FILINGStrategy (MSTR) · 8-K · accepted Monday, Aug 18, 2025, 8:00 AM ET
Strategy bought 430 BTC, bringing its total to 629,376 BTC; raised $50.4M selling STRD and STRF and STRK
From Strategy’s 8-K, accepted by the SEC on Aug 18, 2025 at 8:00 AM ET, covering Aug 11 to Aug 17.
What it says
Strategy reports ATM activity for Aug 11-17, 2025 (STRK, STRF, STRD sales), a purchase of 430 BTC for $51.4M bringing holdings to 629,376 BTC, and updated MSTR equity issuance guidance tied to mNAV.
The numbers
| Bitcoin bought | 430 BTC | Aug 11 to Aug 17 |
| Average price | $119,666 | per bitcoin |
| Cost | $51.4M | |
| Bitcoin held after | 629,376 BTC | |
| ATM capacity left | $17.04B | as of Aug 17 |
| ATM capacity left · STRC | $4.20B | as of Aug 17 |
| ATM capacity left · STRD | $4.17B | as of Aug 17 |
| ATM capacity left · STRF | $1.85B | as of Aug 17 |
| ATM capacity left · STRK | $20.43B | as of Aug 17 |
| ATM net proceeds · STRD | $12.1M | as of Aug 17 |
| ATM net proceeds · STRF | $19.0M | as of Aug 17 |
| ATM net proceeds · STRK | $19.3M | as of Aug 17 |
| ATM shares sold | 0 shares | as of Aug 17 |
| ATM shares sold · STRC | 0 shares | as of Aug 17 |
| ATM shares sold · STRD | 140,789 shares | as of Aug 17 |
| ATM shares sold · STRF | 162,670 shares | as of Aug 17 |
| ATM shares sold · STRK | 179,687 shares | as of Aug 17 |
| Average bitcoin cost | $73,320 | as of Aug 17 |
| Total bitcoin cost | $46.15B | as of Aug 17 |
What it changed
Bitcoin held
628,946 BTCbefore
629,376 BTCafter this filing
From the filing
mNAV
1.77xAug 15 close
1.77xpro forma at Aug 15’s prices
1.77xAug 18 close
Enterprise value (diluted market value plus debt and preferreds, minus cash) ÷ bitcoin held. Pro forma: this filing’s bitcoin at the previous close’s prices
Sats per diluted share
198,801Aug 15 close
198,937Aug 18 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
127.4 yrsAug 15 close
125.2 yrsAug 18 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet). A year of dividends went from $580.2M to $584.6M: a new preferred counts once Strategy’s reported cash and bitcoin include the money it raised, and this filing is the first that does
Also that day
Source
Form 8-K filed by Strategy Inc with the SEC, accepted Monday, Aug 18, 2025, 8:00 AM ET. Accession 0000950170-25-109566.
Summary and figures read from the filing by Orange Paper’s filing reader and checked before publishing. Calculations (pro forma and close figures) are ours.