Strategy Inc. (MSTR): Governance & Key Personnel Risk Analysis

Strategy Inc., formerly MicroStrategy, has aggressively pivoted to a Bitcoin Treasury Company model under the direction of Executive Chairman Michael Saylor. This report examines Saylor's "playbook," insider activity, the evolution of governance given changes to his voting power and board composition, and the inherent key-person risk associated with Strategy Inc.'s highly centralized strategy. While formal governance structures have improved, the company's trajectory remains tightly linked to Saylor's vision and execution.