{"id":"strategy","title":"Strategy","content":"**Strategy**, formerly known as MicroStrategy, is a publicly traded American company (NASDAQ: MSTR) that operates with a dual business model. It functions as an enterprise software company providing business intelligence (BI) and artificial intelligence (AI) powered analytics, while also being a prominent corporate holder of [Bitcoin](https://iq.wiki/wiki/bitcoin), which it uses as its primary treasury reserve asset. [\\[1\\]](#cite-id-PErFF8cKzZ) [\\[2\\]](#cite-id-l7tywvDDcY)\n\n## History\n\nThe company was founded as MicroStrategy in 1989 by Michael Saylor. [\\[2\\]](#cite-id-l7tywvDDcY) For over three decades, it focused on developing and selling enterprise software, establishing itself as a significant player in the business intelligence industry. The company claims to be the largest independent, publicly traded business intelligence company in the world. [\\[1\\]](#cite-id-PErFF8cKzZ)\n\nA pivotal shift in the company's corporate strategy began with its decision to adopt [Bitcoin](https://iq.wiki/wiki/bitcoin) as its primary treasury [reserve](https://iq.wiki/wiki/reserve) asset. This move distinguished it from other technology companies and positioned it as a pioneer in corporate treasury management using digital assets. This dual focus on software and [Bitcoin](https://iq.wiki/wiki/bitcoin) eventually led to a major rebranding initiative.\n\nIn February 2025, the company officially changed its name from MicroStrategy to Strategy. The change was framed as a simplification of the brand identity to reflect its evolved corporate mission. The company referenced this philosophy in a social media post, quoting Antoine de Saint-Exupéry:\n\n> \"Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.\" [\\[1\\]](#cite-id-PErFF8cKzZ) [\\[2\\]](#cite-id-l7tywvDDcY)\n\n## Overview\n\nStrategy's corporate structure is built upon two distinct but complementary pillars: its long-standing enterprise software division and its more recent, high-profile [Bitcoin](https://iq.wiki/wiki/bitcoin) acquisition strategy. The company's leadership states that \"the combination of our operating structure, [Bitcoin](https://iq.wiki/wiki/bitcoin) strategy, and focus on technology innovation provides a unique opportunity for value creation.\" [\\[1\\]](#cite-id-PErFF8cKzZ)\n\nThis integrated approach allows the company to generate revenue from its software operations, which can then be used to further its capital allocation strategy, primarily through the acquisition of more [Bitcoin](https://iq.wiki/wiki/bitcoin).\n\nThe software arm of the business provides a cloud-native, AI-powered enterprise analytics platform to thousands of customers globally. With over 35 years of experience in the sector, this division provides a [stable](https://iq.wiki/wiki/stable) operational [foundation](https://iq.wiki/wiki/foundation) for the company. The [Bitcoin](https://iq.wiki/wiki/bitcoin) strategy involves acquiring and holding the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) on its balance sheet as a primary treasury [reserve](https://iq.wiki/wiki/reserve) asset, a move intended to protect against the devaluation of fiat currency and to create long-term value for shareholders. The company actively promotes this strategy and organizes events to educate other corporations on its approach. As a result of its extensive holdings, Strategy identifies itself as the \"world's first and largest [Bitcoin](https://iq.wiki/wiki/bitcoin) Treasury company.