Overview
Strategy Inc. disclosed that it sold 1,732,553 shares of common stock last week under its at-the-market offering program, bringing in $209.0 million in net proceeds, according to the company's filing.
Use of proceeds
The company allocated a portion of those proceeds to purchase 1,587 bitcoin, executing the transactions during June 8-14. Strategy spent $100.0 million, including fees and expenses, to acquire those coins at an average price of $63,024 per bitcoin.
Current bitcoin position
Following the purchases, Strategy's total bitcoin holdings stand at 846,842 bitcoin. Those holdings were acquired for an aggregate of $64.07 billion, at an average cost of $75,656 per bitcoin.
Issuance capacity and preferred offerings
The filing also notes that the company continues to have multiple securities available under its ATM program. There is $25.7 billion of remaining capacity for issuance and sale of MSTR common stock. In addition, preferred stock offering capacities remain available as follows: $1.6 billion for STRF, $17.5 billion for STRC, $2.1 billion for STRK, and $4.0 billion for STRD.
USD Reserve and related purpose
Strategy reported a USD Reserve balance of $1.1 billion as of June 14. The company stated this reserve was set up to support dividend payments on preferred stock and interest payments on outstanding debt. The reported balance includes expected cash proceeds from share sales that had not yet settled as of that date.
Capacity increase and timing
In March 2026 the company announced a $21.0 billion increase to its MSTR stock offering capacity. The filing specifies that sales under this expanded capacity may commence once the existing offering capacity is substantially depleted.
Market context
Separately, bitcoin prices were reported to have risen on Monday, recovering after falling below $60,000 in the first week of June.
Key points
- Strategy sold 1,732,553 shares via its ATM program, raising $209.0 million in net proceeds.
- The company used part of those proceeds to buy 1,587 bitcoin for $100.0 million in total, at an average of $63,024 per bitcoin; total bitcoin holdings are 846,842 coins purchased for $64.07 billion at a $75,656 average cost.
- Strategy retains large remaining issuance capacity across common and preferred stock programs and maintains a $1.1 billion USD Reserve to support preferred dividends and interest payments.
Risks and uncertainties
- Settlement timing - the USD Reserve balance includes expected cash proceeds from share sales that had not yet settled, indicating timing and settlement risk for available cash.
- Dilution potential - substantial remaining issuance capacity under the ATM and preferred offerings implies potential future dilution to equity holders if sales occur.
- Market exposure - the company's large bitcoin position and recent purchases expose its balance sheet to bitcoin price volatility, as indicated by recent moves around the $60,000 level.
Note - This report presents the company's disclosures as stated in its filing. It does not add or infer information beyond those disclosures.