Strategy Inc
BTC treasury holder
- Research framing
- Operating company with a Bitcoin treasury strategy, where financing, filings, and BTC holdings shape equity risk.
Filing-first equity research
Sawse
Research on public companies and ETF wrappers where SEC filings, fundamentals, insider activity, institutional ownership, market data, and BTC exposure explain what changed and why it matters.
Featured Coverage
$MSTR Strategy IncBTC treasury holder. Operating company with a Bitcoin treasury strategy, where financing, filings, and BTC holdings shape equity risk.$COIN Coinbase GlobalCrypto exchange. Crypto exchange where trading volume, custody growth, regulation, and market-cycle exposure drive equity risk.$MARA MARA HoldingsBitcoin miner. Bitcoin miner where hashprice, power costs, production, and BTC treasury moves drive the equity story.IBIT iShares Bitcoin Trust ETFSpot BTC ETF wrapper. Spot Bitcoin ETF wrapper where AUM, liquidity, fees, and premium or discount frame investor exposure.
Research Desks
StocksOperating companies where filings, fundamentals, ownership, and market context give the story enough evidence.ETFsSpot Bitcoin ETF wrappers tracked through filings, wrapper mechanics, flows, liquidity, and BTC reference data.Daily BriefingsA compact read on what changed across the covered universe and which records moved.SEC FilingsFiling-led notes that pull the important disclosure changes into reader context.Insider ActivityForm 4 transaction clusters organized by person, role, timing, and issuer context.ExplainersLonger reads on company structures, accounting treatment, market mechanics, and risk.
Coverage Universe
Sawse follows operating companies and ETF wrappers where filings, financial disclosures, ownership records, and market context can support repeatable research coverage.
| Ticker | Issuer | Category | Research framing |
|---|---|---|---|
| $MSTR | Strategy Inc | BTC treasury holder | Operating company with a Bitcoin treasury strategy, where financing, filings, and BTC holdings shape equity risk. |
| $COIN | Coinbase Global | Crypto exchange | Crypto exchange where trading volume, custody growth, regulation, and market-cycle exposure drive equity risk. |
| $GLXY | Galaxy Digital | Crypto financial services | Crypto financial-services company where trading, treasury exposure, and digital-asset markets drive results. |
| $HOOD | Robinhood Markets | Retail trading platform | Retail brokerage where crypto trading, customer activity, and product mix can materially affect results. |
| $MARA | MARA Holdings | Bitcoin miner | Bitcoin miner where hashprice, power costs, production, and BTC treasury moves drive the equity story. |
| $RIOT | Riot Platforms | Bitcoin miner | Bitcoin miner with operating leverage to hashrate, energy costs, power strategy, and BTC price cycles. |
| $CLSK | CleanSpark | Bitcoin miner | Bitcoin miner where fleet growth, power strategy, production efficiency, and BTC holdings drive results. |
| IBIT | iShares Bitcoin Trust ETF | Spot BTC ETF wrapper | Spot Bitcoin ETF wrapper where AUM, liquidity, fees, and premium or discount frame investor exposure. |
| FBTC | Fidelity Wise Origin Bitcoin Fund | Spot BTC ETF wrapper | Spot Bitcoin ETF wrapper where AUM, trading liquidity, fees, and BTC-per-share context frame exposure. |
| ARKB | ARK 21Shares Bitcoin ETF | Spot BTC ETF wrapper | Spot Bitcoin ETF wrapper where flows, AUM, liquidity, and premium or discount shape peer comparison. |
| $IREN | IREN | Bitcoin miner | Bitcoin miner where fleet expansion, power costs, production updates, and BTC exposure frame equity risk. |
| $HUT | HUT | Bitcoin miner | Bitcoin miner where production, treasury policy, power costs, and hosting exposure frame equity risk. |
| $BITF | BITF | Bitcoin miner | Bitcoin miner where production trends, energy costs, fleet scale, and Canadian disclosure cadence frame risk. |
