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
Decentralized Data Marketplace
A platform for trading data assets without centralized control.
Agentic Commerce
Commerce driven by autonomous agents using digital assets for transactions.
Core Personal Consumption Expenditures (Core PCE)
A variant of PCE excluding volatile food and energy prices to gauge underlying inflation trends, favored by the Fed for policy decisions.
CLOB (Central Limit Order Book)
A trading mechanism that matches buy and sell orders for assets based on price-time priority, commonly used in both traditional and decentralized exchanges.
Bid-Ask Spread
The difference between the highest bid price and the lowest ask price in an order book, indicating market liquidity.
Secured Overnight Financing Rate (SOFR)
A benchmark rate measuring the cost of borrowing cash overnight collateralized by U.S. Treasury securities in the repurchase agreement market.