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Strategy Inc (MSTR) sells shares, boosts bitcoin holdings and $1.4B cash reserve

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Strategy Inc provided an update on its at-the-market stock offering, bitcoin purchases, and cash reserves. Between June 15 and June 21, 2026, the company sold 2,714,839 shares of its Class A common stock (MSTR) under its ATM program, generating net proceeds of $335.5 million. As of June 21, 2026, $25.411 billion of MSTR stock remained available for issuance and sale across its current ATM and the previously announced MSTR Increase.

Over the same period, Strategy acquired 520 bitcoin for an aggregate purchase price of $34.9 million, at an average price of $67,068 per bitcoin. As of June 21, 2026, the company held 847,363 bitcoin with an aggregate purchase price of $64.10 billion and an average cost of $75,651 per bitcoin, including fees and expenses. The filing also notes that the company’s US dollar reserve balance was $1.4 billion as of June 21, 2026, intended to support preferred dividends and interest on indebtedness.

Positive

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Insights

Strategy is aggressively using its ATM to fund large bitcoin holdings while maintaining a sizable cash reserve.

Strategy Inc sold 2,714,839 MSTR shares for net proceeds of $335.5M under its at-the-market program during the June 15–21, 2026 period. As of June 21, 2026, it still had MSTR issuance capacity of $25.411B, giving considerable flexibility to raise additional equity capital.

The company used ATM proceeds to acquire 520 bitcoin at an average price of $67,068, bringing total holdings to 847,363 bitcoin with an aggregate cost of $64.10B and an average cost of $75,651. This highlights substantial balance sheet exposure to bitcoin prices. In parallel, Strategy reports a US dollar reserve of $1.4B as of June 21, 2026, designated to support preferred dividends and interest on debt, which may help manage credit perceptions of its Digital Credit securities.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
MSTR shares sold 2,714,839 shares Sold under ATM program during June 15–21, 2026
Net ATM proceeds $335.5 million Net of sales commissions for June 15–21, 2026 ATM sales
Remaining MSTR issuance capacity $25.411 billion Available for issuance and sale as of June 21, 2026
Bitcoin acquired in period 520 BTC Purchased June 15–21, 2026 using ATM proceeds
Average BTC purchase price (period) $67,068 Average price per bitcoin June 15–21, 2026, inclusive of fees
Total bitcoin holdings 847,363 BTC Aggregate holdings as of June 21, 2026
Aggregate BTC purchase price $64.10 billion Total cost of bitcoin holdings as of June 21, 2026
US dollar reserve balance $1.4 billion Reserve balance as of June 21, 2026
at-the-market offering program financial
"Strategy announced an update with respect to sales made under its at-the-market offering program"
An at-the-market offering program lets a company sell newly issued shares directly into the open market at current trading prices through a broker, rather than issuing a large block of stock all at once. It matters to investors because it provides the company a flexible way to raise cash over time, which can dilute existing shares gradually and affect earnings per share and stock price depending on how much and when shares are sold—think of it as a faucet the company can open or close to add supply to the market.
USD Reserve financial
"it established a US dollar reserve (the "USD Reserve"), a management designated portion"
USD reserve means holdings of U.S. dollars that an organization—such as a government, central bank, company or investment fund—keeps set aside to meet obligations, support operations, or manage currency exposure. Investors care because the size and liquidity of those dollar reserves affect an entity’s ability to pay debts, weather shocks, and pursue opportunities; think of it like a rainy-day fund or foreign-currency piggy bank that provides stability and flexibility.
Digital Credit securities financial
"to support the credit quality of its Digital Credit securities"
preferred stock financial
"intended to support the payment of dividends on Strategy’s preferred stock"
Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.
Regulation FD regulatory
"as one means of disclosing non-public information in compliance with its disclosure obligations under Regulation FD"
Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.
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Understanding 8-K Material Events →
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 22, 2026

 

img19670983_0.gif

STRATEGY INC

(Exact name of registrant as specified in its charter)

 

 

Delaware

001-42509

51-0323571

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

 

1850 Towers Crescent Plaza

Tysons Corner, Virginia

22182

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (703) 848-8600

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

Trading
Symbol

Name of Each Exchange

on which Registered

10.00% Series A Perpetual Strife Preferred Stock, $0.001 par value per share

 

STRF

 

 

The Nasdaq Global Select Market

 

Variable Rate Series A Perpetual Stretch Preferred Stock, $0.001 par value per share

 

STRC

 

 

The Nasdaq Global Select Market

 

8.00% Series A Perpetual Strike Preferred Stock, $0.001 par value per share

 

STRK

 

 

The Nasdaq Global Select Market

 

10.00% Series A Perpetual Stride Preferred Stock, $0.001 par value per share

 

STRD

 

 

The Nasdaq Global Select Market

 

Class A common stock, $0.001 par value per share

 

MSTR

 

 

The Nasdaq Global Select Market

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 8.01 Other Events.