| $WULF | WULF | Bitcoin miner | Bitcoin miner where power strategy, production scale, fleet efficiency, and financing needs frame equity risk. |
| $CORZ | CORZ | Bitcoin miner | Bitcoin miner and hosting operator where fleet scale, power contracts, and customer demand frame results. |
| $MSFT | Microsoft | Mega-cap software and cloud platform | Mega-cap software and cloud platform where Azure growth, margins, AI investment, and capital allocation drive results. |
| $SHOP | Shopify | Commerce platform | Commerce platform where merchant growth, payments exposure, margins, and platform investment shape results. |
| $ORCL | Oracle | Enterprise software and cloud infrastructure | Enterprise software and cloud platform where cloud transition, margins, backlog, and AI infrastructure demand drive results. |
| $NOW | ServiceNow | Enterprise workflow software | Enterprise workflow software company where subscription growth, renewal strength, margins, and AI features drive results. |
| $META | Meta Platforms | Digital advertising and social platform | Digital advertising platform where ad demand, user engagement, AI investment, and capital allocation drive results. |
| $PANW | Palo Alto Networks | Cybersecurity platform | Cybersecurity platform where billings, deferred revenue, platform adoption, and margin discipline drive results. |
| $GOOG | Alphabet | Search, cloud, and digital advertising platform | Search, cloud, and advertising platform where AI investment, ad demand, cloud growth, and capital allocation drive results. |
| $NVDA | NVIDIA Corporation | AI accelerator and platform semiconductor company | AI accelerator leader where data-center demand, supply capacity, margins, and platform adoption drive results. |
| $AMD | Advanced Micro Devices, Inc. | AI accelerator and semiconductor company | AI accelerator challenger where MI-series adoption, data-center economics, margins, and competitive share drive results. |
| $TSM | Taiwan Semiconductor Manufacturing Company Limited | Advanced-node semiconductor foundry | Advanced-node foundry where AI-chip demand, capacity expansion, customer concentration, and Taiwan risk drive results. |
| $ASML | ASML Holding N.V. | Semiconductor equipment and EUV lithography | EUV lithography supplier where orders, backlog, export controls, and customer capex cycles drive results. |
Coinbase Global
Crypto exchange
- Research framing
- Crypto exchange where trading volume, custody growth, regulation, and market-cycle exposure drive equity risk.
Galaxy Digital
Crypto financial services
- Research framing
- Crypto financial-services company where trading, treasury exposure, and digital-asset markets drive results.
Robinhood Markets
Retail trading platform
- Research framing
- Retail brokerage where crypto trading, customer activity, and product mix can materially affect results.
MARA Holdings
Bitcoin miner
- Research framing
- Bitcoin miner where hashprice, power costs, production, and BTC treasury moves drive the equity story.
Riot Platforms
Bitcoin miner
- Research framing
- Bitcoin miner with operating leverage to hashrate, energy costs, power strategy, and BTC price cycles.
CleanSpark
Bitcoin miner
- Research framing
- Bitcoin miner where fleet growth, power strategy, production efficiency, and BTC holdings drive results.
iShares Bitcoin Trust ETF
Spot BTC ETF wrapper
- Research framing
- Spot Bitcoin ETF wrapper where AUM, liquidity, fees, and premium or discount frame investor exposure.
Fidelity Wise Origin Bitcoin Fund
Spot BTC ETF wrapper
- Research framing
- Spot Bitcoin ETF wrapper where AUM, trading liquidity, fees, and BTC-per-share context frame exposure.
ARK 21Shares Bitcoin ETF
Spot BTC ETF wrapper
- Research framing
- Spot Bitcoin ETF wrapper where flows, AUM, liquidity, and premium or discount shape peer comparison.
IREN
Bitcoin miner
- Research framing
- Bitcoin miner where fleet expansion, power costs, production updates, and BTC exposure frame equity risk.
