MicroStrategy (MSTR)
Technology · Bitcoin treasury company and enterprise analytics software
Bitcoin treasury company combining the world's largest corporate bitcoin holdings with an AI-powered enterprise analytics software business.
What MicroStrategy does
Strategy Inc (formerly MicroStrategy) is the world's largest corporate holder of bitcoin, with approximately 717,131 bitcoins held as a core treasury reserve asset. The company pursues financial innovation strategies to generate value from its bitcoin holdings, including developing and issuing novel fixed-income instruments that provide investors varying degrees of economic exposure to bitcoin. In parallel, Strategy operates as an industry leader in AI-powered enterprise analytics software. The company's capital structure increasingly centers on bitcoin-backed financing and preferred stock issuances ("digital credit" instruments).
Themes: ["Bitcoin / digital assets treasury","Corporate bitcoin accumulation","Financial innovation / structured finance","AI analytics software","Enterprise intelligence","Preferred stock / fixed income","Capital markets strategy"]
Fundamentals
- Price$93.89 as of 2026-07-09 close
- Market cap$33.7B as of 2026-07-10
- 1-year return-77.4% as of 2026-07-09 close
- Net margin-2482.0% as of 2026-07-10
- Gross margin+68.1% as of 2026-07-10
- ROE-23.7% as of 2026-07-10
- Debt / equity0.18 as of 2026-07-10
- Revenue growth (YoY)+6.8% as of 2026-07-10
- Revenue CAGR (3y)-1.5% SEC XBRL
- Beta3.59 as of 2026-07-10
Dividend: yield +1.8%; pays a dividend.
Key risks (from latest filing)
["Extreme profitability deterioration: net margin of -2482% driven by $14.5B unrealized loss on digital assets in Q1 2026; company posted net loss of $12.5B, creating severe balance sheet pressure.","Massive bitcoin price exposure: 717,131 bitcoins held at average cost of $76,027/bitcoin but market price $68,734 as of Feb 2026; significant mark-to-market losses and dependence on bitcoin appreciation for financial sustainability.","Complex capital structure with escalating preferred stock obligations: issued five classes of perpetual preferred stock with dividend rates of 8-10%, creating substantial fixed obligations that may strain cash reserves as preferred dividends accrue (e.g., $48.2M preferred dividends payable as of Q1 2026)."]
Competitors & peers
- Grayscale Bitcoin Mini Trust (BTC)
- ProShares Bitcoin ETF (BITO)
- iShares Bitcoin Trust (IBIT)
- Tableau (CRM)
- Looker (GOOGL)
- Power BI (MSFT)
- Palantir (PLTR)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.