Strategy Inc. surpassed First Abu Dhabi Bank in market capitalization on September 25, 2026, reaching $60.94 billion versus the Gulf bank’s $60.10 billion. Formerly known as MicroStrategy and trading on Nasdaq under MSTR, Strategy has repositioned itself as a publicly listed Bitcoin treasury vehicle. It holds more than 840,000 Bitcoin, accumulated largely through equity issuances, convertible notes and preferred-stock offerings that have tripled its shares outstanding since 2020. MSTR’s market value previously peaked near $128 billion in 2025. The company began its Bitcoin strategy in 2020 under executive chairman Michael Saylor and has more recently authorized share buybacks, repurchased preferred stock and conducted limited Bitcoin sales for liquidity management. The comparison highlights how investors can value a Bitcoin-focused corporate structure above a much larger operating bank, despite First Abu Dhabi Bank holding AED 1.4 trillion, roughly $382 billion, in assets and reporting AED 10.7 billion in first-half 2026 net profit. Strategy’s concentration and leverage are drawing closer attention to disclosure, leverage limits and custody requirements in the United States and Gulf region.