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Strategy 8-K Report, Regulation FD Disclosure (Oct 5, 2026)

Reports
Regulation FD·Other Events
Filing Date
Filed October 5, 2026
Period End
October 5, 2026
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 · Nov ’21Nov ’21
  2. Leadership change8-K · Dec ’25Dec ’25

01—Abstract

Summary

Summary of the 8-K filed October 5, 2026. Cited figures are marked; the original filing is the authoritative source.

Strategy Inc (MSTR) filed this Form 8-K on October 5, 2026 to report updates on its at-the-market (ATM) sales, bitcoin holdings, share repurchases, capital reserves, and preliminary third-quarter 2026 financial estimates.

Under the ATM program, no preferred stock or Class A Common Stock was sold during September 28 to September 30, 2026. During October 1 to October 4, 2026, Strategy sold 92,894 shares of MSTR Class A Common Stock, generating $15.7 milliona in net proceeds, which were used to fund bitcoin purchases. As of October 4, 2026, Strategy held 848,000 bitcoin, with an aggregate purchase price of $63.97 billion and an average purchase price of $75,440.7 per bitcoin.

Bitcoin purchases during October 1 to October 4 totaled $28.7 millionb, funded by $15.7 million from MSTR stock sales and $13.0 million of USD Cash. Strategy also repurchased preferred stock under its digital credit securities repurchase program: 1,033,168 STRC shares for $102.6 million during September 28 to September 30, and 740,634 STRC shares for $73.7 million during October 1 to October 4. As of October 4, 2026, the USD Reserve stood at $4.88 billion and USD Cash at $833.4 million.

For the third quarter ended September 30, 2026, Strategy estimated a $20.91 billionc gain on digital assets and $1.88 billion of associated deferred tax expense. Its digital asset carrying value was estimated at $70.82 billion as of that date.

The estimate reflects the release of a valuation allowance against a $4.12 billiond deferred tax asset, which reduced estimated deferred tax expense from approximately $6.00 billion to $1.88 billion. These financial figures are management estimates and have not been audited or reviewed by KPMG LLP.

02—Key points

Key Highlights

  1. Bitcoin holdings reached 848,000 as of October 4, 2026, up from 847,666 as of September 30, 2026, with an aggregate purchase price of $63.97 billion.
  2. Strategy sold 92,894 shares of MSTR Class A Common Stock during October 1 to October 4, 2026, generating $15.7 million in net proceeds that were used to buy bitcoin; no preferred stock was sold under the ATM program in either period.
  3. Strategy repurchased 1,033,168 STRC shares ($102.6 million) in the September 28 to 30 period and 740,634 STRC shares ($73.7 million) in the October 1 to 4 period.
  4. Estimated Q3 2026 gain on digital assets of $20.91 billion, with estimated deferred tax expense of $1.88 billion after a roughly $4.12 billion income tax benefit from releasing a valuation allowance.
  5. Digital asset carrying value estimated at $70.82 billion as of September 30, 2026, with a net deferred tax liability of $1.88 billion related to bitcoin holdings.
  6. USD Reserve of $4.88 billion and USD Cash of $833.4 million as of October 4, 2026, with $142.5 million of the USD Reserve used for dividends and interest during the reporting week.
  7. Remaining repurchase capacity: $620.9 million under the digital credit securities program as of September 30 (reduced to $547.2 million by October 4) and $1.0 billion under the MSTR Stock repurchase program.

03—Questions

Frequently Asked Questions

  1. How much bitcoin does Strategy hold and at what cost?

    As of October 4, 2026, Strategy held 848,000 bitcoin with an aggregate purchase price of $63.97 billion, an average purchase price of $75,440.7 per bitcoin, with purchase prices inclusive of fees and expenses.

  2. Did Strategy raise capital through its at-the-market program in this period?

    Only through MSTR Class A Common Stock. Strategy sold 92,894 shares during October 1 to October 4, 2026, for $15.7 million in net proceeds, which funded bitcoin purchases. No STRF, STRC, STRK or STRD shares were sold in either period. Remaining ATM capacity was $18.84 billion for MSTR stock as of October 4, 2026.

  3. What did Strategy estimate for its third-quarter 2026 financial results?

    Strategy estimated a $20.91 billion gain on digital assets and $1.88 billion of associated deferred tax expense for the three months ended September 30, 2026. These estimates were prepared by management and have not been audited or reviewed by KPMG LLP.

  4. Why did deferred tax expense fall from the initial estimate?

    Because fair value of bitcoin exceeded its cost basis as of September 30, 2026, Strategy reversed a $4.12 billion deferred tax asset recorded at June 30, 2026, and released the related valuation allowance. This approximately $4.12 billion income tax benefit reduced estimated deferred tax expense from about $6.00 billion to $1.88 billion.

  5. How is Strategy funding its dividends, interest and preferred stock repurchases?

    Strategy maintains a USD Reserve, intended to support preferred dividends and debt interest, and USD Cash for broader purposes. During September 28 to October 4, 2026, it used $142.5 million of the USD Reserve for dividends and interest, and $154.1 million of USD Cash to repurchase STRC stock. As of October 4, 2026, the USD Reserve was $4.88 billion and USD Cash was $833.4 million.

04—Continue

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