market programs, and preferred stock issuances such as STRC, providing institutional and retail shareholders with indirect Bitcoin exposure via a traditional equity wrapper.
Is Strategy a public or private company?
Strategy is a public company. It is classified as public and is currently operating.
When was Strategy founded?
Strategy was founded in 1989. It employs 51 to 100 people.
Where is Strategy based?
Strategy is headquartered in Chicago, United States, in the North America region.
Who are Strategy's main competitors?
Emerging players on record are Core Scientific and Bitfarms. Direct peers are Marathon Digital Holdings, Hut 8 Corp., CleanSpark and Riot Platforms. Broad incumbents are Tesla, Inc., Coinbase Global, Grayscale Bitcoin Trust / Grayscale Investments and Block Inc. (formerly Square).
Does Strategy have an API?
No public API is recorded for Strategy.
What industry is Strategy in?
Strategy's product category is Corporate Treasury Services. Its primary akta.pro industry code is FSAGAEAL, Alternatives & Multi-Asset Digital Wealth Platforms (PE/VC/Real Assets access), with a secondary code of FSACAGAF, Quant Research & Systematic Strategies. Its NAICS code is 52399 and its SIC code is 6199.