FILINGStrategy (MSTR) · 8-K · accepted Monday, Oct 20, 2025, 7:59 AM ET
Strategy bought 168 BTC, bringing its total to 640,418 BTC; raised $18.9M selling STRD and STRF and STRK
From Strategy’s 8-K, accepted by the SEC on Oct 20, 2025 at 7:59 AM ET, covering Oct 13 to Oct 19.
What it says
Strategy reports ATM activity for Oct 13, 19, 2025 (STRF, STRK, STRD sales; none for STRC or MSTR) and the purchase of 168 BTC, bringing holdings to 640,418 BTC.
The numbers
| Bitcoin bought | 168 BTC | Oct 13 to Oct 19 |
| Average price | $112,051 | per bitcoin |
| Cost | $18.8M | |
| Bitcoin held after | 640,418 BTC | |
| ATM capacity left | $15.91B | as of Oct 19 |
| ATM capacity left · STRC | $4.20B | as of Oct 19 |
| ATM capacity left · STRD | $4.14B | as of Oct 19 |
| ATM capacity left · STRF | $1.69B | as of Oct 19 |
| ATM capacity left · STRK | $20.36B | as of Oct 19 |
| ATM net proceeds · STRD | $2.6M | as of Oct 19 |
| ATM net proceeds · STRF | $11.2M | as of Oct 19 |
| ATM net proceeds · STRK | $5.1M | as of Oct 19 |
| ATM shares sold | 0 shares | as of Oct 19 |
| ATM shares sold · STRC | 0 shares | as of Oct 19 |
| ATM shares sold · STRD | 32,240 shares | as of Oct 19 |
| ATM shares sold · STRF | 100,206 shares | as of Oct 19 |
| ATM shares sold · STRK | 55,001 shares | as of Oct 19 |
| Average bitcoin cost | $74,010 | as of Oct 19 |
| Total bitcoin cost | $47.40B | as of Oct 19 |
What it changed
Bitcoin held
640,250 BTCbefore
640,418 BTCafter this filing
From the filing
mNAV
1.58xOct 17 close
1.58xpro forma at Oct 17’s prices
1.55xOct 20 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
200,053Oct 17 close
200,106Oct 20 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
106.4 yrsOct 17 close
110.2 yrsOct 20 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet). A year of dividends went from $641.2M to $643.0M: 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, Oct 20, 2025, 7:59 AM ET. Accession 0001193125-25-243049.
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.