FILINGStrategy (MSTR) · 8-K · accepted Monday, Nov 10, 2025, 8:00 AM ET
Strategy bought 487 BTC, bringing its total to 641,692 BTC; raised $50.0M selling STRC and STRD and STRF and STRK
From Strategy’s 8-K, accepted by the SEC on Nov 10, 2025 at 8:00 AM ET, covering Nov 3 to Nov 9.
What it says
Strategy's 8-K reports ATM sales of STRF, STRC, STRK and STRD and the purchase of 487 bitcoin for the period November 3-9, 2025, bringing holdings to 641,692 BTC.
The numbers
| Bitcoin bought | 487 BTC | Nov 3 to Nov 9 |
| Average price | $102,557 | per bitcoin |
| Cost | $49.9M | |
| Bitcoin held after | 641,692 BTC | |
| ATM capacity left | $15.85B | as of Nov 9 |
| ATM capacity left · STRC | $4.17B | as of Nov 9 |
| ATM capacity left · STRD | $4.13B | as of Nov 9 |
| ATM capacity left · STRF | $1.64B | as of Nov 9 |
| ATM capacity left · STRK | $20.34B | as of Nov 9 |
| ATM net proceeds | $0 | as of Nov 9 |
| ATM net proceeds · STRC | $26.2M | as of Nov 9 |
| ATM net proceeds · STRD | $1.0M | as of Nov 9 |
| ATM net proceeds · STRF | $18.3M | as of Nov 9 |
| ATM net proceeds · STRK | $4.5M | as of Nov 9 |
| ATM shares sold | 0 shares | as of Nov 9 |
| ATM shares sold · STRC | 262,311 shares | as of Nov 9 |
| ATM shares sold · STRD | 12,800 shares | as of Nov 9 |
| ATM shares sold · STRF | 165,614 shares | as of Nov 9 |
| ATM shares sold · STRK | 50,881 shares | as of Nov 9 |
| Average bitcoin cost | $74,079 | as of Nov 9 |
| Total bitcoin cost | $47.54B | as of Nov 9 |
What it changed
Bitcoin held
641,205 BTCbefore
641,692 BTCafter this filing
From the filing
mNAV
1.39xNov 7 close
1.39xpro forma at Nov 7’s prices
1.34xNov 10 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
200,237Nov 7 close
200,389Nov 10 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
101.2 yrsNov 7 close
103.1 yrsNov 10 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet). A year of dividends went from $655.6M to $660.5M: 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, Nov 10, 2025, 8:00 AM ET. Accession 0001193125-25-273310.
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.