MicroStrategy Incorporated

Strategy, formerly known as MicroStrategy Incorporated, is a U.S.-based publicly traded company renowned for its dual identity as an enterprise analytics provider and the world’s largest publicly held corporate Bitcoin investor.

What is Strategy (Formerly MicroStrategy) in Crypto?

Strategy, formerly known as MicroStrategy Incorporated, is a U.S.-based publicly traded company renowned for its dual identity as an enterprise analytics provider and the world’s largest publicly held corporate Bitcoin investor. Founded in 1989 by Michael Saylor, the company rebranded to Strategy in February 2025, underscoring its transformation from a software firm to a Bitcoin-focused holding company.

Key Company Facts

  • Founded: 1989
  • Rebranded: February 2025 (from MicroStrategy to Strategy)
  • Founder & Executive Chairman: Michael Saylor
  • CEO: Phong Le
  • Headquarters: Tysons Corner, Virginia, USA
  • Ticker Symbol: MSTR (NASDAQ)
  • Employees: ~1,534 (as of 2024)

Core Business

Strategy operates in two primary domains:

  1. Bitcoin Treasury Management
    • As of May 2025, Strategy holds 576,230 BTC, acquired at a cost of $33.14 billion, with a market value exceeding $63.88 billion.
    • Bitcoin acquisition is funded through stock offerings and debt issuance, positioning Strategy as a corporate proxy for Bitcoin exposure.
  2. Enterprise Software (MicroStrategy ONE)
    • Continues to offer business intelligence and analytics software for data-driven decision-making, albeit as a secondary focus.

Financial Growth & Market Position

  • Market Cap: ~$115 billion (May 2025)
  • Index Inclusion: Joined the Nasdaq-100 in December 2024
  • Stock Performance: Shares surged 75% in Q2 2025, tracking Bitcoin’s rise past $110,000
  • Institutional Interest: Strategy has seen investment from 12+ government and institutional entities, including pension funds and central banks, seeking indirect Bitcoin exposure

Recent Developments

  • Bitcoin Acquisition Surge: Added 7,390 BTC between May 12–18, 2025
  • Rebranding: Changed name to Strategy to emphasize its focus on Bitcoin-led financial strategy
  • Capital Raise: Issued $705.7 million in equity and preferred shares in May 2025 to fund additional BTC purchases
  • Public Sector Investment: Gained attention as a Bitcoin proxy among global governments and funds

Controversies & Legal Challenges

  • SEC Class-Action Lawsuit (2025): Investors allege misleading statements about the profitability and risk of Strategy’s Bitcoin-focused business model; Strategy denies wrongdoing and is defending the case.
  • Tax Fraud Settlement (2024): Michael Saylor and Strategy paid $40 million to settle a lawsuit with Washington, D.C., resolving tax evasion claims from 2005 to 2021.
  • Layoffs: In late 2024, Strategy cut 20% of its workforce (approx. 400 employees), aligning resources with its Bitcoin-centric focus.

Strategic Outlook

Strategy is now widely viewed as a Bitcoin-native financial technology company, blending institutional-grade analytics with aggressive cryptocurrency investment. Its evolution positions it uniquely within capital markets as a quasi-Bitcoin ETF, allowing traditional investors exposure to BTC through publicly traded equity.