Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 3

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 3
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ing Statements          |     |      |  5 |
| Risk Factors                        |     |      |  8 |
| MicroStrategy Incorporated          |     |      |  9 |
| Use Of Proceeds                     |     |      | 11 |
| Description Of Debt Securities      |     |      | 12 |
| Description Of Capital Stock        |     |      | 22 |
| Description Of Depositary Shares    |     |      | 29 |
| Description Of Warrants             |     |      | 32 |
| Description Of Units                |     |      | 33 |
| Forms Of Securities                 |     |      | 34 |
| Plan Of Distribution                |     |      | 36 |
| Legal Matters                       |     |      | 38 |
| Experts                             |     |      | 38 |

ABOUT THIS PROSPECTUS SUPPLEMENT

This document is in two parts. The first part is the prospectus supplement, which describes the specific terms of this offering. The second part is the
accompanying prospectus, which provides more general information about securities we may offer from time to time, some of which does not apply to this offering. Generally, when we refer to this prospectus, we are referring to both parts of this
document combined. Before purchasing any of the perpetual strike preferred stock that we are offering, you should carefully read this prospectus supplement, the accompanying prospectus and all of the information contained in the documents
incorporated by reference herein and therein, as well as the additional information described under the headings “Where You Can Find More Information; Incorporation by Reference.” These documents contain important information that you
should consider when making your investment decision.

This prospectus supplement is part of a registration statement that we filed with the Securities
and Exchange Commission (the “SEC”) as a “well-known seasoned issuer” as defined in Rule 405 under the Securities Act, utilizing a “shelf” registration process. By using a shelf registration statement, we may sell an
unspecified amount of securities from time to time. Under this prospectus supplement, we may from time to time sell shares of our perpetual strike preferred stock having an aggregate offering price of up to $21,000,000,000, at prices and on terms to
be determined by market conditions at the time of the offering.

This prospectus supplement may add, update or change information contained in the
accompanying prospectus. To the extent there is a conflict between the information contained