Strategy Inc, is a bitcoin treasury company in the United States, Europe, the Middle East, Africa, and internationally. The company is headquartered in Tysons Corner, Virginia.
| Revenue (TTM) | $498.35M |
| Gross Profit (TTM) | $336.89M |
| EBITDA | $-36.35B |
| Operating Margin | -6808.00% |
| Return on Equity | -63.60% |
| Return on Assets | -38.70% |
| Revenue/Share (TTM) | $1.57 |
| Book Value | $83.12 |
| Price-to-Book | — |
| Price-to-Sales (TTM) | — |
| EV/Revenue | - |
| EV/EBITDA | — |
| Quarterly Earnings Growth (YoY) | 0.00% |
| Quarterly Revenue Growth (YoY) | 6.90% |
| Shares Outstanding | 0 |
| Float | $363.63M |
| % Insiders | 0.00% |
| % Institutions | 41.66% |
Volatility is currently contracting
Strategy (MSTR) is shifting its preferreds—STRK, STRF, STRD, STRC—to daily dividends, aiming to mask volatility and adapt to rising rates. STRK stands out as the only Buy, offering seniority, capital protection, and BTC upside, while STRC provides higher current yield but greater risk. STRC's heavy issuance increased MSTR's leverage, raising solvency concerns and prompting buybacks funded by BTC sales.
The collapse of MSTR and its universe of preferred shares has raised existential risks from a Bitcoin dip spiral. MSTR's market-adjusted net asset value has fallen to 0.99x, a level that limits its ability to purchase BTC through issuing new shares. While STRF is cumulative, which limits the risk of a coupon suspension, a BTC negative dip spiral and decline in MSTR's USD reserve coverage to 9.8 months poses a threat.
Michael Saylor's STRC stock has made headlines this week as its implosion gained momentum amid the ongoing crypto market weakness. The Variable Rate Series A Perpetual Stretch Preferred Stock plunged from the par level of $100 to a record low of $72.60.
Strategy offers four perpetual preferred shares ('STRXs') targeting high-yield investors seeking Bitcoin exposure without direct crypto ownership. I rate STRF and STRD a BUY for their 10%+ yields, with STRF offering top liquidation priority and STRD higher yield but greater risk. I rate STRK a BUY for Bitcoin holders desiring income with potential equity upside through convertibility into MSTR common stock.
Tiblio connects your broker and runs your put-and-call-writing strategy for you — on STRK and any ticker you trade — then tracks every position and per-strategy win rate.
