Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 24

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 24
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 or published guidance for our bitcoin strategy, capital plan, and 
 financial results;                                                                                                |

| • |     | announcement of additional capital raising transactions; |

| • |     | regulatory, commercial and technical developments related to bitcoin or the Bitcoin blockchain; |

| • |     | quarterly variations in our results of operations or those of our competitors; |

| • |     | announcements about our earnings that are not in line with analyst expectations, the likelihood of which may be             
 enhanced because it is our policy not to give guidance relating to our anticipated financial performance in future periods; |

| • |     | announcements by us or our competitors of acquisitions, dispositions, new offerings, significant contracts, 
 commercial relationships, or capital commitments;                                                           |

| • |     | our ability to develop, market, and deliver new and enhanced offerings on a timely basis; |

| • |     | commencement of, or our involvement in, litigation; |

| • |     | recommendations by securities analysts or changes in earnings estimates and our ability to meet those estimates; |

| • |     | investor perception of us, including as compared to investment vehicles that are designed to track the price of                                                  
 bitcoin, such as spot bitcoin exchange-traded products, and other companies that pursue strategies similar to ours of acquiring bitcoin or other digital assets; |

| • |     | announcements by our competitors of their earnings that are not in line with analyst expectations; |

| • |     | the volume of shares of our class A common stock, STRK Stock and other securities available for public sale; |

| • |     | sales or purchases of stock by us or by our stockholders and issuances of awards under our equity incentive plan; 
 and                                                                                                               |

| • |     | general economic conditions and slow or negative growth of related markets, including as a result of war,                              
 terrorism, infectious diseases (such as COVID-19), natural disasters and other global events, and government responses to such events. |

Investors who purchase shares in this offering at different times will likely pay different prices, and so may experience different outcomes in their investment results. In addition, the stock market and the market for both SA-14

bitcoin-influenced and technology companies have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of companies in
those markets. In particular, recent trading prices of our class A common stock may reflect market dynamics that are not connected to traditional software and business intelligence industry fundamentals, or to valuation methods commonly associated