Bitcoin has plunged. Strategy Inc is an early victim

Dec 4th 2025|New York|3 min read

STRATEGY, once a middling software firm named MicroStrategy, is now best known as the world’s largest corporate owner of bitcoin. Michael Saylor, its founder, describes the company as the world’s first digital-credit vehicle, powered by what he calls “a bitcoin reactor”. Now, with the price of the cryptocurrency plummeting, it is something else altogether: an example of hubris, demonstrating the risks of taking on leverage to purchase enormous quantities of a volatile asset.