Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 38

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 38
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 not operate as a registered money market fund. Holders of STRC
Stock do not benefit from the protections available to holders of securities of a registered money market fund. Bitcoin does not have a similar risk profile to the assets required to be held by money market funds because, among other things, it is
much more volatile and involves no principal protection. Unlike money market funds, we do not price our securities, including the STRC Stock, based on the net asset value of the pool of assets backing the securities. We are also not subject to any
regulation requiring that we maintain any particular pricing or stable value, and we are not subject to the fee restrictions or liquidity requirements applicable to registered money market funds.

We have broad discretion in the use of the net proceeds from this offering and may not use them effectively.

We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital, and may also
use the net proceeds for the payment of cash dividends declared or expected to be declared by the board of directors from time to time on shares of any class or series of our preferred stock, other than the STRC Stock, then outstanding. As a result,
our management will have broad discretion in the application of the net proceeds from this offering, and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used in a manner of which you
approve. Because of the number and variability of factors that will determine our use of the net proceeds from this offering, their ultimate use may vary substantially. Our management may not apply our net proceeds in ways that ultimately increase
the value of your investment. The failure by our management to apply these funds effectively

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could harm our business. If we do not invest or apply the net proceeds from this offering in ways that enhance stockholder value, we may fail to achieve expected financial results, which could
cause the trading price of the STRC Stock to decline.

We may use the net proceeds from this offering to purchase additional bitcoin, the price of which has been, and will likely continue to be, highly volatile.

We may use the net proceeds from this offering to purchase additional bitcoin.
Bitcoin is a highly volatile asset that has traded below $50,000 per bitcoin and above $120,000 per bitcoin on the Coinbase exchange (our principal market for bitcoin) in the 12 months preceding the date of this prospectus supplement. In addition,
bitcoin does not pay interest or other returns and