Strategy uses "earnings per Bitcoin" as its core valuation metric.

CoinFeed reported on May 9th that Strategy founder Michael Saylor stated that the company is replacing traditional EPS with Bitcoin per share (BPS) as its core performance indicator. Previously, Strategy CEO Phong Le stated that the company uses a multivariate model to dynamically optimize its capital, equity, debt, and credit structure to maximize annual BTC Yield (BPS growth rate), achieving a year-to-date return of 9.4% and a paper profit of approximately $5 billion from Bitcoin.