Company: MSTR
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000950170-25-021814
Chunk: 574

Company: Strategy Inc
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 574
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, 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

     December 31, 2024

    447,470

    $
    38,501.00

    $
    17,228,042

    $
    108,388.88

    $
    48,500,772

    $
    93,390.21

    $
    41,789,317

(a)The “Lowest Market Price Per Bitcoin During Year” represents the lowest market price for one bitcoin reported on the Coinbase exchange during the respective year, without regard to when we purchased any of our bitcoin. 

(b)The “Market Value of Bitcoin Held at End of Year Using Lowest Market Price