Strategy Inc reported significant bitcoin-related activity and leadership changes. Between June 29 and July 5, 2026, the company neither sold shares under its at-the-market stock program nor repurchased any shares under its buyback programs.
During June 29–30, it sold 1,363 bitcoin for $80.8 million at an average price of $59,256, and during July 1–5 it sold 2,225 bitcoin for $135.2 million at an average price of $60,773. As of July 5, 2026, Strategy held 843,775 bitcoin with an aggregate purchase price of $63.69 billion and an average purchase price of $75,476, while maintaining a $2.55 billion USD reserve.
For Q2 2026, the company expects an $8.32 billion loss on digital assets, almost entirely unrealized, and a digital asset carrying value of $49.67 billion. Because the cost basis of its bitcoin exceeded fair value as of June 30, 2026, Strategy will record a valuation allowance fully offsetting its deferred tax benefit and deferred tax asset tied to this unrealized loss. The board also designated CFO Andrew Kang as principal accounting officer following the retirement of Chief Accounting Officer Jeanine Montgomery.
Strategy Inc introduced a new Digital Credit Capital Framework that links its bitcoin holdings, preferred securities, and equity capital structure. The company set a Board-approved USD Reserve policy, with a reserve balance of $2.55 billion as of June 28, 2026, dedicated to preferred dividends and interest.
Strategy authorized repurchase programs of up to $1.0 billion for its Digital Credit Securities and up to $1.0 billion for its class A common stock, alongside a BTC Monetization Program to raise up to $1.25 billion for the reserve, servicing obligations, and funding repurchases. It held 847,363 BTC at an aggregate purchase price of $64.10 billion.
The company revised its STRC dividend policy and increased the STRC dividend rate to 12.00% per annum for periods with record dates on or after July 1, 2026. The board conditionally declared semi-monthly STRC cash dividends of $0.50 per share for periods ending July 31 and August 15, 2026, which it currently expects to be treated as non-taxable returns of capital for many U.S. holders.
Strategy Inc director Jarrod M. Patten reported an option exercise and related share sale. He exercised 1,500 shares of Class A common stock at $18.236 per share through a director stock option, then sold 1,500 shares in an open-market transaction at $106.08 per share, leaving 28,406 Class A shares held directly and 41,250 director stock options outstanding.
MSTR amends its STRC preferred stock prospectus to permit semi-monthly dividends and confirm an at-the-market shelf. The supplement updates the Variable Rate Series A Perpetual Stretch Preferred Stock Annex to reflect an Amended and Restated Certificate of Designations filed June 15, 2026 and effective June 30, 2026, changing declared regular dividends to be payable semi-monthly on the 15th and last calendar day of each month. The supplement references an at-the-market program to offer up to $21,000,000,000 of STRC Stock and states the last reported sale price of STRC Stock was $87.31 per share on June 23, 2026.
MSTR reported insider sales via a Form 144 notice: the filing lists multiple Class A share dispositions by Jarrod M. Patten, primarily as stock option exercise cash sales. The excerpts show individual sales such as 05/29/2026 of 15,050 shares for $2,331,812.78 and 05/28/2026 of 7,250 shares for $1,071,080.23. The filing lists many additional sale dates and amounts from 03/26/2026 through 06/23/2026, indicating ongoing dispositions reported under the Form 144 process.
Strategy Inc President & CEO Phong Le, through the Phong Le Revocable Trust, reported an open-market purchase of 11,000 shares of Series A Perpetual Stretch Preferred Stock at a weighted average price of $90.796 per share. The shares were bought in multiple trades between $90.66 and $90.87. After this transaction, the trust holds 11,000 Stretch preferred shares. Separately, Le directly holds 126,323 shares of Class A Common Stock, 8,009 shares of Stretch preferred, 6,000 shares of Strife preferred, and 4,500 shares of Stride preferred, plus smaller indirect Stretch preferred holdings for three minor children.
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.
Strategy Inc director Jarrod M. Patten reported an option exercise and related share sale. On June 17, 2026, he exercised options to acquire 1,500 shares of Class A Common Stock at $18.236 per share and sold 1,500 Class A shares at $121.31 per share.
After these transactions, he directly holds 28,406 Class A shares. He also holds 5,000 shares of Series A Perpetual Stride Preferred Stock, 29,335 shares of Series A Perpetual Stretch Preferred Stock, 10,000 shares of Series A Perpetual Strife Preferred Stock, and 42,750 director stock options that vested over prior years.
Strategy Inc director Jarrod M. Patten reported an exercise-and-sell transaction in Class A Common Stock. On June 15, 2026, he exercised 1,500 Director Stock Options at $18.236 per share to acquire 1,500 common shares, then sold 1,500 Class A shares in an open-market transaction at a weighted-average price of $133.967 per share. Following these transactions, he directly holds 28,406 Class A Common shares and retains 44,250 options on Class A Common Stock expiring on May 31, 2027. He also reports direct holdings of 5,000 shares of Series A Perpetual Stride Preferred Stock, 29,335 shares of Series A Perpetual Stretch Preferred Stock, and 10,000 shares of Series A Perpetual Strife Preferred Stock.
Strategy Inc executive Thomas C. Chow, EVP & General Counsel, bought preferred stock in the company. On this Form 4, he reported open-market purchases of 11 shares of Series A Perpetual Strike Preferred Stock at $66.10 per share and 100 shares of Series A Perpetual Stretch Preferred Stock at $92.71 per share.
All 111 shares are held directly, and the post-transaction holdings for each preferred series match the amounts purchased, indicating new positions rather than additions to prior stakes.