Updated: Sunday, Dec. 14, 2025
Strategy Inc—best known to many investors by its legacy name MicroStrategy—is back in the spotlight as index inclusion, bitcoin treasury expansion, and debates over what the company “really is” collide at once. Over the past two weeks, the stock has swung with crypto sentiment, while institutional and analyst attention has intensified ahead of a pivotal MSCI methodology decision expected in January.
Below is a complete, publication-ready roundup of today’s (14.12.2025) news, plus the most important forecasts and analyses driving Strategy stock (Nasdaq: MSTR) right now.
Quick take: what matters most for Strategy (MSTR) right now
- Strategy remains in the Nasdaq-100 after the annual reconstitution outcome announced Dec. 12, with changes effective Dec. 22, 2025. [1]
- The bigger overhang is MSCI’s consultation on “Digital Asset Treasury” (DAT) companies—including whether firms with digital assets ≥ 50% of total assets should be excluded from MSCI Global Investable Market Indexes. Final conclusions are due Jan. 15, 2026, with potential implementation at the February 2026 Index Review. [2]
- Strategy has continued large-scale bitcoin accumulation, reporting 10,624 BTC acquired for ~$962.7M (Dec. 1–7) and total holdings of 660,624 BTC as of Dec. 7. [3]
- The company has built a $1.44B USD Reserve to support dividends and debt costs, while also updating FY2025 guidance to reflect a lower, volatile bitcoin price range. [4]
- Wall Street price targets remain highly dispersed—from $54 on the low end to $705 on the high end across several aggregators—reflecting how much of MSTR’s valuation thesis is essentially a forecast about bitcoin and the firm’s ability to finance more buying. [5]
Strategy Inc stock price today (Dec. 14, 2025)
With U.S. markets closed Sunday, the latest available prices show:
- Strategy (MSTR): ~$176.45
- Bitcoin (BTC): ~$88,821
That pairing matters more for Strategy than for most Nasdaq names, because the company’s equity has become a widely traded “bitcoin proxy”—often moving like a leveraged play on BTC rather than a conventional enterprise software stock. [6]
Why Strategy (MSTR) is in the headlines: Nasdaq-100 reconstitution is settled—for now
The biggest near-term index question has been answered: Strategy remains in the Nasdaq-100 after the index’s annual reshuffle decision. Reuters reported the outcome after the Dec. 12 review, noting Strategy “clung to its place” in the benchmark. [7]
Nasdaq’s own press release on the annual changes confirms the reconstitution timeline and the list of adds/removals effective before market open Monday, Dec. 22, 2025. [8]
What changed in the Nasdaq-100 (and why it mattered for MSTR)
Nasdaq announced six additions—Alnylam, Ferrovial, Insmed, Monolithic Power Systems, Seagate, Western Digital—and six removals—Biogen, CDW, GlobalFoundries, Lululemon, ON Semiconductor, Trade Desk. [9]
For Strategy holders, the key point is what didn’t happen: the company was not removed, avoiding a scenario analysts warned could trigger large passive outflows from index-tracking products. In the days before the decision, Reuters highlighted estimates that a removal could have driven roughly $1.6B in passive fund outflows. [10]
Why there was even a question about eligibility
The controversy wasn’t about size. It was about classification.
Reuters summarized the debate bluntly: many market watchers argue Strategy’s bitcoin buy-and-hold model looks less like a technology operating company and more like an investment fund-like vehicle tied to bitcoin volatility. [11]
That debate isn’t just philosophical—it affects index eligibility, and therefore the “forced buyer / forced seller” flows that can meaningfully move a stock with heavy ETF ownership.
The bigger catalyst ahead: MSCI’s “Digital Asset Treasury” proposal and the Jan. 15 decision
Even as Nasdaq-100 risk recedes, MSCI has become the next major headline driver.
What MSCI is considering
In an official announcement, MSCI said it is consulting on the treatment of companies whose primary business involves bitcoin or other digital asset treasury activities, especially where capital raising primarily funds digital asset accumulation. MSCI notes some participants see these companies as resembling investment funds (typically ineligible for index inclusion) and therefore proposes excluding companies whose digital asset holdings are 50% or more of total assets from the MSCI Global Investable Market Indexes. [12]
MSCI stated the consultation remains open until Dec. 31, 2025, with final conclusions announced by Jan. 15, 2026, and any changes potentially implemented at the February 2026 Index Review. [13]
Strategy’s response: “operating company, not an investment fund”
Strategy has publicly opposed the proposal on its website, arguing that digital asset treasuries are operating companies and calling the 50% threshold “arbitrary” and “unworkable,” among other critiques. [14]
Reuters also reported Strategy chairman Michael Saylor said the company is engaging with MSCI ahead of the decision, while downplaying the impact of a possible exclusion. [15]
Why this matters to investors: If MSCI exclusions occur and are followed by other index providers or implemented broadly across passive products, MSTR could face meaningful mechanical selling pressure unrelated to fundamentals—exactly the kind of “flow event” that tends to dominate short-term price action.
