How were the recent bitcoin purchases funded?

The 21,021 bitcoin acquired during July 28 to August 3, 2025 were made using proceeds from the STRC Offering, according to the filing.

Did Strategy sell common or preferred stock through its ATM programs in this period?

The filing reports no shares sold under any at-the-market program during July 28 to August 3, 2025, with notional value and net proceeds shown as zero for each program.

What were the terms and proceeds of the STRC Offering?

On July 29, 2025, the company completed the STRC Offering of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock at $90.00 per share. Gross proceeds were approximately $2.521 billion and net proceeds approximately $2.47 billion after underwriting discounts, commissions, and estimated offering expenses.

Where does Strategy disclose information for investors on an ongoing basis?

The company maintains a dashboard on its website (www.strategy.com) that it uses as a disclosure channel for broad, non-exclusionary distribution of information, including market prices of its securities, bitcoin purchases and holdings, KPI metrics, and supplemental information, and as one means of complying with Regulation FD. Investors are encouraged to review it regularly.

Strategy 8-K: Regulation FD

01—Abstract

Summary

Summary of the 8-K filed August 4, 2025. Cited figures are marked; the original filing is the authoritative source.

On August 4, 2025, MicroStrategy Incorporated d/b/a Strategy ("Strategy") filed an 8-K disclosing updates to its at-the-market (ATM) offering programs and its bitcoin holdings.

The filing reports no shares sold under any ATM program during the period July 28 to August 3, 2025. Remaining capacity as of August 3, 2025 was $17,042.7 million^a under the Common ATM (Class A Common Stock), $20,450.2 million under the STRK ATM, $1,881.1 million under the STRF ATM, $4,182.0 million under the STRD ATM, and $4,200.0 million under the STRC ATM, with a total of $-, as shown in the filing's table. The filing also discloses that on July 29, 2025, the company completed its STRC Offering of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock at $90.00 per share, with gross proceeds of approximately $2.521 billion and net proceeds of approximately $2.47 billion.

Strategy reported acquiring 21,021 bitcoin during the period July 28 to August 3, 2025, at an aggregate purchase price of $2.46 billion^b and an average purchase price of $117,256 per bitcoin, funded by proceeds from the STRC Offering. As of August 3, 2025, aggregate bitcoin holdings were 628,791 BTC, with an aggregate purchase price of $46.08 billion and an average purchase price of $73,277 per bitcoin, with purchase prices inclusive of fees and expenses.

The filing also references the company's Strategy dashboard on its website (www.strategy.com), which it uses as a Regulation FD disclosure channel. Information furnished under Item 7.01 is stated not to be deemed filed for purposes of Section 18 of the Exchange Act.

02—Key points

Key Highlights

Bitcoin holdings reached 628,791 BTC as of August 3, 2025, with an aggregate purchase price of $46.08 billion and an average purchase price of $73,277 per bitcoin.
During July 28 to August 3, 2025, Strategy acquired 21,021 bitcoin for an aggregate purchase price of $2.46 billion (average $117,256 per bitcoin), funded by STRC Offering proceeds.
The STRC Offering closed July 29, 2025: 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock sold at $90.00 per share, for gross proceeds of approximately $2.521 billion and net proceeds of approximately $2.47 billion.
No shares were sold under any ATM program during the July 28 to August 3, 2025 period.
Remaining ATM capacity as of August 3, 2025 included $17,042.7 million (Common ATM), $20,450.2 million (STRK ATM), $1,881.1 million (STRF ATM), $4,182.0 million (STRD ATM), and $4,200.0 million (STRC ATM).
The STRC ATM program was established July 31, 2025, with a size of $4.2 billion, and the STRD ATM was established July 7, 2025, with a size of $4.2 billion.

03—Questions

Frequently Asked Questions

How much bitcoin does Strategy hold and at what average cost?
As of August 3, 2025, Strategy's aggregate bitcoin holdings were 628,791 BTC, with an aggregate purchase price of $46.08 billion and an average purchase price of $73,277 per bitcoin. Aggregate and average purchase prices are inclusive of fees and expenses.
How were the recent bitcoin purchases funded?
The 21,021 bitcoin acquired during July 28 to August 3, 2025 were made using proceeds from the STRC Offering, according to the filing.
Did Strategy sell common or preferred stock through its ATM programs in this period?
The filing reports no shares sold under any at-the-market program during July 28 to August 3, 2025, with notional value and net proceeds shown as zero for each program.
What were the terms and proceeds of the STRC Offering?
On July 29, 2025, the company completed the STRC Offering of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock at $90.00 per share. Gross proceeds were approximately $2.521 billion and net proceeds approximately $2.47 billion after underwriting discounts, commissions, and estimated offering expenses.
Where does Strategy disclose information for investors on an ongoing basis?
The company maintains a dashboard on its website (www.strategy.com) that it uses as a disclosure channel for broad, non-exclusionary distribution of information, including market prices of its securities, bitcoin purchases and holdings, KPI metrics, and supplemental information, and as one means of complying with Regulation FD. Investors are encouraged to review it regularly.

04—Continue

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