Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 95

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 95
---
 and we believe there is a reasonable basis for them. However, there can be no 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 many 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, 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 our stock;                                                                         |

| • |     | we may not be able to regain profitability in future periods; |

| • |     | a significant decrease in the market value of our bitcoin holdings could adversely affect our ability to service 
 our indebtedness;                                                                                                |

| • |     | unrealized fair value 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 Acquisition Strategy and Holdings

| • |     | our bitcoin strategy exposes us to various risks associated with bitcoin; |

| • |     | 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 class A common stock;          |

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

| • |     | our historical financial statements do not reflect the potential variability in earnings that we may experience 
 in the future relating to our bitcoin holdings;                                                                 |

| • |     | the availability of spot exchange-traded products for bitcoin and other digital assets may adversely affect the 
 market price of our class A common stock;                                                                       |

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

| • |     | the concentration of our bitcoin holdings enhances the risks inherent in our bitcoin strategy; |

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

-5-

| • |