S&P Global Ratings today assigned its 'B-' issuer credit rating to Strategy Inc (formerly named MicroStrategy Incorporated). The outlook is stable. Our ratings on Strategy incorporate our view of the company's narrow business focus, high bitcoin concentration, low U.S. dollar liquidity, and very weak risk-adjusted capital offset, only partially by Strategy's strong access to capital markets and prudent management of its capital structure. The company's concentration in bitcoin is key to its strategy and will likely continue to weigh on our ratings. Strategy's treasury reserve strategy gives indirect exposure to ... (full story)