HUT
Bitcoin miner
- Research framing
- Bitcoin miner where production, treasury policy, power costs, and hosting exposure frame equity risk.
BITF
Bitcoin miner
- Research framing
- Bitcoin miner where production trends, energy costs, fleet scale, and Canadian disclosure cadence frame risk.
WULF
Bitcoin miner
- Research framing
- Bitcoin miner where power strategy, production scale, fleet efficiency, and financing needs frame equity risk.
CORZ
Bitcoin miner
- Research framing
- Bitcoin miner and hosting operator where fleet scale, power contracts, and customer demand frame results.
Microsoft
Mega-cap software and cloud platform
- Research framing
- Mega-cap software and cloud platform where Azure growth, margins, AI investment, and capital allocation drive results.
Shopify
Commerce platform
- Research framing
- Commerce platform where merchant growth, payments exposure, margins, and platform investment shape results.
Oracle
Enterprise software and cloud infrastructure
- Research framing
- Enterprise software and cloud platform where cloud transition, margins, backlog, and AI infrastructure demand drive results.
ServiceNow
Enterprise workflow software
- Research framing
- Enterprise workflow software company where subscription growth, renewal strength, margins, and AI features drive results.
Meta Platforms
Digital advertising and social platform
- Research framing
- Digital advertising platform where ad demand, user engagement, AI investment, and capital allocation drive results.
Palo Alto Networks
Cybersecurity platform
- Research framing
- Cybersecurity platform where billings, deferred revenue, platform adoption, and margin discipline drive results.
Alphabet
Search, cloud, and digital advertising platform
- Research framing
- Search, cloud, and advertising platform where AI investment, ad demand, cloud growth, and capital allocation drive results.
NVIDIA Corporation
AI accelerator and platform semiconductor company
- Research framing
- AI accelerator leader where data-center demand, supply capacity, margins, and platform adoption drive results.
Advanced Micro Devices, Inc.
AI accelerator and semiconductor company
- Research framing
- AI accelerator challenger where MI-series adoption, data-center economics, margins, and competitive share drive results.
Taiwan Semiconductor Manufacturing Company Limited
Advanced-node semiconductor foundry
- Research framing
- Advanced-node foundry where AI-chip demand, capacity expansion, customer concentration, and Taiwan risk drive results.
ASML Holding N.V.
Semiconductor equipment and EUV lithography
- Research framing
- EUV lithography supplier where orders, backlog, export controls, and customer capex cycles drive results.
Coverage Categories
Crypto-equitySawse's marquee tier for public equities and ETF wrappers where digital-asset exposure changes the research question.Big techMega-cap technology platforms where cloud economics, AI capex, advertising cycles, and capital allocation shape coverage.Enterprise SaaSSubscription and platform software companies where growth durability, customer expansion, and operating leverage matter most.AI infrastructureHardware, semiconductor, and infrastructure companies exposed to AI datacenter buildout and supply-chain constraints.CybersecuritySecurity platforms where enterprise spending cycles, platform consolidation, and breach/regulatory pressure drive the research lens.
Methodology
Filing Risk ScoreFiling language, material events, accounting flags, and unresolved source risk.BTC Exposure ScoreBalance-sheet, wrapper, revenue, and operating exposure to BTC market movement.Insider Activity SignalForm 4 transaction direction, size, role, clustering, timing, and 10b5-1 context.Event MomentumRecent filings and company events weighted by severity, type, and recency.
Research Principles
Records firstSawse prioritizes SEC filings, company financial statements, insider reports, ownership records, and market data that readers can inspect.Scores need contextSawse scores help prioritize research. They are not ratings, price targets, or buy/sell/hold recommendations.Claims need supportArticles should explain what changed, which record supports it, and where the evidence is still incomplete.Research, not adviceSawse is a research publication. It does not provide personalized investment, legal, tax, or accounting advice.