FILINGStrategy (MSTR) · 8-K · accepted Monday, Dec 8, 2025, 7:59 AM ET
Strategy bought 10,624 BTC, bringing its total to 660,624 BTC; raised $963.0M selling common and STRD
From Strategy’s 8-K, accepted by the SEC on Dec 8, 2025 at 7:59 AM ET, covering Dec 1 to Dec 7.
What it says
Strategy reports ATM sales of STRD and MSTR and a purchase of 10,624 bitcoin for the week of December 1, 7, 2025, bringing holdings to 660,624 BTC.
The numbers
| Bitcoin bought | 10,624 BTC | Dec 1 to Dec 7 |
| Average price | $90,615 | per bitcoin |
| Cost | $962.7M | |
| Bitcoin held after | 660,624 BTC | |
| ATM capacity left | $13.45B | as of Dec 7 |
| ATM capacity left · STRC | $4.04B | as of Dec 7 |
| ATM capacity left · STRD | $4.10B | as of Dec 7 |
| ATM capacity left · STRF | $1.64B | as of Dec 7 |
| ATM capacity left · STRK | $20.34B | as of Dec 7 |
| ATM net proceeds | $928.1M | as of Dec 7 |
| ATM net proceeds · STRC | $0 | as of Dec 7 |
| ATM net proceeds · STRD | $34.9M | as of Dec 7 |
| ATM net proceeds · STRF | $0 | as of Dec 7 |
| ATM net proceeds · STRK | $0 | as of Dec 7 |
| ATM shares sold | 5,127,684 shares | as of Dec 7 |
| ATM shares sold · STRC | 0 shares | as of Dec 7 |
| ATM shares sold · STRD | 442,536 shares | as of Dec 7 |
| ATM shares sold · STRF | 0 shares | as of Dec 7 |
| ATM shares sold · STRK | 0 shares | as of Dec 7 |
| Average bitcoin cost | $74,696 | as of Dec 7 |
| Total bitcoin cost | $49.35B | as of Dec 7 |
What it changed
Bitcoin held
650,000 BTCbefore
660,624 BTCafter this filing
From the filing
mNAV
1.26xDec 5 close
1.26xpro forma at Dec 5’s prices
1.27xDec 8 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
197,907Dec 5 close
198,049Dec 8 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
77.1 yrsDec 5 close
78.9 yrsDec 8 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet). A year of dividends went from $772.4M to $776.8M: 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, Dec 8, 2025, 7:59 AM ET. Accession 0001193125-25-310607.
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.