Strategy’s latest bitcoin purchases: $962.7M in one week and 660,624 BTC total
One of the most concrete, price-relevant updates in December has been the firm’s renewed pace of bitcoin accumulation.
In its Form 8-K dated Dec. 8, 2025, Strategy disclosed that from Dec. 1–7 it acquired 10,624 BTC for an aggregate purchase price of $962.7 million, at an average price of $90,615 per bitcoin (inclusive of fees and expenses). The filing states that as of Dec. 7, Strategy held 660,624 BTC, acquired for $49.35 billion at an average cost of $74,696 per bitcoin. [16]
How Strategy funded the buying (and why dilution remains part of the story)
The same 8-K includes an update on its at-the-market (ATM) program. It shows Strategy sold 5,127,684 shares of MSTR (net proceeds $928.1M) and 442,536 shares of STRD preferred stock (net proceeds $34.9M) during that period, with total net proceeds of $963.0M. [17]
That matters because it reinforces the core dynamic behind MSTR’s volatility: bitcoin exposure plus ongoing capital-market activity. When the stock trades richly relative to its underlying BTC value, issuing equity can be easier. When the premium compresses, funding the same strategy can become harder—or more expensive.
Barron’s characterized the ~$1B BTC buy as a sentiment-positive signal for the stock and noted analyst target revisions around that time (for example, a Cantor Fitzgerald target cut while maintaining an overweight-style view). [18]
The cash side of the balance sheet: Strategy’s $1.44B USD Reserve and updated FY2025 guidance
While most headlines focus on BTC accumulation, Strategy has also taken steps to address a recurring investor question: how it services dividends on preferred stock and interest on debt through a volatile crypto cycle.
The $1.44B USD Reserve
In a Dec. 1 press release, Strategy announced it established a $1.44 billion USD Reserve intended to support dividend and interest payments (“Dividends”), funded using proceeds from selling Class A shares through its ATM program. The company said it intends to maintain a reserve sufficient for at least 12 months of dividend/interest obligations, with a longer-term goal of 24 months or more. [19]
Reuters also highlighted the reserve and framed it as part of Strategy’s response to bitcoin weakness and dividend-payment scrutiny. [20]
FY2025 guidance now explicitly depends on a bitcoin price range
The same Strategy release updated its FY2025 assumptions away from a prior $150,000 year-end bitcoin assumption and instead provided ranges based on a year-end 2025 BTC price range of $85,000 to $110,000—including wide bands for operating income, net income, and diluted EPS. [21]
This is also where accounting policy becomes crucial. Strategy notes it adopted ASU 2023-08, measuring bitcoin holdings at fair value with changes flowing through net income (loss), increasing reported earnings sensitivity to BTC moves. [22]
Investor implication: even if the underlying operating software business is stable, headline earnings can swing dramatically with bitcoin’s mark-to-market changes—making traditional valuation comparisons to software peers unusually tricky. Reuters underscored this disconnect in its Nasdaq-100 risk coverage, citing Strategy’s quarterly profit heavily influenced by accounting changes while legacy software revenue remained relatively small. [23]
Why MSTR can diverge from bitcoin: premium compression, passive flows, and leverage optics
In the run-up to the Nasdaq-100 decision, Reuters reported Strategy shares were down sharply from prior highs and highlighted a striking mismatch: Strategy’s market value was estimated around $52.7B while its bitcoin holdings were worth more than $61B in Reuters calculations at the time—an inversion of the premium that previously powered the company’s financing flywheel. [24]
MarketWatch similarly described how the stock has, at points, shifted from trading at a large premium to trading near parity or even at a discount versus BTC holdings, while pointing to heavy annual financing costs and the perceived “need” to keep buying to sustain the model. [25]
That’s the heart of today’s debate:
- Bull case: Strategy is the most liquid, equity-market “bitcoin treasury” vehicle, with multiple securities and a repeatable capital formation engine.
- Bear case: As spot bitcoin products proliferate and index providers scrutinize DAT-style models, Strategy’s premium and access to cheap capital could face structural pressure.
