Strategy Inc 8-K

What Happened

• Strategy Inc. (MSTR) filed an 8‑K on December 29, 2025 reporting activity under its at‑the‑market (ATM) program and updates to its bitcoin holdings. During the period December 22–28, 2025, the company sold 663,450 shares of Class A common stock, generating net proceeds of $108.8 million. Those proceeds were used to acquire 1,229 BTC at an aggregate cost of $108.8 million (average ~$88,568 per BTC).
• The filing also states Strategy’s aggregate bitcoin holdings as of December 28, 2025 are 672,497 BTC, acquired for an aggregate purchase price of $50.44 billion (average purchase price ~$74,997 per BTC). Strategy disclosed that it uses a public "Strategy Dashboard" on its website (www.strategy.com) as a Regulation FD disclosure channel.

Key Details

• Shares sold (Dec 22–28, 2025): 663,450 MSTR; Net proceeds: $108.8 million.
• BTC acquired with those proceeds: 1,229 BTC; Average price for that purchase: ~$88,568/BTC.
• Total BTC holdings (as of Dec 28, 2025): 672,497 BTC; Aggregate cost: $50.44 billion; Average cost: ~$74,997/BTC.
• Remaining ATM availability (as disclosed): approximately $11.70 billion of Class A common stock still available for issuance/sale under the ATM (other preferred stock issuance capacities also listed).

Why It Matters

• The company is actively using its ATM program to raise capital and is converting ATM proceeds directly into bitcoin, which increases Strategy’s bitcoin treasury while also increasing shares sold into the market. Retail investors should note the specific recent share issuance and proceeds, and that those proceeds were used for bitcoin purchases.
• Strategy’s large aggregate bitcoin holdings and disclosed average purchase price give investors clearer data on the company’s crypto exposure and cost basis. The company’s website dashboard is an official, public channel for ongoing disclosures under Regulation FD.