Strategy (MSTR) risk factors

Item 1A of every Strategy Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.

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FY2025 10-K risk factors
65 risks
Bitcoin holdings and their volatility, custody, liquidity, regulation, and concentration dominate the risk section.
Filed Feb 19, 2026