MicroStrategy Expands Bitcoin Reserves While Restructuring Capital Raising and Executive Compensation

Strategy Inc (Ticker: MSTR), formerly MicroStrategy Inc, in November 2025 entered into an integrated omnibus-form at-the-market equity sales agreement with a consortium of financial institutions covering multiple series of preferred stock and its Class A common stock. This arrangement replaces its prior individual sales agreements and reestablishes a flexible, market-based capital-raising vehicle under its automatic shelf registration.

On March 17, 2026, the company disclosed that it granted restricted stock awards vesting over four years to Vice President and Chief Accounting Officer Jin Montgomery, and performance-based restricted shares tied to relative total shareholder return against the Nasdaq Composite over three years to Executive Vice President and General Counsel Thomas Chow—both awards made without cash consideration to align management compensation with long-term performance.

Meanwhile, in the first quarter of 2026, Strategy Inc acquired tens of thousands more Bitcoins, bringing its total holdings above 700,000 coins. In its fourth-quarter 2025 financial results, the company reported substantial fair-value losses on its Bitcoin portfolio and announced it has established approximately $2.25 billion (around ₩3 trillion) in U.S. dollar reserves—enough to cover preferred dividends and interest payments for more than two years—highlighting its dual focus on Bitcoin strategy and capital markets.

Having rebranded from MicroStrategy to Strategy Inc in 2025 and positioned itself as a Bitcoin treasury company, Strategy Inc is now a U.S. technology firm that combines large-scale Bitcoin holdings-based financial products with enterprise analytics software, and ranks among the public companies with the largest Bitcoin reserves.