Strategy Trades Below Software and Crypto-Peer Book-Value Benchmarks

Strategy’s shares trade at about 2.0 times book value, below the software sector’s roughly 3.1 times and a closer peer group’s 7.9 times, according to Simply Wall St. The valuation comparison comes as the company’s Bitcoin-heavy balance sheet draws attention.

The stock had gained about 381.4% over three years, the article said. It noted that Strategy’s Bitcoin purchases, funded through common and preferred equity, and recent preferred stock buybacks can change book value per share and the balance between debt, equity and digital assets.

At 20:00 UTC on Sept. 28, shares traded at $157.14, down 0.93% since the previous close. The article cited the stock at $158.61, the price level around which it discussed the book-value question.

Simply Wall St. said investors are split between viewing Strategy’s Bitcoin-focused asset base as underappreciated and seeing concentration risk as already reflected in the price. Its cited bull case described the stock as 78% undervalued, while its bear case called it 27% overvalued. Those figures represent separate community narratives, not a consensus valuation.