 

ATM Update

On June 22, 2026, Strategy Inc ("Strategy") announced an update with respect to sales made under its at-the-market offering program ("ATM") of the following securities:

 

 

 

 

 

 

 

 

During Period June 15, 2026 to June 21, 2026

 

As of June 21, 2026

 

Security

 

Shares Sold

 

Notional Value (in millions) (1)

 

Net Proceeds (in millions) (2)

 

Available for Issuance and Sale (in millions)(3)

 

STRF Stock

 

 

-

 

$

-

 

$

-

 

$

1,619.3

 

10.00% Series A Perpetual Strife Preferred Stock

 

 

 

 

 

 

 

 

 

STRC Stock

 

 

-

 

$

-

 

$

-

 

$

17,510.8

 

Variable Rate Series A Perpetual Stretch Preferred Stock

 

 

 

 

 

 

 

 

 

STRK Stock

 

 

-

 

$

-

 

$

-

 

$

2,100.0

 

8.00% Series A Perpetual Strike Preferred Stock

 

 

 

 

 

 

 

 

 

STRD Stock

 

 

-

 

$

-

 

$

-

 

$

4,014.8

 

10.00% Series A Perpetual Stride Preferred Stock

 

 

 

 

 

 

 

 

 

MSTR Stock

 

 

2,714,839

 

$

-

 

$

335.5

 

$

25,411.0

 

Class A Common Stock

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

$

335.5

 

 

 

 

(1) The total face value of the shares of preferred stock sold, which is used to calculate dividends thereon.

(2) Net proceeds are presented net of sales commission.

(3) As previously disclosed, on March 23, 2026, Strategy announced a new $21.0 billion offering of MSTR Stock (the “MSTR Increase”). The MSTR Stock amount available for issuance reflects the aggregate remaining capacity of both the current offering and the MSTR Increase. Sales under the MSTR Increase may begin once capacity under the existing offering is substantially depleted.

 

BTC Update

On June 22, 2026, Strategy announced updates with respect to its bitcoin holdings:

During Period June 15, 2026 to June 21, 2026

 

As of June 21, 2026

BTC Acquired (1)

Aggregate Purchase Price (in millions) (2)

Average Purchase Price (2)

 

Aggregate BTC Holdings

Aggregate Purchase Price (in billions) (2)

Average Purchase Price (2)

520

$34.9

$67,068

 

847,363

$64.10

$75,651

 

(1) The bitcoin purchases were made using proceeds from the sale of shares under the ATM.

(2) Aggregate and average purchase prices are inclusive of fees and expenses.

 

 

 

 

 

 

 

 

 

 

USD Reserve Update

 

On December 1, 2025, Strategy announced that it established a US dollar reserve (the "USD Reserve"), a management designated portion of Strategy’s liquidity intended to support the payment of dividends on Strategy’s preferred stock and interest on its outstanding indebtedness.

 

As of June 21, 2026, the balance of the USD Reserve is $1.4 billion. This amount includes expected cash proceeds from shares sold under Strategy’s ATM that had not yet settled as of such date.

 

Strategy plans to continue replenishing the USD Reserve over time based on market conditions to support the credit quality of its Digital Credit securities.

 

 

 

Item 7.01 Regulation FD Disclosure.

 

Strategy Dashboard

Strategy also maintains a dashboard on its website (www.strategy.com) as a disclosure channel for providing broad, non-exclusionary distribution of information regarding Strategy to the public, including information regarding market prices of its outstanding securities, bitcoin purchases and holdings, certain key performance indicator metrics and other supplemental information, and as one means of disclosing non-public information in compliance with its disclosure obligations under Regulation FD. Investors and others are encouraged to regularly review the information that Strategy makes public via the website dashboard.

Furnished Information

 

The information disclosed pursuant to Item 7.01 in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

 

 

 

 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

 

Date: June 22, 2026

Strategy Inc

(Registrant)

 

 

 

 

 

 

By:

/s/ Thomas C. Chow

 

 

Name:

Thomas C. Chow

 

 

Title:

Executive Vice President & General Counsel

 

 

 

 

Source: View Original Filing on SEC EDGAR

FAQ

How many MSTR shares did Strategy Inc (MSTR) sell under its ATM program in June 2026?

Strategy sold 2,714,839 MSTR shares under its at-the-market program between June 15 and June 21, 2026. These sales generated $335.5 million in net proceeds, after commissions, providing additional equity capital for its bitcoin strategy and general corporate purposes.

What is Strategy Inc’s remaining MSTR stock capacity under its ATM and MSTR Increase?

As of June 21, 2026, Strategy had $25.411 billion of MSTR stock available for issuance and sale. This figure reflects the combined remaining capacity of the existing ATM offering and the previously announced $21.0 billion MSTR Increase program.

How much bitcoin did Strategy Inc (MSTR) buy during June 15–21, 2026 and at what price?

During June 15–21, 2026, Strategy acquired 520 bitcoin for an aggregate purchase price of $34.9 million. The average purchase price was $67,068 per bitcoin, inclusive of fees and expenses, funded using proceeds from MSTR share sales under the ATM program.

What are Strategy Inc’s total bitcoin holdings and cost basis as of June 21, 2026?

As of June 21, 2026, Strategy held 847,363 bitcoin in aggregate. The total purchase price of these holdings was $64.10 billion, implying an average acquisition cost of $75,651 per bitcoin, including applicable fees and expenses reported in the update.

How large is Strategy Inc’s US dollar reserve and what is its purpose?

As of June 21, 2026, Strategy’s US dollar reserve totaled $1.4 billion. This management-designated reserve supports payment of dividends on preferred stock and interest on outstanding indebtedness, and includes expected cash proceeds from unsettled ATM share sales reflected in the balance.

How does Strategy Inc disclose ongoing bitcoin and securities data to investors?

Strategy maintains an online dashboard at www.strategy.com as a broad disclosure channel. The dashboard provides data on market prices of its securities, bitcoin purchases and holdings, key performance indicators, and supplemental information, supporting its Regulation FD compliance and public transparency efforts.

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