Strategy Announces Establishment of $1.44 Billion Usd Reserve and Updates Fy 2025 Guidance

Strategy Inc Establishes $1.44 Billion USD Reserve Amid Market Volatility

Tysons Corner, Virginia – Strategy Inc (Nasdaq: STRF/STRC/STRK/STRD/MSTR; LuxSE: STRE) today announced the establishment of a significant US dollar reserve to bolster its financial stability amid market uncertainties. The company has set aside $1.44 billion in this reserve, which will be used to meet dividend obligations and cover interest on outstanding debts.

The decision to create this USD Reserve underscores Strategy Inc’s commitment to maintaining robust financial health. This strategic move was made possible through the proceeds from an at-the-market offering program of class A common stock shares. The company aims to maintain a reserve sufficient to fund at least twelve months of its dividend payments, with plans to gradually increase it over time.

“Establishing this USD Reserve complements our existing BTC Reserve and marks a pivotal step in our ongoing evolution,” said Michael Saylor, Founder and Executive Chairman. “We believe that this dual-reserve strategy will better enable us to navigate short-term market fluctuations while staying true to our vision of being the world’s leading issuer of Digital Credit.”

Updates to FY 2025 Guidance Amid Bitcoin Price Volatility

In response to recent volatility in the Bitcoin market, Strategy Inc has updated its forward guidance for fiscal year 2025 (FY2025). The company’s initial guidance had assumed a Bitcoin price of $150,000 by December 31, 2025. However, the trading price of Bitcoin has since declined from approximately $111,612 to as low as $80,660 on November 21, 2025.

Given these market dynamics, Strategy Inc is now providing a range of potential outcomes for its FY2025 financial performance based on different Bitcoin price scenarios.

The updated guidance reflects an assumed year-end 2025 Bitcoin price between $85,000 and $110,000. Under this scenario, the company expects to achieve a range of operating income, net income, and diluted earnings per share:

• Operating Income (Loss): between approximately $(7.0) billion and $9.5 billion
• Net Income (Loss): between approximately $(5.5) billion and $6.3 billion
• Diluted Earnings (Loss) Per Share: between approximately $(17.0) per share of common stock and $19.0 per share of common stock

These targets are contingent upon the successful completion of capital raises to achieve Strategy Inc’s FY2025 Bitcoin Yield Target and the deployment of these funds towards purchasing additional Bitcoin.

Strategic Bitcoin KPI Adjustments for FY 2025

Strategy Inc is also adjusting its key performance indicators (KPIs) related to Bitcoin for FY2025. The company’s updated targets include:

• BTC Yield Target: between 22.0% and 26.0%
• BTC $ Gain Target: between $8.4 billion and $12.8 billion

These KPIs are expected to be achieved through a combination of preferred stock offerings, disciplined common stock issuances, and the consequent increase in Bitcoin holdings.

About Strategy Inc (Nasdaq: STRF/STRC/STRK/STRD/MSTR; LuxSE: STRE) – The company is recognized as the world’s first and largest Bitcoin Treasury Company. By strategically accumulating Bitcoin through equity and debt financings, and leveraging its AI-powered enterprise analytics software, Strategy Inc aims to provide varying degrees of economic exposure to Bitcoin while focusing on technological innovation and operational excellence.

Strategy Inc faces various risks in achieving these targets, including fluctuations in the market price of Bitcoin and changes in securities laws. The company remains committed to providing transparency and clear guidance despite these uncertainties.

Contact: Shirish Jajodia, Corporate Treasurer [email protected]