FILINGStrategy (MSTR) · 8-K · accepted Tuesday, Jan 20, 2026, 8:00 AM ET
Strategy bought 22,305 BTC, bringing its total to 709,715 BTC; raised $2.13B selling common and STRC and STRK
From Strategy’s 8-K, accepted by the SEC on Jan 20, 2026 at 8:00 AM ET, covering Jan 12 to Jan 19.
What it says
Strategy reports ATM sales and bitcoin purchases for Jan 12, 19, 2026: 22,305 BTC bought for about $2.125B, bringing holdings to 709,715 BTC.
The numbers
| Bitcoin bought | 22,305 BTC | Jan 12 to Jan 19 |
| Average price | $95,284 | per bitcoin |
| Cost | $2.13B | |
| Bitcoin held after | 709,715 BTC | |
| ATM capacity left | $8.43B | as of Jan 19 |
| ATM capacity left · STRC | $3.63B | as of Jan 19 |
| ATM capacity left · STRD | $4.01B | as of Jan 19 |
| ATM capacity left · STRF | $1.62B | as of Jan 19 |
| ATM capacity left · STRK | $20.33B | as of Jan 19 |
| ATM net proceeds | $1.83B | as of Jan 19 |
| ATM net proceeds · STRC | $294.3M | as of Jan 19 |
| ATM net proceeds · STRD | $0 | as of Jan 19 |
| ATM net proceeds · STRF | $0 | as of Jan 19 |
| ATM net proceeds · STRK | $3.4M | as of Jan 19 |
| ATM shares sold | 10,399,650 shares | as of Jan 19 |
| ATM shares sold · STRC | 2,945,371 shares | as of Jan 19 |
| ATM shares sold · STRD | 0 shares | as of Jan 19 |
| ATM shares sold · STRF | 0 shares | as of Jan 19 |
| ATM shares sold · STRK | 38,796 shares | as of Jan 19 |
| Average bitcoin cost | $75,979 | as of Jan 19 |
| Total bitcoin cost | $53.92B | as of Jan 19 |
What it changed
Bitcoin held
687,410 BTCbefore
709,715 BTCafter this filing
From the filing
mNAV
1.15xJan 16 close
1.14xpro forma at Jan 16’s prices
1.16xJan 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
195,032Jan 16 close
195,590Jan 20 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
84.0 yrsJan 16 close
77.1 yrsJan 20 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet). A year of dividends went from $808.9M to $842.6M: 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 Tuesday, Jan 20, 2026, 8:00 AM ET. Accession 0001193125-26-016002.
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.