Material Event (Form 8-K)

On May 18, 2021, MicroStrategy Incorporated (the 'Company') announced that it had purchased approximately 229 bitcoins for $10.0 million in cash, at an average price of approximately $43,663 per bitcoin, inclusive of fees and expenses. As of May 18, 2021, the Company holds approximately 92,079 bitcoins that were acquired at an aggregate purchase price of $2.251 billion and an average purchase price of approximately $24,450 per bitcoin, inclusive of fees and expenses.