S&P Global has given Strategy a credit rating of "B-", classifying it as junk bond status but with a stable outlook.

On October 28, S&P Global Ratings has given the largest Bitcoin treasury company, Strategy, a credit rating of “B-”, placing it in the speculative, non-investment grade (commonly referred to as “junk bonds”) category - but at the same time noting that the outlook for this Bitcoin treasury company remains stable. S&P stated in a report released on Monday: “We believe that Strategy's high Bitcoin concentration, single business structure, weak risk-adjusted capital strength, and insufficient dollar liquidity are all weaknesses in its credit profile.” It is reported that Strategy has accumulated a reserve of 640,808 Bitcoins through stock and debt financing. S&P noted that the stable rating outlook assumes that the company will prudently manage the risks of convertible bond maturity and maintain preferred stock dividend payments, which may require further debt issuance to achieve. S&P Global also emphasized that Strategy faces “intrinsic currency mismatch risks” - all of its debt is denominated in dollars, while a large portion of its dollar reserves is used to support its software business, which is currently roughly breaking even in terms of revenue and cash flow.