8-K filings › Dec 1, 2025 · covers Nov 17–30
Strategy bought 130 BTC for $11.7M and now holds 650,000 BTC
Average price $89,960 per bitcoin · $11.7M spent on bitcoin · $1.48B raised via MSTR ATM
BTC held
650,000
+130 vs the 8-K of Nov 17, 2025
Cost basis
$48.38B
$74,436 avg per BTC
MSTR ATM sold
$1.48B
8,214,000 shares · $14.37B left
USD Reserve
$1.44B
as filed
mNAV at period end
1.18×
MSTR $177.18 close Nov 28 ÷ $150.69 net reserve per share
Source: Strategy Inc (CIK 0001050446) 8-K 0001193125-25-303157 on SEC EDGAR, via the 8-K Tracker. Rows filed the same day are combined; restated rows aren’t counted twice. mNAV = MSTR close ÷ net reserve per share (BTC at the filing week’s close + USD − senior claims, ÷ shares). Not investment advice.