Strategy

Strategy Inc.

Treasury Qualification

Treasury classificationBitcoin Treasury Company

Qualification tierCore Directory

Directory statusIncluded

Ownership statusCompany-owned Bitcoin reported by Strategy. As of July 5, 2026, Strategy held 843,775 BTC. The July 2026 disclosure reports a sale of 3,588 BTC to fund preferred-stock distributions and replenish the USD Reserve, but does not identify customer-owned, borrowed, ETF, trust, or third-party-owned Bitcoin in the counted balance.

Strategic intent

Strategy remains a dedicated Bitcoin Treasury Company. Management continues to present Bitcoin as the company's primary treasury reserve asset while maintaining a USD Reserve to support dividends on preferred stock and interest on indebtedness. The July 2026 sale was disclosed as part of liquidity management for preferred-stock distributions and does not change the company's core Bitcoin treasury strategy.

Bitcoin Treasury

BTC counted in directory843,775 BTC

Estimated value$53,723,998,025BTC price retrieved: July 28, 2026 at 19:52 UTC

Holdings as ofJuly 5, 2026

Average purchase price$75,476

Ownership and Restrictions

Component figures are shown only when separately disclosed. “Not separately disclosed” does not imply zero.

Total BTC reported843,775

Unencumbered / unrestrictedNot separately disclosed

Pledged as collateralNot separately disclosed

Loaned to third parties0

Subsidiary-owned0

Other restricted / receivableNot separately disclosed

Latest Financial Results

Reporting period: Form 8-K filed July 6, 2026; Bitcoin holdings as of July 5, 2026

Revenue$124,300,000

Operating income/loss$-14,470,419,000

Net income/loss$-12,542,670,000

Cash$2,207,219,000

Management

Chief executive officer: Phong Le
Chief financial officer: Andrew Kang
Executive chair: Michael J. Saylor

Research Notes

Strategy reported 843,775 BTC as of July 5, 2026, after selling 3,588 BTC between June 29, 2026 and July 5, 2026 for aggregate net proceeds of approximately $216.0 million. The sale consisted of 1,363 BTC sold from June 29 to June 30 at an average sale price of $59,256 and 2,225 BTC sold from July 1 to July 5 at an average sale price of $60,773. Strategy stated that proceeds from the Bitcoin sales were used to fund distributions on preferred stock and replenish the portion of the USD Reserve used for that purpose. As of July 5, 2026, Strategy reported aggregate Bitcoin holdings of 843,775 BTC, aggregate purchase price of approximately $63.69 billion, and average purchase price of $75,476 per BTC. The company also reported a USD Reserve balance of $2.55 billion. No customer, borrowed, ETF, trust, or third-party-owned Bitcoin is included. The reviewed disclosure does not provide a current pledged-versus-unencumbered BTC split, so those structured fields remain unspecified. Update 56: Strategy introduced a revised Bitcoin metrics framework that supplements gross BTC holdings with net shareholder-focused metrics. Strategy continues to report 843,775 BTC in gross Bitcoin reserves, but the revised framework accounts for senior claims, including preferred stock and convertible debt, when assessing net Bitcoin exposure for common shareholders. BTC held remains unchanged in this directory because BTC Treasury Info counts company-held gross BTC while noting capital-structure claims separately for context. Source reviewed: https://www.coindesk.com/markets/2026/07/24/saylor-and-team-overhaul-strategy-s-bitcoin-metrics-as-bear-market-persists

Market Metrics

Company-reported volatile metrics

As of July 25, 2026

These values may change with market conditions and are not included in BTC Treasury Info's verified BTC holdings totals.

mNAV

1.14x

Market to Net Asset Value

Net Leverage

Company-reported

Metric Status

Company-reported volatile metric

Not used in BTC totals

mNAV position 1.14x

Discount 1.0x NAV Premium

This mNAV is above 1.0x, indicating the common equity is trading at a premium to reported net asset value.

mNAV and Net Leverage are volatile market-based metrics reported by Strategy. They may change with MSTR share price, Bitcoin price, USD reserves, debt, preferred stock, and other senior claims. These values are not included in BTC Treasury Info's verified BTC holdings totals.

Company metrics source Company metric notes