\" [\\[1\\]](#cite-id-PErFF8cKzZ)\n\nThe company maintains a public-facing financial data dashboard on its primary website, strategy.com. This dashboard provides real-time and historical data on its stock performance (MSTR), the value of its [Bitcoin](https://iq.wiki/wiki/bitcoin) holdings, corporate liabilities, and other market metrics. This [level](https://iq.wiki/wiki/level) of transparency is a core component of its investor relations, allowing stakeholders to track the performance of both its software business and its [Bitcoin](https://iq.wiki/wiki/bitcoin) treasury in detail. The data for this dashboard is sourced from the financial data platform Polygon.io. [\\[3\\]](#cite-id-zJAB0dP896)\n\n## Business Model\n\nStrategy's operations are formally divided into two core segments that define its market identity and revenue streams.\n\n### Enterprise Software\n\nThe [foundation](https://iq.wiki/wiki/foundation) of Strategy's business is its enterprise software division. The company develops and markets an analytics platform designed to help organizations analyze internal and external data to make more informed business decisions. The platform is described as being cloud-native, which allows for scalability and accessibility, and is enhanced with artificial intelligence capabilities to provide predictive analytics and automated insights. This technology serves a diverse global client [base](https://iq.wiki/wiki/base), ranging [across](https://iq.wiki/wiki/across) various industries.\n\nThe company leverages its decades of experience to maintain its position in the competitive business intelligence market. Revenue from software licensing, subscriptions, and consulting services provides the primary operational cash [flow](https://iq.wiki/wiki/flow) for the corporation. [\\[1\\]](#cite-id-PErFF8cKzZ)\n\n### Bitcoin Treasury Strategy\n\nStrategy has gained significant attention for its pioneering approach to corporate treasury management. The company was one of the first publicly traded corporations to adopt [Bitcoin](https://iq.wiki/wiki/bitcoin) as its primary treasury [reserve](https://iq.wiki/wiki/reserve) asset. This strategy involves using corporate funds, including cash from operations and proceeds from capital raises, to systematically purchase and hold [Bitcoin](https://iq.wiki/wiki/bitcoin). The company's stated rationale is to use the digital asset as a hedge against monetary inflation and as a store of value with the potential for significant appreciation.\n\nThe company has made numerous [Bitcoin](https://iq.wiki/wiki/bitcoin) acquisitions since initiating this strategy. The company's philosophy on this approach was summarized in a social media post stating, \"$BTC is the universal M\\&A target.\" [\\[2\\]](#cite-id-l7tywvDDcY)\n\nOn December 8, 2025, Strategy announced its latest acquisition of 10,624 BTC for approximately $962.7 million, at an average price of around $90,615 per bitcoin. Following this purchase, the company reported its total holdings as of December 7, 2025: [\\[5\\]](#cite-id-Lg30cwRaJ2Px8Um6) [\\[6\\]](#cite-id-vwoYyxqwxH4S5Etu)\n\n* Total [Bitcoin](https://iq.wiki/wiki/bitcoin) Holdings: 660,624 BTC\n* Total Acquisition Cost: Approximately $49.35 billion\n* Overall Average Purchase Price: Approximately $74,696 per [bitcoin](https://iq.wiki/wiki/bitcoin)\n\nThese figures underscore the scale of Strategy's commitment to its [Bitcoin](https://iq.wiki/wiki/bitcoin) treasury, which represents a substantial [portion](https://iq.wiki/wiki/portion) of the company's overall enterprise value. With the announcement, the company also reported a \"BTC Yield of 24.7% YTD 2025,\" reflecting the performance of its holdings. [\\[6\\]](#cite-id-vwoYyxqwxH4S5Etu)\n\n## Financial Products\n\nIn addition to its common stock (NASDAQ: MSTR), Strategy offers several financial products in the form of preferred securities. These instruments are designed to provide investors with income through dividends and represent another avenue through which the company raises capital.\n\nThe known preferred securities and their associated ticker symbols include:\n\n* Stretch ($STRC): This is an income-focused product that offers a 10.25% annual dividend rate, with dividends paid to investors on a monthly basis.