01—Abstract
Summary
Summary of the 8-K filed July 28, 2025. Cited figures are marked; the original filing is the authoritative source.
On July 28, 2025, MicroStrategy Incorporated d/b/a Strategy ("Strategy") reported updates to its at-the-market (ATM) offering programs for the week of July 21 to July 27, 2025.
No shares were sold under any of the four programs during that period. As of July 27, 2025, the amounts still available for issuance and sale were $17,042.7 milliona under the Common ATM (Class A Common Stock, $21 billion program established May 1, 2025), $20,450.2 million under the STRK ATM (8.00% series A perpetual strike preferred stock, $21 billion program established March 10, 2025), $1,881.1 million under the STRF ATM (10.00% series A perpetual strife preferred stock, $2.1 billion program established May 22, 2025), and $4,182.0 million under the STRD ATM (10.00% series A perpetual stride preferred stock, $4.2 billion program established July 7, 2025). On the bitcoin front, the filing states that no bitcoin purchases were made during the week of July 21 to July 27, 2025.
Aggregate bitcoin holdings as of July 27, 2025 were 607,770 BTC, with an aggregate purchase price of $43.61 billionb (inclusive of fees and expenses) and an average purchase price of $71,756 per bitcoin. The filing also incorporates a Regulation FD disclosure under Item 7.01, stating that the company uses its website dashboard (www.strategy.com) as a channel for broad public distribution of information, including securities market prices, bitcoin purchases and holdings, and KPI metrics. The information furnished under Item 7.01 is not deemed filed for Section 18 purposes.
02—Key points
Key Highlights
- No shares were sold under the Common ATM, STRK ATM, STRF ATM, or STRD ATM during the week of July 21 to July 27, 2025.
- Remaining capacity as of July 27, 2025: $17,042.7 million (Common ATM), $20,450.2 million (STRK ATM), $1,881.1 million (STRF ATM), and $4,182.0 million (STRD ATM).
- The STRD ATM, the newest program, was established July 7, 2025 with a $4.2 billion size, the largest of the preferred programs after the STRK ATM.
- No bitcoin purchases were made during the week of July 21 to July 27, 2025.
- Aggregate bitcoin holdings were 607,770 BTC as of July 27, 2025.
- Aggregate purchase price of holdings was $43.61 billion, inclusive of fees and expenses, at an average purchase price of $71,756 per bitcoin.
- The company designates its website dashboard (www.strategy.com) as a Regulation FD disclosure channel for market prices, bitcoin holdings, and KPI metrics.
03—Questions
Frequently Asked Questions
Did Strategy raise capital through its ATM programs during the week reported?
No. The filing reports no shares sold under the Common ATM, STRK ATM, STRF ATM, or STRD ATM for the period July 21 to July 27, 2025.
How much capacity remains under the company's at-the-market programs?
As of July 27, 2025, the filing shows $17,042.7 million available under the Common ATM, $20,450.2 million under the STRK ATM, $1,881.1 million under the STRF ATM, and $4,182.0 million under the STRD ATM.
Did Strategy buy more bitcoin during the reported week?
No. The filing states that no bitcoin purchases were made during the week of July 21 to July 27, 2025.
What is Strategy's total bitcoin position as of July 27, 2025?
The filing reports aggregate holdings of 607,770 BTC, with an aggregate purchase price of $43.61 billion (inclusive of fees and expenses) and an average purchase price of $71,756 per bitcoin.
Where does Strategy publish information for investors on an ongoing basis?
The company maintains a dashboard on its website, www.strategy.com, which it uses as a Regulation FD disclosure channel for market prices of its securities, bitcoin purchases and holdings, KPI metrics, and other supplemental information.
04—Continue