Company: MSTR
Filing Date: 2025-01-03
Form Type: DEF 14A
Source: 0001140361-25-000231
Chunk: 180

Company: Strategy Inc
Filing Date: 2025-01-03
Form: DEF 14A
Chunk 180
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 December 31, 
         2023 |
|:-------------------------------------------|:----|--------------:|:----|-------------:|
| Approximate number of bitcoins held        |     |       252,220 |     |      189,150 |
| Digital assets carrying value              |     |    $6,850,879 |     |   $3,626,476 |
| Cumulative digital asset impairment losses |     |    $3,052,820 |     |   $2,269,013 |

The carrying value on the Company’s Consolidated Balance Sheet at each period-end represents the lowest fair value (based on Level 1 inputs in the fair value hierarchy) of the bitcoins at any time since their acquisition. Therefore, these fair value measurements were made during the period from their acquisition through September 30, 2024 or December 31, 2023, respectively, and not as of September 30, 2024 or December 31, 2023, respectively.

F-9

TABLE OF CONTENTS

The following table summarizes the Company’s digital asset purchases and digital asset impairment losses (in thousands, except number of bitcoins) for the periods indicated. The Company did not sell any of its bitcoins during the nine months ended September 30, 2024 or 2023, respectively.

|                                          |     | Three Months Ended 
      September 30, |     |          |     | Nine Months Ended 
     September 30, |     |          |
| 2024                                     |     |               2023 |     |     2024 |     |              2023 |     |          |
| Approximate number of bitcoins purchased |     |             25,889 |     |    5,912 |     |            63,070 |     |   25,745 |
| Digital asset purchases                  |     |         $1,575,073 |     | $161,681 |     |        $4,008,210 |     | $687,959 |
| Digital asset impairment losses          |     |           $412,084 |     |  $33,559 |     |          $783,807 |     |  $76,613 |

From time to time, the Company’s execution partners may extend short-term trade credits to the Company to purchase bitcoin in advance of using cash funds in the Company’s trading account, or allow the Company to make bitcoin purchases on a delayed settlement basis. Trade credits and delayed settlement payments,