MicroStrategy (MSTR) released Form 8-K on March 17, 2025, detailing recent capital market dynamics and BTC holdings. The company raised funds through a preferred stock offering (ATM, At-The-Market Offering) and used the proceeds to purchase more BTC. As of March 16, 2025, MicroStrategy holds nearly 500,000 BTC, demonstrating its strong confidence in the long-term value of BTC.
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ToggleNo common stock sold, preferred stock raised over $1 billion
According to the disclosure in MicroStrategy's 8-K filing, the company did not sell any common stock from March 10 to 16, 2025, but actively raised funds through the preferred stock ATM program.
On March 10, 2025, MicroStrategy entered into sales agreements with TD Securities, Barclays Capital, Benchmark Company, BTIG, and other financial institutions to issue up to $21 billion of 8.00% Series A Perpetual Preferred Stock (STRK Shares). As of March 16, 2025, the company has sold 123,000 preferred shares through this program, generating net proceeds of approximately $1.07 billion, with approximately $20.99 billion remaining available for issuance.
MicroStrategy continues to increase BTC holdings
MicroStrategy further strengthened its "BTC Standard" strategy, using the proceeds from the preferred stock offering to aggressively purchase BTC.
According to the latest announcement, the company acquired 130 BTC between March 10 and 16, 2025, at a total cost of approximately $107 million, with an average purchase price of $82,981 per BTC (including fees and other expenses).
As of March 16, 2025, MicroStrategy and its subsidiaries hold a total of 499,226 BTC, with a total investment cost of approximately $33.1 billion and an average purchase price of approximately $66,360 per BTC. This makes MicroStrategy one of the publicly traded companies with the largest BTC holdings, further strengthening its position as a corporate-level BTC investor.
Increased transparency: Launch of "Strategy Dashboard"
MicroStrategy also emphasized in the 8-K filing that the "Strategy Dashboard" on the company's website is an important channel for transparent disclosure of information. The dashboard provides real-time market data, including:
- Company stock and preferred stock prices
- BTC purchase and holding data
- Key performance indicators (KPIs)
- Other relevant financial information
MicroStrategy stated that investors can access the latest information on the company's operations and financial condition through this dashboard, ensuring compliance with Regulation FD (Fair Disclosure).
MicroStrategy's recent activities show that the company is actively expanding its BTC holdings through the capital markets, using preferred stock issuance as the primary financing method. As the BTC market fluctuates, the company's "BTC-centric financial strategy" may become a reference model for other companies and will continue to be closely watched by the market.
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Risk Warning
Cryptocurrency investments are highly risky, and their prices may fluctuate dramatically. You may lose your entire principal. Please carefully evaluate the risks.
