You might also like
MicroStrategy Incorporated (Nasdaq: MSTR) is a publicly-traded company that operates as both a Bitcoin development company and a provider of enterprise analytics software. The company is dedicated to advancing the Bitcoin network by accumulating Bitcoin as its primary treasury reserve asset, while also offering AI-powered analytics software to help organizations make data-driven decisions. MicroStrategy's dual focus on Bitcoin and enterprise analytics positions it as a leader in both blockchain innovation and business intelligence solutions.
- Product Support - Provides ongoing support and maintenance services for enterprise analytics software, ensuring customers can maximize the value of their technology investments.
- Product Licenses and Subscription Services - Offers software licenses and cloud-based subscription services for its AI-powered analytics platform, enabling organizations to deploy and scale business intelligence solutions.
- Other Services - Delivers consulting and education services to help clients implement and optimize their use of MicroStrategy's analytics software.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Andrew Kang Executive | Senior Executive Vice President & CFO | Board of Trustees at The Schenck School | Andrew Kang joined MicroStrategy in May 2022. He has over 20 years of experience in accounting, treasury, and capital markets, previously serving as CFO at Greensky, Inc. | |
Jeanine Montgomery Executive | Vice President & Chief Accounting Officer | None | Jeanine Montgomery is the Chief Accounting Officer at MicroStrategy. No additional details about her tenure or achievements are provided in the documents. | |
Phong Le Executive | President & Chief Executive Officer | None | Phong Le joined MicroStrategy in August 2015 and became CEO in August 2022. He has led the company’s Bitcoin strategy and executed a $42 billion capital plan. | |
W. Ming Shao Executive | Executive Vice President & General Counsel | None | W. Ming Shao is the General Counsel at MicroStrategy. No additional details about his tenure or achievements are provided in the documents. | |
Brian Brooks Board | Director | Chairman & CEO at Meridian Capital Group | Brian Brooks joined the MicroStrategy Board in December 2024. He has extensive experience in digital assets and regulatory matters, previously serving as Acting Comptroller of the Currency and CEO of Bitfury Group. | |
Carl J. Rickertsen Board | Independent Director | Managing Partner at Pine Creek Partners LLC; Board Member at Berry Global Inc. and Hut 8 Corp. | Carl J. Rickertsen has been a director at MicroStrategy since 2002. He has extensive experience in finance and capital markets and serves on multiple boards, including Berry Global Inc. and Hut 8 Corp. | |
Gregg Winiarski Board | Director | None | Gregg Winiarski joined the MicroStrategy Board in December 2024. He previously served as Chief Legal Officer at Fanatics Holdings, Inc. and General Counsel at IAC, Inc. | |
Jane Dietze Board | Director | Chief Investment Officer at Brown University; Board Member at Galaxy Digital | Jane Dietze joined the MicroStrategy Board in December 2024. She has a background in endowment management and private equity, currently serving as CIO at Brown University and a director at Galaxy Digital. | |
Jarrod M. Patten Board | Independent Director | Chairman of the Board at Core Scientific, Inc. | Jarrod M. Patten has been a director at MicroStrategy since 2004. He is the CEO of RRG, a global real estate consulting firm, and serves as Chairman of the Board at Core Scientific, Inc. | |
Leslie Rechan Board | Independent Director | Board Advisor at Lorica Cybersecurity; CEO of Rechan Consulting Group LLC | Leslie Rechan joined the MicroStrategy Board in 2018. He has expertise in corporate strategy and enterprise software and serves as a board advisor at Lorica Cybersecurity and CEO of Rechan Consulting Group LLC. | |
Michael J. Saylor Board | Executive Chairman | None | Michael J. Saylor is the founder of MicroStrategy and has been with the company since 1989. He transitioned from CEO to Executive Chairman in August 2022, focusing on long-term strategy and Bitcoin initiatives. | |
Stephen X. Graham Board | Independent Director | President of CrossHill Financial Group, Inc. | Stephen X. Graham has been a director at MicroStrategy since 2014. He is the President of CrossHill Financial Group and has extensive experience in finance, corporate governance, and operational controls. |
- Given the significant increase in leverage to acquire bitcoin, how do you plan to manage the financial risks associated with bitcoin's volatility, especially in the event of a substantial price decline?
- With the introduction of Strike and its 8% fixed dividend, can you elaborate on the sustainability of this dividend payment, particularly if capital markets conditions change or bitcoin prices fluctuate?
- The adoption of FASB's fair value accounting standard led to a one-time cumulative increase in retained earnings; how might future bitcoin price volatility impact your financial statements under this new accounting treatment?
- You have set a BTC yield target of 15% for 2025; what specific strategies will you employ to achieve this target, and what assumptions are you making about bitcoin market conditions and capital raising efforts?
- As you shift focus towards bitcoin treasury activities, how do you plan to maintain and grow your core software business to ensure it continues contributing meaningfully to the company's overall performance?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes in the enterprise analytics market, which is highly competitive and subject to rapidly changing technology and market conditions. Factors influencing competition include software quality, performance, reliability, service and support quality, marketing effectiveness, and the ability to incorporate advanced features like artificial intelligence. | |
Competes in the enterprise analytics market, which is highly competitive and subject to rapidly changing technology and market conditions. Factors influencing competition include software quality, performance, reliability, service and support quality, marketing effectiveness, and the ability to incorporate advanced features like artificial intelligence. | |
Competes in the enterprise analytics market, which is highly competitive and subject to rapidly changing technology and market conditions. Factors influencing competition include software quality, performance, reliability, service and support quality, marketing effectiveness, and the ability to incorporate advanced features like artificial intelligence. | |
Competes in the enterprise analytics market, which is highly competitive and subject to rapidly changing technology and market conditions. Factors influencing competition include software quality, performance, reliability, service and support quality, marketing effectiveness, and the ability to incorporate advanced features like artificial intelligence. | |
Competes in the enterprise analytics market, which is highly competitive and subject to rapidly changing technology and market conditions. Factors influencing competition include software quality, performance, reliability, service and support quality, marketing effectiveness, and the ability to incorporate advanced features like artificial intelligence. | |
Faces regulatory scrutiny, including enforcement actions by the SEC, which could impact the broader digital assets industry. | |
Binance Holdings Ltd. | Faces regulatory scrutiny, including enforcement actions by the SEC, which could impact the broader digital assets industry. |
FTX Trading | Involved in bankruptcy proceedings, which could influence the digital assets industry and investor confidence. |
Recent press releases and 8-K filings for MSTR.
