---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-303157"
form_type: "8-K"
ticker: "MSTR"
cik: "0001050446"
company_name: "Strategy Inc"
filed_at: "2025-12-01T23:59:59+00:00"
generated_at: "2026-05-16T15:50:40.501828+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Strategy establishes $1.44B USD Reserve, updates FY2025 guidance with bitcoin price range $85k-$110k

## Summary
- Sold 8.214M shares of MSTR common stock via ATM for net proceeds $1.478B; used to fund $1.44B USD Reserve.
- Bitcoin holdings: 650,000 BTC (3.1% of total supply); acquired 130 BTC at avg $89,960 during period.
- Dividend rate on STRC increased from 10.50% to 10.75% effective Dec. 1, 2025; quarterly dividends declared on preferred stocks.
- Thomas C. Chow appointed EVP & General Counsel; Wei-Ming Shao retired immediately, advisory role through Dec. 31.
- FY2025 guidance updated: assumes yr-end BTC $85k-$110k; op income $9.5B to -$7.0B; diluted EPS $19.00 to -$17.00.

## SEC filing metadata
- accession: 0001193125-25-303157
- form_type: 8-K
- ticker: MSTR
- cik: 0001050446
- company_name: Strategy Inc
- filed_at: 2025-12-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050446/000119312525303157/0001193125-25-303157-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050446/000119312525303157/d69948d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-303157
- JSON: https://secwatch.observer/filing/0001193125-25-303157.json
- Plain text: https://secwatch.observer/filing/0001193125-25-303157.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.