Business Context and Reporting Period
Strategy Inc filed a Form 8-K on March 16, 2026, reporting updates on its At-The-Market (ATM) equity offering program and Bitcoin (BTC) holdings. The data reflects activity during the period of March 9, 2026, to March 15, 2026, with cumulative totals as of March 15, 2026.
Key Financial Metrics
ATM Offering Activity (March 9–15, 2026)
| Security | Shares Sold | Notional Value ($M) | Net Proceeds ($M) | Available for Sale ($M) |
|---|---|---|---|---|
| STRC (Variable Rate Preferred) | 11,818,467 | 1,181.8 | 1,180.4 | 1,975.8 |
| MSTR (Class A Common) | 2,833,668 | - | 396.0 | 6,316.8 |
| STRF, STRK, STRD | 0 | 0 | 0 | 25,965.7 |
| Total | - | 1,181.8 | 1,576.4 | - |
Bitcoin Holdings (As of March 15, 2026)
- Aggregate Holdings: 761,068 BTC
- Total Purchase Price: $57.61 billion
- Average Purchase Price: $75,696 per BTC
- Recent Acquisitions (Mar 9–15): 22,337 BTC for $1.57 billion (Avg: $70,194)
Material Changes
During the reporting week, Strategy Inc raised approximately $1.58 billion in net proceeds through the sale of preferred and common stock. These proceeds were immediately utilized to acquire 22,337 additional Bitcoin. The average purchase price for the new BTC ($70,194) was lower than the company's historical average cost basis ($75,696), effectively lowering the overall weighted average cost of the Bitcoin portfolio.
Outlook and Management Commentary
Management continues to execute a strategy of funding Bitcoin acquisitions through equity issuances under the ATM program. The filing notes that the company maintains a public dashboard for real-time updates on security prices, Bitcoin holdings, and key performance indicators. No specific forward-looking guidance regarding future revenue or profitability was provided in this specific filing.
Investor Verification Checklist
- Verify the current market price of MSTR and preferred shares (STRC, STRF, STRK, STRD) to assess dilution impact.
- Confirm the current spot price of Bitcoin to calculate the unrealized gain/loss on the 761,068 BTC holdings.
- Review the remaining capacity under the ATM program ($25.97 billion in preferred and $6.32 billion in common) to gauge future capital raising potential.
- Check the Strategy Inc website dashboard for any subsequent updates on BTC purchases or holdings post-March 15, 2026.