What Is Strategy (MSTR)? The Bitcoin Treasury Company

In brief

• Formerly software firm MicroStrategy, Strategy transitioned to a Bitcoin treasury company model after adopting BTC as its primary reserve asset at the behest of co-founder and chair Michael Saylor
• Strategy has sold 6,948 BTC for roughly $432.5 million since May, abandoning its "never sell Bitcoin" stance in favour of a goal to "never be a net seller."
• It now holds two separate pools of dollars alongside its Bitcoin: a USD Reserve ring-fenced for dividends and interest, and an unrestricted USD Cash account that can be spent on anything, including buying more Bitcoin.

Today, Strategy is one of the most important institutions in cryptocurrency, but it didn't start out that way.

Originally called MicroStrategy, the company co-founded by Michael Saylor—one of the most influential figures in the world of Bitcoin—first made its mark in software. Now it's best known for its aggressive strategy of acquiring Bitcoin for its corporate reserves, with Saylor becoming a figurehead for institutional adoption of the asset.

What is Strategy?

Before it added Bitcoin to its balance sheet, Strategy was best known for business intelligence software designed to help companies analyze data for better decision making.