Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 6

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 6
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 assurance that management’s expectations, beliefs, estimates and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. There are a number of risks, uncertainties and other important factors, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking statements contained in this prospectus. The principal risks, uncertainties and other important factors that have affected or may affect our business and that have caused or could cause our actual results to differ materially include the following, as well as the other risks detailed in the “Risk Factors” and “Risk Factor Updates” sections contained in this prospectus supplement, the accompanying prospectus or in documents incorporated by reference herein and therein, without limitation: Risks Related to Our Business in General

| • |     | our quarterly operating results, revenues, and expenses may fluctuate significantly, which could have an adverse 
 effect on the market price of the STRD Stock;                                                                    |

| • |     | we may not be able to remain profitable in future periods; |

| • |     | a significant decrease in the market value of our bitcoin holdings could adversely affect our ability to satisfy 
 our financial obligations;                                                                                       |

| • |     | unrealized gains on our bitcoin holdings could cause us to become subject to the corporate alternative minimum 
 tax under the Inflation Reduction Act of 2022;                                                                 |

Risks Related to Our Bitcoin Strategy and Holdings

| • |     | our bitcoin strategy exposes us to various risks, including risks associated with bitcoin and the risk that                                                
 changes in the accounting treatment of our bitcoin holdings could have significant accounting impacts, including increasing the volatility of our results; |

| • |     | bitcoin is a highly volatile asset, and fluctuations in the price of bitcoin have in the past influenced and are 
 likely to continue to influence our financial results and the market price of our STRD Stock;                    |

| • |     | bitcoin and other digital assets are novel assets, and are subject to significant legal, commercial, regulatory 
 and technical uncertainty;                                                                                      |

| • |     | the availability of spot exchange-traded products for bitcoin and other digital assets may adversely affect the 
 market price of the STRD Stock;                                                                                 |

| • |     | our bitcoin strategy subjects us to enhanced regulatory oversight; |

S-3

| • |     | bitcoin trading venues may experience greater fraud, security failures or regulatory or operational problems than 
 trading venues for more established asset classes;                                                                |

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