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Strategy 8-K Report, Regulation FD Disclosure (Jul 14, 2025)

Reports
Regulation FD·Other Events
Filing Date
Filed July 14, 2025
Period End
July 14, 2025
In the record · 2016–202610-K1110-Q338-K265

MSTR filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 265 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’20Jul ’20
  2. Material agreement8-K · Sep ’22Sep ’22
  3. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed July 14, 2025. Cited figures are marked; the original filing is the authoritative source.

On July 14, 2025, MicroStrategy Incorporated, d/b/a Strategy, reported at-the-market (ATM) activity and bitcoin holdings for the period July 7 to July 13, 2025.

During that week, the company sold 797,008 shares of Class A Common Stock (MSTR) under its common ATM, which has a $21 billiona size and was established May 1, 2025. Its preferred stock ATM programs sold 573,976 STRK shares, 444,005 STRF shares, and 158,278 STRD shares. Combined net proceeds across all four programs were $472.3 million, with the common ATM contributing $330.9 million.

Available capacity as of July 13, 2025 was $17,779.8 millionb for the common ATM, $20,450.9 million for STRK, $1,881.3 million for STRF, and $4,185.0 million for STRD. The company stated that its bitcoin purchases were made using proceeds from the MSTR, STRK, STRF, and STRD ATM programs. During the same week it acquired 4,225 bitcoin for an aggregate purchase price of $472.5 million, at an average purchase price of $111,827 per bitcoin, inclusive of fees and expenses.

As of July 13, 2025, aggregate bitcoin holdings were 601,550, with an aggregate purchase price of $42.87 billionc and an average purchase price of $71,268 per bitcoin. Under Item 7.01, the company noted that it maintains a dashboard at www.strategy.com as a channel for public disclosure, including market prices of its securities, bitcoin purchases and holdings, and KPI metrics, and that it uses this channel for Regulation FD purposes. The Item 7.01 information is furnished rather than filed for purposes of Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. Net proceeds from all four ATM programs totaled $472.3 million for the period July 7 to July 13, 2025, with the common ATM contributing $330.9 million.
  2. The company acquired 4,225 bitcoin during the week for an aggregate purchase price of $472.5 million, at an average of $111,827 per bitcoin, inclusive of fees and expenses.
  3. Aggregate bitcoin holdings reached 601,550 as of July 13, 2025, with an aggregate purchase price of $42.87 billion and an average purchase price of $71,268.
  4. The company stated that bitcoin purchases were funded with proceeds from the MSTR, STRK, STRF, and STRD ATM programs.
  5. Remaining ATM capacity as of July 13, 2025 was $17,779.8 million for the common ATM, $20,450.9 million for STRK, $1,881.3 million for STRF, and $4,185.0 million for STRD.
  6. The STRD ATM program, with a $4.2 billion size, was established July 7, 2025, the same week covered by this report.
  7. The company furnished information under Item 7.01 and directed investors to its strategy.com dashboard for KPIs, market prices, and bitcoin data.

03—Questions

Frequently Asked Questions

  1. How much capital did the company raise through its ATM programs in the week covered by this filing?

    Net proceeds across the four ATM programs totaled $472.3 million for July 7 to July 13, 2025. The common ATM contributed $330.9 million, STRK contributed $71.1 million, STRF contributed $55.3 million, and STRD contributed $15.0 million.

  2. How many bitcoin did the company acquire, and at what price?

    The company acquired 4,225 bitcoin during the period for an aggregate purchase price of $472.5 million, at an average purchase price of $111,827 per bitcoin, inclusive of fees and expenses.

  3. What are the company's total bitcoin holdings and their cost basis?

    As of July 13, 2025, aggregate holdings were 601,550 bitcoin, with an aggregate purchase price of $42.87 billion and an average purchase price of $71,268 per bitcoin, inclusive of fees and expenses.

  4. How are the bitcoin purchases funded?

    The filing states that the bitcoin purchases were made using proceeds from the MSTR, STRK, STRF, and STRD ATM programs.

  5. How much capacity remains under each ATM program?

    As of July 13, 2025, $17,779.8 million remained available under the common ATM, $20,450.9 million under the STRK ATM, $1,881.3 million under the STRF ATM, and $4,185.0 million under the STRD ATM.

04—Continue

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