MicroStrategy Sells Shares, Updates Bitcoin Holdings

MicroStrategy Incorporated (NASDAQ:MSTR), a company specializing in finance services with a market capitalization of $96 billion, disclosed significant financial activities in its latest Form 8-K filing with the Securities and Exchange Commission today. The company’s stock has shown remarkable momentum, gaining 16% in the past week alone, according to InvestingPro data.

From April 21 to April 27, 2025, MicroStrategy sold 4,020,000 shares of its Class A Common Stock, generating $1.40 billion in net proceeds, with an additional $128.7 million worth of shares available for sale. Concurrently, the company sold 435,069 shares of its 8.00% Series A Perpetual Strike Preferred Stock (NASDAQ:STRK), raising $37.5 million, leaving $20.92 billion worth of STRK shares available for future sale. InvestingPro analysis indicates the company operates with a moderate level of debt, maintaining a debt-to-equity ratio of 0.4.

The company also reported on its cryptocurrency holdings, revealing the purchase of 15,355 bitcoins at an aggregate price of $1.42 billion, with an average purchase price of $92,737 per bitcoin. As of April 27, MicroStrategy’s total bitcoin holdings amounted to 553,555 bitcoins, acquired at an aggregate purchase price of $37.90 billion and an average price of $68,459 per bitcoin. The bitcoin acquisitions were funded using proceeds from the sales of both common and preferred shares. With the company’s next earnings report due on May 1, 2025, investors can access comprehensive analysis and 12+ additional key metrics through InvestingPro’s detailed research reports.

MicroStrategy maintains a dashboard on its website, which serves as a channel for public disclosure, including updates on market prices of its securities, bitcoin purchases and holdings, and key performance indicators. This dashboard is part of the company’s efforts to comply with the SEC’s Regulation FD, ensuring broad, non-exclusionary distribution of information to the public.

The information provided in the 8-K filing is not to be considered "filed" under the Securities Exchange Act of 1934, nor incorporated by reference in any other filings, unless specifically referenced in such filings. The report was signed by Executive Vice President & General Counsel W. Ming Shao on behalf of MicroStrategy Incorporated.

In other recent news, MicroStrategy Incorporated has been actively engaging in financial maneuvers involving its at-the-market (ATM) offering programs and Bitcoin investments. From April 14 to April 20, the company sold 1,755,000 shares of its Class A common stock, generating approximately $547.7 million in net proceeds. Additionally, MicroStrategy sold 91,213 shares of its 8.00% Series A perpetual strike preferred stock, resulting in $7.8 million in net proceeds. These proceeds contributed to the purchase of 6,556 bitcoins at an average price of $84,785 per bitcoin. MicroStrategy’s total Bitcoin holdings have now reached 538,200, acquired at an aggregate price of $36.47 billion.

In another development, the company faced a $5.91 billion unrealized loss on its bitcoin holdings for the quarter ending March 31, 2025. This loss was partially offset by a $1.69 billion income tax benefit, as reported in a preannouncement of select first-quarter 2025 results. The loss is attributed to the adoption of new fair-value accounting rules by the Financial Accounting Standards Board (FASB). Despite this, Benchmark analysts maintained their Buy rating and a $650 price target for MicroStrategy shares.

Furthermore, MicroStrategy’s stock performance has been influenced by Bitcoin’s market fluctuations. Recently, the stock closed up 3.9% as Bitcoin prices surged amid broader market concerns. The company’s substantial Bitcoin investments continue to be a focal point for investors, especially given the recent changes in accounting standards and the volatile nature of cryptocurrency valuations.

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