Strategy is no longer a traditional software company, but a highly focused Bitcoin trust vehicle with an operational software substructure. The share offers a leveraged exposure to the Bitcoin price, combined with a still existing - albeit secondary - BI business.
For investors who believe in the long-term value of Bitcoin, Strategy is one of the purest listed BTC plays.
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Buy - If the following applies
You are convinced that Bitcoin will reach significantly higher prices in the long term (100k+, 200k+).
Strategy can then be supported by:
- BTC holdings
- Additional BTC purchases via capital raising
- Leverage through debt capital
- Branding as a leading corporate hodler
benefit disproportionately.
You're not buying the software business here - you're buying the Saylor effect + BTC leverage.
If you believe in Bitcoin adoption, you are buying a "Bitcoin on steroids" with Strategy.
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Hold - If you are already invested
If you are already in, it makes sense to hold the position as long as:
- you accept the high risk
- you see Strategy as a long-term Bitcoin proxy
- you can withstand the volatility
- you understand that capital increases and dilution are part of the model
Hold is suitable for investors who do not want to reduce their BTC exposure, but also do not want to increase it excessively.
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Rethink - If one of these applies
Rethink the entry or existing position if:
- you are uncomfortable with capital dilution, high debt and volatility
- you were expecting a classic software investment
- you don't want a share to be 80-95% dependent on the price of Bitcoin
- you are planning a conservative portfolio share
Strategy is not a defensive stock, not a dividend stock, not a fundamental play - it is a high-conviction bet on Bitcoin with leverage.
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Short summary
$MSTR (-3.1%)
$BTC (-2.13%)
$3350 (-0.98%)
$BMNR (-2.97%)
- Buy: For Bitcoin convinced, high-risk-high-reward investors.
- Hold: For already invested BTC bulls.
- Rethink: For those who expect a stable software company or don't want to live with extreme price swings.
