What is MicroStrategy?

MicroStrategy is a business intelligence and software company that has become a significant holder of Bitcoin. The material tracks its evolving strategy and market perception as a Bitcoin proxy.

• May 2026 - Jason Calacanis said MicroStrategy’s stock would trade for 50% of the value of its Bitcoin holdings, advising investors to sell and own Bitcoin directly.
• Jun 2026 - Ryan Sean Adams noted that MicroStrategy sold 32 Bitcoin.
• Jul 2026 - Ryan Sean Adams said MicroStrategy released a digital credit capital framework, characterizing it as “strategy speak for we’re a hedge fund now.”
• Jul 2026 - Jeff Dorman described MicroStrategy as a “slowly kind of melting ice cube for decades.”