.svg){kind=logo} Logo used since 2025 | |
| Strategy | |
| Formerly | MicroStrategy Incorporated (1989-2025) |
| Company type | Public |
| Industry |
|
| Founded | 1989; 37 years ago (1989) |
| Founders |
|
| Headquarters | Tysons Corner, Virginia, U.S. |
Key people |
|
| Revenue |  US$463.5 million (2024) |
| US$−1.167 billion (2024) | |
| Total assets |  US$54.7 billion (2024)(92.5%: 447,470 Bitcoin = US$52.8 billion (Book value)) |
| Total equity | US$18.23 billion (2024) |
Number of employees | 1,934[2] (2023) |
| ASN | 13410 |
| Website | |
| Footnotes / references [3] | |
Strategy Inc., formerly known asMicroStrategy,[1] is an American company that providesbusiness intelligence (BI) and mobile software. Founded in 1989 byMichael J. Saylor,Sanju Bansal, and Thomas Spahr, the firm develops software to analyze internal and external data in order to make business decisions and to develop mobile apps. It is apublic company headquartered inTysons Corner, Virginia, in theWashington metropolitan area.[4] Its primary business analytics competitors includeSAP SEBusiness Objects,IBMCognos, andOracle Corporation's BI Platform.[5][6] Saylor is the executive chairman and, from 1989 to 2022, was the CEO.[7][8][9]
Since 2020, the company's securities are widely considered to be abitcoin proxy due to MicroStrategy's holdings of thecryptocurrency. Saylor has compared it to a bitcoinspotleveraged ETF,[9] though it's not a regulatedinvestment fund.
As of November 17, 2025, Strategy was reported to own over 650,000 bitcoins, worth roughly $59.69 billion, and is the largest corporate holder of the asset.[10] This strategy has primarily been driven by Saylor.[11] According to data from blockchain analytics companyArkham Intelligence, MicroStrategy is the sixth largest crypto-holding entity in the world as of December 2024.[12]
Saylor started MicroStrategy in 1989 with a consulting contract fromDuPont, which provided Saylor with $250,000 in start-up capital and office space inWilmington, Delaware. Saylor was soon joined by company co-founderSanju Bansal, whom he had met while the two were students atMassachusetts Institute of Technology (MIT).[13] The company produced software fordata mining andbusiness intelligence usingnonlinear mathematics,[7] an idea inspired by a course on systems-dynamics theory that they took at MIT.[14]
In 1992, MicroStrategy gained its first major client when it signed a $10 million contract withMcDonald's. It increased revenues by 100% each year between 1990 and 1996.[13] In 1994, the company's offices and its 50 employees moved from Delaware toTysons Corner, Virginia.[15]
On June 11, 1998, MicroStrategy became apublic company via aninitial public offering. The company sold 36 million shares of its common stock, each share priced at $6, under the stock ticker "MSTR" on theNASDAQ stock exchange.[16]
In 2000, MicroStrategy foundedAlarm.com as part of itsresearch and development unit.[17]
On March 20, 2000, after a review of its accounting practices, MicroStrategy announced that it would restate its financial results for the preceding two years.[18] Its stock price, which had risen from $7 per share to as high as $333 per share in a year, fell to $120 per share, or 62%, in a day in what is regarded as the bursting of thedot-com bubble.[19]
Following MicroStrategy Inc.'s March 20, 2000 announcement that it had significantly overstated its 1998 and 1999 revenues, approximately two dozen class action securities fraud actions were filed in the United States District Court for the Eastern District of Virginia against MicroStrategy.[20] In December 2000, theU.S. Securities and Exchange Commission brought charges against the company and its executives.[21] A lawsuit was subsequently filed against MicroStrategy and certain of its officials over fraud.[22] In December 2000, Saylor, Bansal, and the company's formerCFO settled with the SEC without admitting wrongdoing, each paying $350,000 in fines. The officers also paid a combined total of $10 million indisgorgement. The company settled with the SEC, hiring an independent director to ensure regulatory compliance.[23][24]
In February 2009, MicroStrategy sold Alarm.com toventure capital firmABS Capital Partners for $27.7 million.[17] The company introducedOLAP Services with a shared data set cache to accelerate reports and ad hoc queries.[25] In 2010, the company began developing and deploying business intelligence software for mobile platforms, such as theiPhone andiPad.[26]
In 2011, MicroStrategy expanded its offerings to include a cloud-based service, MicroStrategy Cloud.[27]
In 2013, MicroStrategy soldAngel toGenesys Telecommunications Laboratories for $110 million.[28][29]
In August 2022, the attorney general for theDistrict of Columbia sued Saylor for tax fraud, accusing him of illegally avoiding more than $25 million in D.C. taxes by pretending to be a resident of other jurisdictions. MicroStrategy was accused of collaborating with Saylor to facilitate histax evasion by misreporting his residential address to local and federal tax authorities and failing to withhold D.C. taxes.[30] MicroStrategy said the case is "a personal tax matter involving Mr. Saylor" and called the claims against the company "false" and it would "defend aggressively against this overreach."[31] In June 2024, Saylor and MicroStrategy reached a $40 million settlement agreement with the District of Columbia.[32]
