Strategy Inc (NASDAQ: MSTR) outlines ATM share sales, BTC purchases and $1B reserve

Rhea-AI Filing Summary

Strategy Inc reported recent activity in its at-the-market stock offering, bitcoin acquisitions, and U.S. dollar reserve levels. Between June 1 and June 7, 2026, it sold 1,409,600 shares of MSTR Stock under its ATM program, generating net proceeds of $181.0M, with $25,956.1M of MSTR Stock capacity still available for issuance and sale as of June 7, 2026.

Over the same period, Strategy acquired 1,550 bitcoin for an aggregate purchase price of $101.3M, at an average price of $65,332 per bitcoin. As of June 7, 2026, it held 845,256 bitcoin purchased for an aggregate $63.97B, an average price of $75,680 per bitcoin. The company also reported a USD Reserve balance of $1.0B as of June 7, 2026, designated to support preferred dividends and interest on outstanding debt.

Insights

Capital markets and balance sheet analyst

Strategy is funding large bitcoin purchases with new ATM equity while maintaining a sizable cash reserve.

Strategy Inc used its at-the-market program to sell 1,409,600 MSTR shares for net proceeds of $181.0M between June 1 and June 7, 2026. As of June 7, 2026, it still had $25,956.1M of MSTR Stock capacity available for issuance and sale, plus substantial unused capacity in multiple preferred stock series.

The company applied ATM proceeds to acquire 1,550 bitcoin for $101.3M at an average of $65,332 per bitcoin. This lifted total holdings to 845,256 bitcoin, bought for $63.97B at an average cost of $75,680. A dedicated USD Reserve of $1.0B as of June 7, 2026 is designated to support preferred dividends and interest payments.

The snapshot highlights an ongoing strategy of issuing equity to expand bitcoin holdings while preserving a defined liquidity cushion for fixed obligations. Subsequent filings may provide further detail on utilization of the remaining ATM capacity and any changes in bitcoin holdings or reserve levels.

8-K Event Classification

2 items: 7.01, 8.01

2 items

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.

Key Figures

MSTR shares sold: 1,409,600 shares Net ATM proceeds: $181.0M Remaining MSTR ATM capacity: $25,956.1M +5 more

8 metrics

MSTR shares sold 1,409,600 shares Sold under ATM between June 1–7, 2026

Net ATM proceeds $181.0M Net of commissions for June 1–7, 2026 MSTR sales

Remaining MSTR ATM capacity $25,956.1M Available for issuance and sale as of June 7, 2026

BTC acquired in period 1,550 BTC Purchased June 1–7, 2026 using ATM proceeds

BTC purchase cost in period $101.3M Aggregate purchase price June 1–7, 2026, incl. fees

Average BTC price in period $65,332 Average purchase price per bitcoin June 1–7, 2026

Total BTC holdings 845,256 BTC Aggregate holdings as of June 7, 2026

USD Reserve balance $1.0B Management-designated reserve as of June 7, 2026

Key Terms

at-the-market offering program, USD Reserve, preferred stock, Regulation FD, +1 more

5 terms

at-the-market offering program financial

"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.

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.

dividends financial

"intended to support the payment of dividends on Strategy’s preferred stock"

Dividends are cash payments a company gives to its shareholders from profits or cash reserves, effectively sharing part of its earnings with owners. They matter to investors because they provide a steady income stream, act like an interest or rent payment on owning the stock, and signal management’s confidence in the business—factors that influence total return and share price. Regular or special dividends can change an investor’s income and reinvestment strategy.

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Understanding 8-K Material Events →

false000105044600010504462026-05-042026-05-040001050446mstr:M1000SeriesAPerpetualStrifePreferredStock0001ParValuePerShareMember2026-02-232026-02-230001050446mstr:VariableRateSeriesAPerpetualStretchPreferredStock0001ParValuePerShareMember2026-02-232026-02-2300010504462026-02-232026-02-230001050446mstr:M800SeriesAPerpetualStrikePreferredStock0001ParValuePerShareMember2026-02-232026-02-230001050446us-gaap:CommonStockMember2026-02-232026-02-230001050446mstr:M1000SeriesAPerpetualStridePreferredStock0001ParValuePerShareMember2026-02-232026-02-23

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 8, 2026

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 8, 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 1, 2026 to June 7, 2026									As of June 7, 2026
Security		Shares Sold(1)			Notional Value (in millions) (2)			Net Proceeds (in millions) (3)			Available for Issuance and Sale (in millions)(4)
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			1,409,600		$	-		$	181.0		$	25,956.1
Class A Common Stock
Total								$	181.0

(1) Includes shares sold but not yet settled as of June 5, 2026.

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

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

(4) 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 8, 2026, Strategy announced updates with respect to its bitcoin holdings:

During Period June 1, 2026 to June 7, 2026										As of June 7, 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)
	1,550		$	101.3		$	65,332				845,256		$	63.97		$	75,680

(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 7, 2026, the balance of the USD Reserve is $1.0 Billion. This amount includes expected cash proceeds from shares sold under Strategy’s ATM that had not yet settled as of such date.

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 8, 2026				Strategy Inc (Registrant)
				By:		/s/ Thomas C. Chow
				Name:		Thomas C. Chow
				Title:		Executive Vice President & General Counsel

FAQ

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

Strategy Inc sold 1,409,600 MSTR shares through its at-the-market program between June 1 and June 7, 2026. These sales generated about $181.0 million in net proceeds, after sales commissions, according to the company’s disclosure for that period.

What ATM capacity for MSTR Stock did Strategy Inc have remaining as of June 7, 2026?

As of June 7, 2026, Strategy Inc reported $25,956.1 million of MSTR Stock available for issuance and sale under its ATM offerings. This figure reflects the combined remaining capacity of the current offering and the previously announced $21.0 billion “MSTR Increase.”

How much bitcoin did Strategy Inc buy between June 1 and June 7, 2026, and at what price?

Between June 1 and June 7, 2026, Strategy Inc acquired 1,550 bitcoin for an aggregate purchase price of $101.3 million. The average purchase price during this period was $65,332 per bitcoin, inclusive of fees and expenses, using proceeds from ATM share sales.

What are Strategy Inc’s total bitcoin holdings and cost basis as of June 7, 2026?

As of June 7, 2026, Strategy Inc held 845,256 bitcoin with an aggregate purchase price of $63.97 billion. The company’s disclosed average purchase price across all bitcoin holdings was $75,680 per bitcoin, including related fees and expenses.

What is Strategy Inc’s USD Reserve balance and purpose as of June 7, 2026?

Strategy Inc reported a $1.0 billion USD Reserve balance as of June 7, 2026. Management designates this reserve to help support payment of dividends on preferred stock and interest on outstanding indebtedness, including expected cash proceeds from ATM share sales not yet settled.

How is Strategy Inc using proceeds from its ATM equity sales according to the June 2026 update?

Strategy Inc stated that bitcoin purchases during June 1–7, 2026 were made using proceeds from ATM share sales. It sold 1,409,600 MSTR shares for $181.0 million net, then applied $101.3 million of this to acquire 1,550 bitcoin at an average price of $65,332.

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