Company: MSTR
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000950170-25-021814
Chunk: 5

Company: Strategy Inc
Filing Date: 2025-02-18
Form: 10-K
Item: Item 2
Chunk 5
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 we purchased bitcoin using $16.330 billion of the net proceeds from our sale of class A common stock under our at-the-market equity offering program, $2.974 billion of the net proceeds from our issuance of the 2029 Convertible Notes, $782.0 million of the net proceeds from our issuance of the 2030 Convertible Notes, $756.0 million of the net proceeds from our issuance of the 2032 Convertible Notes, $592.3 million of the net proceeds from our issuance of the 2031 Convertible Notes, $458.2 million of the net proceeds from our issuance of the 2028 Convertible Notes, and $179.7 million of Excess Cash.

Excess Cash refers to cash in excess of the minimum Cash Assets that we are required to hold under our Treasury Reserve Policy, which may include cash generated by operating activities and cash from the proceeds of financing activities.

The following table shows the approximate number of bitcoins held at the end of each respective period, as well as market value calculations of our bitcoin holdings based on the lowest, highest, and ending market prices of one bitcoin on the Coinbase exchange (our principal market) for each respective year, as further defined below:

    Approximate Number of Bitcoins Held at End of Year

    Lowest Market Price Per Bitcoin During Year (a)

    Market Value of Bitcoin Held at End of Year Using Lowest Market Price (in thousands) (b)

    Highest Market Price Per Bitcoin During Year (c)

    Market Value of Bitcoin Held at End of Year Using Highest Market Price (in thousands) (d)

    Market Price Per Bitcoin at End of Year (e)

    Market Value of Bitcoin Held at End of Year Using Ending Market Price (in thousands) (f)

     December 31, 2022

    132,500

    $
    15,460.00

    $
    2,048,450

    $
    48,240.00

    $
    6,391,800

    $
    16,556.32

    $
    2,193,712

     December 31, 2023

    189,150

    $
    16,490.00

    $
    3,119,084

    $
    45,000.00

    $
    8,511,750

    $
    42,531.41

    $
    8,044,816