Business Context and Reporting Period
This Form 8-K Current Report was filed by MicroStrategy Incorporated (d/b/a Strategy) on March 3, 2025. The report covers events occurring between February 24, 2025, and March 2, 2025, specifically regarding the company's At-The-Market (ATM) equity offering program, Bitcoin holdings, and preferred stock dividend declarations.
Key Financial Metrics and Holdings
- Bitcoin Holdings: As of March 2, 2025, the company held approximately 499,096 bitcoins.
- Acquisition Cost: The aggregate purchase price for these holdings was approximately $33.1 billion.
- Average Cost Basis: The average purchase price was approximately $66,357 per bitcoin, inclusive of fees and expenses.
- Preferred Stock Dividend: A quarterly cash dividend of approximately $1.24 per share was declared for the 8.00% Series A Perpetual Strike Preferred Stock (STRK).
- Dividend Payment Date: March 31, 2025.
- Record Date: March 15, 2025.
Material Changes and Activity
- ATM Program Activity: During the period from February 24, 2025, to March 2, 2025, the company did not sell any shares of Class A common stock under its ATM program.
- Bitcoin Purchases: The company did not purchase any bitcoin during the same period.
- Dividend Proration: The declared dividend amount was prorated to reflect the quarterly dividend accrued from the STRK issuance date of February 5, 2025.
Guidance, Outlook, and Risks
The filing contains forward-looking statements regarding future expectations, including the declaration and payment of dividends on the STRK preferred stock. The company disclaims any obligation to update these statements. Investors are directed to the "Risk Factors" section of the Annual Report on Form 10-K filed on February 18, 2025, for a discussion of uncertainties related to market conditions and other risks. The company utilizes its website dashboard (www.strategy.com) as a disclosure channel for non-public information regarding market prices, bitcoin holdings, and KPI metrics.
Investor Verification Checklist
- Verify the current market price of Bitcoin to assess the unrealized gain or loss on the $33.1 billion aggregate holding.
- Confirm the record date (March 15, 2025) and payment date (March 31, 2025) for the STRK preferred stock dividend.
- Review the Form 10-K filed on February 18, 2025, for detailed risk factors and financial context not included in this 8-K.
- Monitor the company's website dashboard for real-time updates on bitcoin purchases and holdings.