- ATM Offering Updates: The company provided details on its at‐the‐market programs for Class A common stock and 8.00% Series A preferred stock with net proceeds of $547.7 million and $7.8 million respectively as of April 20, 2025.
- Bitcoin Transactions: The filing discloses bitcoin purchases of 6,556 BTC for an aggregate price of $555.8 million with reported holdings of 538,200 BTC as of April 20, 2025.
- Regulatory Disclosure: The Form 8-K, filed on April 21, 2025, also confirms updates on the company’s public dashboard and compliance with Regulation FD.
- ATM Update: The company disclosed updates to its at‐the‐market programs, including the sale of 959,712 common shares and net proceeds of approximately $285.7 million, with available issuance of $2.08 billion in shares (documents ).
- Bitcoin Holdings Update: The report provided details on bitcoin purchases, noting an acquisition of 3,459 bitcoins at an aggregate cost of around $285.8 million and updated figures on aggregate holdings (documents ).
- The company completed multiple capital-raising transactions totaling $7.69 billion, including a STRK Registered Underwritten Offering generating approximately $563.3 million, a STRF Registered Offering for about $711.2 million, and a MSTR ATM that raised roughly $4.4 billion.
- Additionally, a 2030B Convertible Notes Private Offering raised approximately $1.99 billion, and all outstanding 2027 Convertible Notes were fully converted or redeemed, streamlining the debt structure.
- The update also noted remaining sales capacity with nearly $20.97 billion available under the STRK ATM and about $2.37 billion under the MSTR ATM, alongside updates to the outstanding Class A/B common stock and preferred shares.
- ATM program updates announced include the sale of 3,645,528 MSTR shares via the common ATM, generating net proceeds of approximately $1.20 billion, and updates for the STRK ATM program as detailed in the report.
- The company completed its STRF Offering of 8,500,000 shares of its 10.00% Series A Perpetual Strife Preferred Stock at a price of $85.00 per share, expecting net proceeds of about $711.2 million.
- Bitcoin acquisition updates show that 22,048 BTC were purchased at an aggregate cost of $1.92 billion, with current holdings totaling 528,185 BTC.
- MicroStrategy has issued 8,500,000 shares of a new class of preferred stock titled 10.00% Series A Perpetual Strife Preferred Stock in a public offering registered under the Securities Act.
- The new preferred stock offers cumulative dividends at a 10.00% annual rate on a $100 per share liquidation preference, with dividends payable quarterly and compounded if not paid.
- The issuance includes detailed provisions on dividend deferral, redemption rights upon a fundamental change, and adjustments to the liquidation preference based on market pricing.
- Common Stock ATM Update: The company sold 1,975,000 MSTR Shares under its Common ATM for approximately $592.6 million in net proceeds, leaving about $3.57 billion available for future issuances.
- Preferred Stock ATM Update: It sold 13,100 STRK Shares under its STRK ATM for net proceeds of approximately $1.1 million, with an availability of around $20.99 billion remaining.
- Bitcoin Transactions: The firm acquired about 6,911 bitcoins at an average price of $84,529 per bitcoin (inclusive of fees) and currently holds approximately 506,137 bitcoins, with an aggregate purchase cost of roughly $33.7 billion.
- Offering Details: The company priced 8,500,000 shares of its 10.00% Series A Perpetual Strife Preferred Stock at $85.00 per share with settlement scheduled for March 25, 2025.
- Net Proceeds & Use: The offering is expected to yield approximately $711.2 million in net proceeds, which will be used for general corporate purposes including the acquisition of bitcoin and working capital.
- Dividend Structure: The preferred stock will pay cumulative dividends at 10.00% per annum on a stated value of $100 per share with additional compounded dividends if regular payments are missed.
- MicroStrategy Inc. announced its intent to offer 5,000,000 shares of its Series A Perpetual Strife Preferred Stock, with net proceeds targeted for general corporate purposes including the acquisition of bitcoin and working capital.
- The offering features cumulative dividends at a fixed 10.00% per annum rate, with quarterly cash dividend payments and provisions for compounded dividends in the event of non-payment, along with specific redemption rights.
- STRK Preferred Stock Offering: Between March 10 and March 16, 2025, no common stock was sold under the ATM program, while the company sold 123,000 STRK Shares for net proceeds of approximately $10.7 million with roughly $20.99 billion still available for issuance.
- Bitcoin Transactions: During the same period, the company acquired approximately 130 bitcoins for around $10.7 million at an average price of about $82,981 per bitcoin, bringing the total bitcoin holdings to approximately 499,226 bitcoins acquired at an aggregate price of about $33.1 billion.
- MicroStrategy launched an at-the-market program to issue and sell its 8.00% Series A Perpetual Strike Preferred Stock with an aggregate offering price of up to $21.0 billion.
- The company will use the net proceeds from the program for general corporate purposes, including bitcoin acquisitions and working capital.
- The preferred stock is convertible into Class A common stock, providing investors a potential equity conversion option.