---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-327598"
form_type: "8-K"
ticker: "MSTR"
cik: "0001050446"
company_name: "Strategy Inc"
filed_at: "2025-12-22T23:59:59+00:00"
generated_at: "2026-05-16T12:23:11.482037+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Strategy sold 4.5M shares via ATM for $748M net; BTC holdings flat; USD Reserve grows to $2.19B

## Summary
- Sold 4,535,000 shares of Class A common stock via ATM Dec 15-21, net proceeds $747.8M.
- No bitcoin purchases; holdings unchanged at 671,268 BTC, avg purchase price $74,972.
- USD Reserve balance increased to $2.19B from initial $1.44B established Dec 1, 2025.
- Remaining ATM availability $11.81B for common stock; no preferred stock sold this period.

## SEC filing metadata
- accession: 0001193125-25-327598
- form_type: 8-K
- ticker: MSTR
- cik: 0001050446
- company_name: Strategy Inc
- filed_at: 2025-12-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050446/000119312525327598/0001193125-25-327598-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050446/000119312525327598/mstr-20251117.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-327598
- JSON: https://secwatch.observer/filing/0001193125-25-327598.json
- Plain text: https://secwatch.observer/filing/0001193125-25-327598.txt

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