\n* Other Preferred Securities: The company has also issued other series of preferred stock under the tickers **$STRK**, **$STRF**, and **$STRD**.\n\nInformation regarding the tax implications of these dividends, specifically related to \"Return of Capital,\" is made available to investors through the company's official channels. These financial products diversify the company's capital structure and appeal to a different class of investors compared to those holding its common stock. [\\[2\\]](#cite-id-l7tywvDDcY)\n\n## Corporate Affairs\n\n### Key Figures\n\n* **Michael Saylor**: The founder of the original company, MicroStrategy, in 1989. He has been the primary architect of the company's pivot to a Bitcoin-focused treasury strategy and remains a prominent public figure and advocate for the digital asset. [\\[4\\]](#cite-id-4xV4eivJAW)\n\n### Events\n\nStrategy hosts several major events aimed at its customers, partners, and the broader business community. These events serve as platforms for product announcements, industry education, and networking.\n\n* Strategy World: An annual conference that brings together professionals from the data analytics and business intelligence fields. The event showcases the latest features of the company's software platform, customer success stories, and industry trends. The company has already begun promoting Strategy World 2026. [\\[1\\]](#cite-id-PErFF8cKzZ)\n* [Bitcoin](https://iq.wiki/wiki/bitcoin) for Corporations: A specialized event series focused on educating corporate executives and investors on the strategic and practical aspects of incorporating [Bitcoin](https://iq.wiki/wiki/bitcoin) into a company's balance sheet. This event directly supports the company's [Bitcoin](https://iq.wiki/wiki/bitcoin) treasury mission by promoting its adoption among other businesses. [\\[1\\]](#cite-id-PErFF8cKzZ)","summary":"Strategy, formerly MicroStrategy, is a public company (NASDAQ: MSTR) with a dual focus. It provides AI-powered enterprise analytics software and is the world's ...","images":[{"id":"QmVt4b2W8qwEiLg15L5v7QEvYJNFMEm6kWBT9S9ro5RaNW","type":"image/jpeg, image/png"}],"categories":[{"id":"organizations","title":"Organizations"}],"tags":[{"id":"Founders"},{"id":"Organizations"}],"media":[{"id":"QmarCAG3qnzon4Y4ZxmuHrNSpMwSks26dG8DvmL5bJkiwj","size":null,"name":null,"type":"GALLERY","source":"IPFS_IMG"},{"id":"QmUXLbK3XF938VCXVGv1xRAv9ygK3d1zYUd7oBgoJ3qdXA","size":null,"name":null,"type":"GALLERY","source":"IPFS_IMG"}],"metadata":[{"id":"website","value":"https://www.strategy.com/"},{"id":"twitter_profile","value":"https://x.com/Strategy"},{"id":"references","value":"[{\"id\":\"PErFF8cKzZ\",\"url\":\"https://www.strategy.com/company\",\"description\":\"Strategy company overview\",\"timestamp\":1760543865267},{\"id\":\"l7tywvDDcY\",\"url\":\"https://x.com/Strategy\",\"description\":\"Official company X profile\",\"timestamp\":1760543865267},{\"id\":\"zJAB0dP896\",\"url\":\"https://www.strategy.com/\",\"description\":\"Strategy financial data dashboard\",\"timestamp\":1760543865267},{\"id\":\"4xV4eivJAW\",\"description\":\"X - Michael Saylor\",\"timestamp\":1760544974621,\"url\":\"https://x.com/saylor\"},{\"id\":\"Lg30cwRaJ2Px8Um6\",\"url\":\"https://www.strategy.com/press/strategy-acquires-10624-btc-and-now-holds-660624-btc\\\\_12-08-2025\",\"description\":\"Strategy press release on Dec. 8, 2025 acquisition\",\"timestamp\":1765212975617},{\"id\":\"vwoYyxqwxH4S5Etu\",\"url\":\"https://x.com/Strategy/status/1998015602888434122\",\"description\":\"Strategy on X, Dec. 8, 2025\",\"timestamp\":1765212975617}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmTTrfjoFjenm2bAr1tugptsDMpqfCaB3Yw99c2QbvmLJS\""},{"id":"commit-message","value":"\"Updated wiki