#USHouseMarketStructureDraft The company believes smaller firms are more suitable to adopt Strategy's Bitcoin treasury framework as it's the only visible path for them to grow.

"Small companies with low growth-high cash have better market fit with the MSTR Bitcoin playbook — there is no visible road ahead for them for value creation, and the success of the MSTR model offers them a rare growth path," Bernstein wrote in a note to investors on Monday.