01—Abstract
Summary
Summary of the 8-K filed December 29, 2025. Cited figures are marked; the original filing is the authoritative source.
On December 29, 2025, Strategy Inc (MSTR) filed a Form 8-K under Items 8.01 and 7.01 with weekly updates on its at-the-market (ATM) offering program and its bitcoin holdings, covering the period December 22 to December 28, 2025.
During that period the company sold 663,450 shares of MSTR Class A Common Stock under the ATM, for net proceeds of $108.8 milliona. No shares of its preferred stock (STRF, STRC, STRK, or STRD) were sold in the period. As of December 28, 2025, the filing lists remaining capacity available for issuance of $11,698.9 million for MSTR common stock, $20,335.0 million for STRK, $4,042.4 million for STRC, $4,014.8 million for STRD, and $1,619.3 million for STRF.
The filing states that Strategy acquired 1,229 bitcoin during the period, at an aggregate purchase price of $108.8 millionb and an average purchase price of $88,568 per bitcoin, funded entirely from the MSTR ATM sales. As of December 28, 2025, aggregate bitcoin holdings were 672,497 BTC, with an aggregate purchase price of $50.44 billion and an average purchase price of $74,997 per bitcoin. Aggregate and average purchase prices include fees and expenses.
Under Item 7.01, the company notes that its website dashboard (www.strategy.com) is a Regulation FD disclosure channel that includes market prices of its securities, bitcoin purchases and holdings, key performance indicators, and other information. The Item 7.01 disclosure is furnished rather than filed, so it is not subject to Section 18 of the Exchange Act liabilities.
02—Key points
Key Highlights
- Sold 663,450 shares of MSTR Class A Common Stock under the ATM during December 22 to December 28, 2025, for net proceeds of $108.8 million
- No sales of STRF, STRC, STRK, or STRD preferred stock were made during the reporting period
- Acquired 1,229 bitcoin during the period at an aggregate purchase price of $108.8 million and an average price of $88,568, funded by MSTR ATM sales
- Aggregate bitcoin holdings reached 672,497 BTC as of December 28, 2025, with an aggregate purchase price of $50.44 billion and an average purchase price of $74,997
- Remaining ATM capacity as of December 28, 2025: $11,698.9 million (MSTR), $20,335.0 million (STRK), $4,042.4 million (STRC), $4,014.8 million (STRD), and $1,619.3 million (STRF)
- The company designates its website dashboard as a Regulation FD disclosure channel for market prices, bitcoin holdings, and key performance indicators
03—Questions
Frequently Asked Questions
How did Strategy fund its bitcoin purchases during the period?
The filing states that the 1,229 bitcoin acquired between December 22 and December 28, 2025 were purchased using proceeds from the sale of MSTR Class A Common Stock under the company's ATM program, for an aggregate purchase price of $108.8 million.
What was the company's total bitcoin holding as of December 28, 2025?
As of December 28, 2025, Strategy reported aggregate bitcoin holdings of 672,497 BTC, with an aggregate purchase price of $50.44 billion and an average purchase price of $74,997 per bitcoin, inclusive of fees and expenses.
Did Strategy sell any preferred stock under its ATM program during this period?
No. The filing reports no shares sold and no net proceeds for STRF, STRC, STRK, or STRD preferred stock during December 22 to December 28, 2025. Only MSTR Class A Common Stock was sold, with 663,450 shares sold and $108.8 million in net proceeds.
How much capacity remains available under the ATM program?
As of December 28, 2025, the filing lists $11,698.9 million available for MSTR common stock, $20,335.0 million for STRK, $4,042.4 million for STRC, $4,014.8 million for STRD, and $1,619.3 million for STRF.
Are the Item 7.01 disclosures considered filed with the SEC?
No. The filing states that information furnished under Item 7.01, including the website dashboard disclosures, is not deemed filed for purposes of Section 18 of the Exchange Act and is not incorporated by reference into other filings unless specifically referenced.
04—Continue