Analyst forecasts for Strategy stock: upside remains huge—because assumptions are extreme
Across major forecast aggregators, the consensus still leans bullish, but with unusually wide dispersion:
- TradingView: analyst price target about $497.71, with $705 high / $229 low, and an overall “strong buy” characterization based on recent ratings. [26]
- StockAnalysis: average target about $497.29 (high $705, low $54) and a “Strong Buy” consensus label; it also tracks recent target changes by firm. [27]
- MarketBeat: “Moderate Buy” consensus with an average target about $475.80 and a wide high/low range (high $705, low $54). [28]
- TipRanks (article context): “Strong Buy” sentiment, with an average target around $481.08. [29]
- Zacks (snapshot): an average price target around $501.92 based on its compilation. [30]
How to read these targets without getting misled
For most stocks, a 12‑month target range is a debate about margins, growth rates, or product cycles. For MSTR, it’s often a debate about:
- Where bitcoin goes next, and
- Whether Strategy can continue funding BTC accumulation in a way the market rewards (rather than punishes) through dilution or higher financing costs.
That’s why you can simultaneously see targets in the $400–$700 zone and—on the same aggregation pages—much lower “bear case” targets. [31]
The timeline investors are watching after Dec. 14, 2025
Here are the next dates and catalysts shaping the MSTR narrative:
- Dec. 22, 2025 — Nasdaq-100 reconstitution takes effect (Strategy stays in). [32]
- Dec. 31, 2025 — MSCI consultation window closes on the Digital Asset Treasury proposal. [33]
- Jan. 15, 2026 — MSCI conclusions due, which could set up index methodology changes and potential forced flows. [34]
- February 2026 — possible MSCI implementation timing (if MSCI proceeds). [35]
- Ongoing — new BTC purchases and ATM issuance (Strategy’s filings have made this a frequent, market-moving disclosure cadence). [36]
What Strategy Inc actually is in 2025 (and why naming still confuses investors)
If you’re seeing “MicroStrategy” in some headlines and “Strategy” in others, that’s because the company completed a formal renaming process this year:
- Strategy said it changed its legal name from MicroStrategy Incorporated to Strategy Inc, effective Aug. 11, 2025, after a rebrand announced earlier in 2025. [37]
- The main U.S. common stock ticker remains MSTR, alongside preferred tickers including STRK, STRF, STRD, STRC. [38]
For SEO and investor clarity, it’s now common to see the company referred to as Strategy (MSTR) or Strategy Inc (formerly MicroStrategy)—both are describing the same Nasdaq-listed issuer. [39]
Bottom line for Dec. 14, 2025: Nasdaq-100 relief, MSCI risk remains, and the bitcoin engine keeps running
As of Dec. 14, 2025, the market has one clear resolution—Strategy remains in the Nasdaq-100—and one major unresolved catalyst—MSCI’s January decision on whether companies like Strategy should remain eligible for broad equity benchmarks. [40]
Meanwhile, the company continues to execute on its defining play: issuing securities, maintaining liquidity buffers, and buying bitcoin at scale—most recently adding 10,624 BTC in early December and bringing holdings to 660,624 BTC as of Dec. 7. [41]
For investors, Strategy stock remains what it has increasingly become since 2020: a high-volatility, equity-market expression of bitcoin conviction—plus financing and index-policy risk layered on top. [42]
References
1. www.reuters.com, 2. app2.msci.com, 3. www.sec.gov, 4. www.strategy.com, 5. stockanalysis.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.nasdaq.com, 9. www.nasdaq.com, 10. www.reuters.com, 11. www.reuters.com, 12. app2.msci.com, 13. app2.msci.com, 14. www.strategy.com, 15. www.reuters.com, 16. www.sec.gov, 17. www.sec.gov, 18. www.barrons.com, 19. www.strategy.com, 20. www.reuters.com, 21. www.strategy.com, 22. www.strategy.com, 23. www.reuters.com, 24. www.reuters.com, 25. www.marketwatch.com, 26. www.tradingview.com, 27. stockanalysis.com, 28. www.marketbeat.com, 29. www.tipranks.com, 30. www.zacks.com, 31. www.marketbeat.com, 32. www.nasdaq.com, 33. app2.msci.com, 34. app2.msci.com, 35. app2.msci.com, 36. www.sec.gov, 37. www.strategy.com, 38. www.strategy.com, 39. www.reuters.com, 40. www.reuters.com, 41. www.sec.gov, 42. www.reuters.com