Saylor resigned as CEO effective August 8, 2022. Phong Le, who had been president, succeeded him. Saylor remains the executive chairman of MicroStrategy. In a press release announcing the transition, Saylor said that he would focus on the company's bitcoin acquisition strategy and that Phong would manage overall corporate operations.[9]
In August 2020, MicroStrategy invested $250 million inbitcoin as a treasury reserve asset, citing declining returns from cash, a weakening dollar, and other globalmacroeconomic factors.[33][34] The company went on to make several additional large purchases of bitcoin; in September 19, 2022, MicroStrategy and its subsidiaries held approximately 130,000 BTC, acquired at an aggregate purchase price of $3.98 billion at an average purchase price of $30,639 per bitcoin.[35] Executive chairman Saylor has been described as working to "funnel nearly all of Strategy’s available funds" into Bitcoin.[11]
On the company's quarterly earnings call on May 3, 2022, MicroStrategy CFO Phong Le stated that the company would face amargin call if bitcoin's price fell to about $21,000. A margin call would obligate the company to sell some of its bitcoin holdings. Le stated that the company could add more collateral to its loan to avoid such a situation.[36] After bitcoin's price fell to about $20,800 in June 2022, the company said that it had not received a margin call and that it had enough capital to withstand furthervolatility.[37] On December 22, 2022, MicroStrategy sold 704 BTC, which represented their first time selling any bitcoin, for an amount of around $11.8 million.[38]
On September 25, 2023, MicroStrategy announced that, during the period between August 1, 2023, and September 24, 2023, MicroStrategy and its subsidiaries acquired 5,445 bitcoins for $147.3 million in cash, at an average price of $27,053 per bitcoin, inclusive of fees and expenses.
As of December 8, 2024, MicroStrategy was reported to own 423,650 bitcoins, worth $42.43 billion, and is the largest corporate holder of the asset. Like other cryptocurrency treasury firms, MicroStrategy doesn’t give investors on-chain data that would allow public verification of its reserves.[39] MicroStrategy purchased 149,880 bitcoins in the month beginning on November 11, 2024.[40] On the strength of this asset, MicroStrategy was included in theNasdaq-100 effective December 23, 2024.[41]
A further 4,225 bitcoins were acquired between July 7–13, 2025 for $472.5M at an average price of $111,827 per Bitcoin.[42]
Strategy has launched four credit instruments in the second and third quarter of 2025 worth $4 billion, with more to come. Michael Saylor told Bloomberg that these are high-yield perpetual securities aiming to reduce bitcoin volatility and risk for investors.[43]
In late November 2025Forbes reported that the shares of Strategy had dropped by 60% compared to the previous year, with its market capitalization down to $49 billion, which was below the value of the $56 billion in bitcoin it was holding at the same time.[44] This was followed by a statement from Strategy CEO Phong Le about a potential sell of bitcoins by Strategy, which market observers saw as a contributing factor in a drop of bitcoin price below $86,000 in early December 2025.[45]
| MicroStrategy Analytics | |
|---|---|
 | |
| Developer | MicroStrategy |
| Stable release | |
| Operating system | Microsoft Windows,Linux,AIX (no longer supported),Solaris (no longer supported) |
| Type | Business intelligence |
| License | Trialware |
| Website | www |
MicroStrategy 2020 is the latest platform release of the company's business intelligence software.[47]
MicroStrategy 2019, the prior platform release, attempted to improve connectivity to data sources and applications and allow for easier mobile application development. it also offered Bluetooth identity detection and voice.[48][46][49] The earlier suite of software, MicroStrategy 10, consisted of MicroStrategy Analytics, MicroStrategy Mobile, and Usher. MicroStrategy 10.10, released in December 2017, added MicroStrategy Workstation.[50] It uses business intelligence andpredictive analytics to search through and perform analytics onbig data from a variety of sources, includingdata warehouses,Excel files, andApache Hadoop distributions.[51]
MicroStrategy Mobile, introduced in 2010, incorporates analytics capabilities to apps foriPhone,iPad,Android, andBlackBerry.[52]
Usher is a digital credential and identity intelligence product for organizations to control digital and physical access. It replaces physical badges and passwords with securedigital badges, and generates information on user behavior and resource usage.[53][54]
| People |
|  | |||
|---|---|---|---|---|---|
| Lists | |||||
| Technologies | |||||
| Forks |
| ||||
| History | |||||
| Movies |
| ||||
| Legal entities (not exchanges) | |||||
| Bitcoin in El Salvador | |||||
