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High performing, high performance people

Metaphorical steroid injections

The photos you shot today are your best photos 

Don’t focus on the tech, focus on the features and use cases

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Energy , intelligence, bitcoin

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Don’t be a little B, be a true mensch.

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Not just micro

Strategy.com

Strategysoftware.com

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FASB, fair value accounting

Nasqdaq 100

Accounting standards

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Capital markets activities

ETP

18.5B raise

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471,107 BTC

584M vs STRK

outperform Bitcoin via intelligent leverage ***

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EXTREME TOLERANCE

Convertible preferred stock

STRK

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FEB 6, STRK

Highly liquid equity

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Volatile & liquid commodity

8% coupon,

7.3 M vs 2.5M, upsized

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$22.6B raised in 2024,

Picking up heat!

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$10B in 4 years … now 22.6B one year!

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BTC

UNIQUE VALUE PROPOSITION

$21.7B equity issued

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$31B capital raises to increase bitcoin holdings

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Innovation in bitcoin investments

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Fixed income, equity, cash

More to come

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$8.6B total debt issued

Continue seeking to innovate with fixed income

Common stock issuances

Classic common stock, accretive to existing shareholders

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$836M cash invest from software company

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Equity, 4.3B remaining from total $21B

Fixed income, incoming more

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Andrew Kang

+48% YOY, subscription revenue up

Subscription billing up +57% YOY

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New customer wins

Fully to cloud

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218,800 bitcoins acquired in Q4!

Q4 almost 2x!

50+ announcements

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12.7B$ profit!

Market value vs carrying value

Fair value

Strong market conditions

16.7B sold equity , activity modest 2.9% daily trading value for MSTR

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Disciplined

$672 per share! Dec 2029… 4 years from now

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Capital structure, expanding

Debt coverage ratio

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15x coverage

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750 years for STRK dividends

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$58M a year

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Leverage, deleverage

BTC gain, BTC $ Gain

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140,538 BTC Gain

$13.1B BTC $ gain

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74.3% BTC YIELD 2024

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15% BTC YIELD. $10B BTC dollar gain target

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Tie in identity

6-8% ARR gold, real estate

14% SP

29% mag 7

2,718% MSTR vs
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963% Nvidia

More than 2x Nvidia?

717% performance, 4 years

2,718% performance

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100% performance out perform

Bitcoin is 99%

89% volatility. MSTR is more volatile

Volatility is Energy!

More energy!

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I need more energy! More MSTR?

MSTR has more energy than Bitcoin?

Liquidity, optionality

Fast hot money

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Deepest options pool

I NEED MORE ENERGY!

Convert 75%, BTC as 64%

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Gaining more energy

27x MSTR vs 7x! More than 3x. Almost 4x Bitcoin?

Bitcoin Maxi.

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Don’t you want greater performance, greater energy?

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50-60 vol, 80-90 vol

We want more volatility!

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Why does more volatility have greater performance

Doesn’t everyone want greater performance?

1400 pounds over 1000 pounds?

Perpetual dividend!

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Perpetual dividend

Perpetual call option
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More accretive is more good

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Intelligent leverage, BTC leverage, BTC gain

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Every minute second of the day!

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Quad reflexive

Reflexive

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Bigger cushion?

Lever up! ***

More leverage is more good!

Bigger targets ,,, 10x higher?

Greater yield, greater gain

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I must always gain more energy!

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Choose your multiple! ***

How high do I want my multiple to be?

10x?

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$2M to $200M?

100x gain desire –?

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$2M to $20M?

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BTC gain –> amount of BTC we gain in not dilutive manner

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Don’t think BTC loss

BTC GAIN –> share holder value creator, in BTC terms,,,,

$10B BTC dollar gain in 2025

1.24B in YTD,,, 10x from here?

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$100k to $200k ,,, 2x

Or .,, $350 to $3,500 … 10x in a year?

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What are you made for?

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For myself –> I was made for volatility?

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Strategy swag!

Extremely accretive

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STRK small right now ,,, but will get bigger!

Meet obligations

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$20B in capital

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Participate! ***

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I was made for investing?

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$100,000 loss ain’t a big deal

StrategyB

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In the event

Second order impact

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Arbitrage

5-15% against Bitcoin

Why is it still raining?

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10,000 unique attendees

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Strategy World

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