MSTR Stock

Strategy released its third-quarter earnings and reported a year-to-date Bitcoin yield of 26%, generating $12.9 billion in gains amid the ongoing 2025 crypto bull market.

A deep dive into the three strategic models emerging in corporate Bitcoin treasury companies, from pure-play credit issuers to hybrid operators, based on Michael Saylor’s latest thinking.

Strategy (MSTR) shares fell 3.6% to $319.84 as Bitcoin’s 2% decline dragged down crypto-related stocks.

Bitcoin treasury companies can no longer rely on holdings alone to stand out. Jurisdiction, capital strategy, and leadership now define shareholder trust and mNAV.

Strategy (MSTR) engineered a multi-layer capital stack to accelerate Bitcoin accumulation—tailoring instruments to raise capital without compromise.

Strategy (MSTR)’s Q1 call revealed 8 capital strategies—from BTC yield to fixed income tools—reshaping how companies run a Bitcoin treasury.