---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-413164"
form_type: "8-K"
ticker: "MSTR"
cik: "0001050446"
company_name: "Strategy Inc"
filed_at: "2026-10-05T12:00:15+00:00"
generated_at: "2026-10-12T14:45:09.153297+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Strategy estimates $20.91B Q3 digital asset gain; holds 848,000 BTC and reverses $4.12B tax allowance

## Summary
- Q3 2026 estimate: $20.91B gain on digital assets and $1.88B deferred tax expense; digital asset carrying value was $70.82B as of Sept. 30, 2026.
- Reversed $4.12B deferred tax asset and released related valuation allowance, creating approx. $4.12B income tax benefit and cutting estimated deferred tax expense from ~$6.00B to $1.88B.
- Bitcoin holdings were 848,000 BTC at Oct. 4, 2026, aggregate purchase price $63.97B and average $75,440.7; Oct. 1-4 purchases were 334 BTC for $28.7M at $85,838.8 average.
- ATM: sold 92,894 MSTR shares Oct. 1-4 for $15.7M net, used to buy bitcoin; no STRF/STRC/STRK/STRD sales; $18.83B MSTR and $1.62B STRF issuance capacity remains.
- Repurchased 1,033,168 STRC shares for $102.6M Sept. 28-30 and 740,634 for $73.7M Oct. 1-4; $547.2M preferred buyback capacity and $1.0B MSTR buyback remain; USD Reserve $4.88B, USD Cash $833.4M.

## SEC filing metadata
- accession: 0001193125-26-413164
- form_type: 8-K
- ticker: MSTR
- cik: 0001050446
- company_name: Strategy Inc
- filed_at: 2026-10-05T12:00:15+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050446/000119312526413164/0001193125-26-413164-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050446/000119312526413164/mstr-20261005.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-413164
- JSON: https://secwatch.observer/filing/0001193125-26-413164.json
- Plain text: https://secwatch.observer/filing/0001193125-26-413164.txt

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