Business Context and Reporting Period
Strategy Inc filed a Form 8-K on July 13, 2026, reporting current events for the period ending July 12, 2026. The company operates an at-the-market (ATM) offering program for various preferred and common stock classes and maintains a significant Bitcoin (BTC) treasury strategy alongside a USD reserve for liquidity management.
Key Financial Metrics
- ATM Proceeds: Generated $466.7 million in net proceeds from the sale of 4,818,781 shares of Class A Common Stock (MSTR) during the week of July 6–12, 2026.
- Bitcoin Holdings: Holds 843,775 BTC with an aggregate purchase price of $63.69 billion and an average purchase price of $75,476 per BTC.
- Liquidity: Maintains a USD Reserve of $3.0 billion as of July 12, 2026, intended to support preferred stock dividends and debt interest.
- ATM Capacity: $23,790.3 million remains available for issuance of MSTR common stock. Significant capacity remains for preferred stock classes STRF ($1,619.3M), STRC ($17,510.8M), STRK ($2,100.0M), and STRD ($4,014.8M).
- Share Repurchases: No shares were repurchased during the reporting period.
Material Changes
During the reporting week, Strategy Inc did not acquire any additional Bitcoin, resulting in no change to aggregate holdings or average purchase price. The company executed sales of common stock under its ATM program, reducing the available issuance capacity for MSTR stock while increasing cash reserves. No sales were recorded for any of the preferred stock classes (STRF, STRC, STRK, STRD) during this specific week.
Outlook, Risks, and Management Commentary
Management continues to utilize the ATM program to raise capital, with a previously announced $21.0 billion increase in MSTR offering capacity (the "MSTR Increase") pending activation once current capacity is substantially depleted. The company emphasizes the importance of its USD Reserve to meet fixed obligations. No specific forward-looking guidance on revenue or profit was provided in this filing, as it focuses on capital structure and asset holdings. Investors are directed to the company's website dashboard for real-time updates on Bitcoin holdings and market prices.
Investor Verification Checklist
- Verify the settlement status of the 4,818,781 MSTR shares sold, as the filing notes some may not have settled as of July 10, 2026.
- Confirm the current market price of Bitcoin relative to the company's average purchase price of $75,476 to assess unrealized gains or losses.
- Monitor the depletion rate of the current MSTR ATM capacity to determine when the $21.0 billion "MSTR Increase" will become active.
- Review the composition of the $3.0 billion USD Reserve to ensure it remains sufficient for upcoming dividend and interest payments.