On May 12, 2025, MicroStrategy Incorporated (Nasdaq: MSTR), a leader in enterprise analytics and mobility software, announced significant updates to its at-the-market (ATM) stock offerings and Bitcoin (BTC) holdings in a recent SEC Form 8-K filing. This update provides detailed insights into MicroStrategy’s capital raising activities and its ongoing commitment to Bitcoin investment strategy, vital data for investors and market analysts assessing the firm’s financial positioning and strategic direction.
From May 5 to May 11, 2025, MicroStrategy sold 3,222,875 shares of its Class A common stock via its Common ATM program, generating net proceeds of approximately $1.31 billion.
The Common ATM program, established on May 1, 2025, has an available issuance capacity for 19.69 billion shares, reflecting the company’s preparedness to leverage equity capital efficiently.
Concurrently, 273,987 shares of 8.00% Series A Perpetual Strike Preferred Stock (STRK) were sold, delivering net proceeds of $25.1 million. The STRK ATM program, operational since March 10, 2025, allows issuance of up to 20.85 billion shares.
Total ATM proceeds in the period exceeded $1.34 billion, reinforcing the company’s ability to capitalize on market opportunities and reinforce liquidity.
Reflecting the company’s strategic focus on cryptocurrency, during the same week, MicroStrategy acquired 13,390 Bitcoin for \(1.34 billion at an average purchase price of approximately \)99,856 per Bitcoin.
As of May 11, 2025, MicroStrategy’s aggregate Bitcoin holdings stood at 568,840 BTC with an aggregate book value of \(39.41 billion, averaging a purchase price of around \)69,287 per Bitcoin.
Notably, Bitcoin acquisitions were funded through proceeds from the Common ATM and STRK ATM programs, spotlighting an integrated capital allocation strategy leveraging equity issuance to expand cryptocurrency assets.
MicroStrategy reported total revenue of \(463.5 million and a net loss of approximately \)1.167 billion for the full fiscal year 2024, illustrating ongoing investments and volatility associated with its Bitcoin exposure.
The company’s balance sheet reflects substantial total assets worth \(25.84 billion and liabilities of approximately \)7.61 billion as of December 31, 2024, underscoring strong asset backing despite operational losses.
In prior earnings calls, MicroStrategy’s management has emphasized Bitcoin as a key strategic asset with plans to increase holdings opportunistically, while actively managing equity capital to balance financial stability.
The recent ATM activities and Bitcoin acquisition reinforce their commitment to this strategy, indicative of a bullish stance on cryptocurrency despite market volatility and economic uncertainty.
MicroStrategy’s update highlights a dual strategy of aggressive capital market utilization through ATM offerings combined with continued expansion of Bitcoin holdings. This approach not only supports liquidity and funding flexibility but also positions the company to capitalize on the high-growth potential of cryptocurrency markets. Investors should monitor ongoing disclosures via MicroStrategy’s dedicated Strategy Dashboard (www.strategy.com) for real-time insights into securities, Bitcoin activities, and key performance indicators.
For detailed source information, please refer to the official MicroStrategy 8-K filing dated May 12, 2025.
MicroStrategy, ATM Offering, Bitcoin Holdings, Cryptocurrency Strategy, Capital Markets