content\""},{"id":"previous_cid","value":"QmTTrfjoFjenm2bAr1tugptsDMpqfCaB3Yw99c2QbvmLJS"}],"events":[{"id":"70bb9c93-affd-406a-98dd-4126acde0881","date":"1989-01-01","title":"Founded as MicroStrategy","type":"CREATED","description":"Founded by Michael Saylor as MicroStrategy, the company began its 35+ year history in the enterprise software industry.","link":null,"multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"57a9e5e9-2bee-4a2b-98ab-e1973917371e","date":"2025-02-01","title":"Rebranded to Strategy","type":"DEFAULT","description":"The company officially rebranded from MicroStrategy to Strategy, simplifying its name to reflect its dual focus on software and its Bitcoin treasury.","link":"https://x.com/Strategy/status/1756700181521305881","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"ac4579f7-d756-4ee3-a9dc-333b3f2edd16","date":"2025-10-01","title":"Acquired 220 Additional BTC","type":"DEFAULT","description":"Announced the acquisition of an additional 220 BTC, bringing its total holdings to 640,250 BTC at an average purchase price of ~$74,000 per bitcoin.","link":"https://x.com/Strategy/status/193424181521305881","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8AF7a19a26d8FBC48dEfB35AEfb15Ec8c407f889"},"operator":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb"},"language":"en","version":1,"linkedWikis":{"blockchains":["bitcoin"],"founders":[],"speakers":[]},"recentActivity":"{\"items\":[{\"id\":\"b176cc3a-3e5e-47c4-beba-083c3e1166f8\",\"title\":\"Strategy\",\"description\":\"Strategy, formerly MicroStrategy, is a public company (NASDAQ: MSTR) with a dual focus. It provides AI-powered enterprise analytics software and is the world's ...\",\"timestamp\":\"2025-12-08T17:00:47.728Z\",\"category\":\"Wiki Update\",\"status\":{\"icon\":\"RiGlobalLine\",\"label\":\"Wiki Updated\",\"iconClassName\":\"text-green-500\"},\"user\":{\"name\":\"0x8AF7a19a26d8FBC48dEfB35AEfb15Ec8c407f889\",\"address\":\"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb\"},\"button\":{\"label\":\"View Summary\",\"icon\":\"RiFileTextLine\"},\"summarySections\":[{\"title\":\"Title\",\"subtitle\":\"The wiki title was updated.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Changed title from \\\"organizations\\\" to \\\"Organizations\\\".\"]},{\"title\":\"Summary\",\"subtitle\":\"The summary text was updated.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Modified the summary text.\"]},{\"title\":\"Bitcoin Treasury Strategy\",\"subtitle\":\"The Bitcoin treasury holdings and acquisition details were updated with new information from December 2025.\",\"variant\":\"modified\",\"changeCount\":5,\"changes\":[\"Replaced a previous acquisition announcement with a new one for the purchase of 10,624 BTC on December 8, 2025. [[5]](#cite-id-Lg30cwRaJ2Px8Um6) [[6]](#cite-id-vwoYyxqwxH4S5Etu)\",\"Updated total Bitcoin holdings to 660,624 BTC. [[5]](#cite-id-Lg30cwRaJ2Px8Um6) [[6]](#cite-id-vwoYyxqwxH4S5Etu)\",\"Updated total acquisition cost to approximately $49.35 billion. [[5]](#cite-id-Lg30cwRaJ2Px8Um6) [[6]](#cite-id-vwoYyxqwxH4S5Etu)\",\"Updated the overall average purchase price to approximately $74,696 per bitcoin. [[5]](#cite-id-Lg30cwRaJ2Px8Um6) [[6]](#cite-id-vwoYyxqwxH4S5Etu)\",\"Updated the \\\"BTC Yield of 2025\\\" from 25.9% to 24.7%. [[6]](#cite-id-vwoYyxqwxH4S5Etu)\"]},{\"title\":\"Events\",\"subtitle\":\"The date format for multiple events was standardized.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Updated date format from YYYY-MM to YYYY-MM-DD for several events.\"]},{\"title\":\"References\",\"subtitle\":\"References were updated to reflect new company announcements.\",\"variant\":\"modified\",\"changeCount\":3,\"changes\":[\"Removed reference \\\"Strategy Acquires 220 BTC\\\".\",\"Added reference for \\\"Strategy press release on Dec. 8, 2025 acquisition\\\".\",\"Added reference for \\\"Strategy on X, Dec. 8, 2025\\\".\"]}]}]}"}