Strategy filed its weekly ATM update on February 2, 2026, and the numbers confirm the machine is still running. The company added 855 BTC in the week ending February 1 at an average price of $87,974 per coin, funded entirely through common stock sales under the at-the-market program. Net proceeds from those sales came to $106.1 million.

The headline holding is now 713,502 BTC. Strategy's aggregate average purchase price across the entire position sits at $76,052 per BTC, per the 8-K filed with the SEC.

The ATM Capacity Picture

The more forward-looking disclosure is the capacity table. As of February 1, the $MSTR common stock ATM had $8.06 billion remaining for issuance and sale. That is the primary funding vehicle for Bitcoin acquisitions, and it still has substantial room.

The preferred stock programs add another layer. STRK, the 8% Series A Perpetual Strike Preferred Stock, carries $20.33 billion in remaining ATM capacity. STRC, the variable rate Stretch Preferred Stock, has $3.62 billion available. STRD, the 10% Stride Preferred Stock, has $4.01 billion. STRF, the 10% Strife Preferred Stock, has $1.62 billion. Combined across all four preferred programs and the common stock ATM, Strategy has roughly $37.6 billion in total remaining issuance capacity across its active securities.

None of those preferred programs sold any shares during the January 26 to February 1 period. Only the common stock ATM was active in this window.

Preferred Dividend Declared

The 8-K also discloses a cash dividend declaration on STRC. The board set the February 28, 2026 dividend at $0.9375 per share for the month ending February 28, representing a per annum rate of 11.25%. The record date is February 15, 2026 at 5:00 p.m. New York time.

This is a routine preferred dividend disclosure, not a signal about common equity capital allocation. STRC carries a variable rate structure, and the 11.25% annualized rate for February reflects the terms of that instrument.

Where This Filing Sits in the Broader Picture

Strategy disclosed aggregate fair market value of approximately $64.04 billion as of April 26, 2026, per the May 6 10-Q. That later disclosure provides the most recent filed position value. The February 1 snapshot in this 8-K predates that figure by roughly three months and reflects a smaller holding at a different Bitcoin price environment.

The Filing Risk Score for $MSTR sits at 100, driven by the density of capital markets filings the company generates on a near-weekly basis. The BTC Exposure Score is 85, anchored on the size of the Bitcoin position relative to enterprise value. Those scores reflect disclosure intensity and balance-sheet concentration, not financial distress or directional views.

$MSTR's short-term price trend has been upward over the past three months, with the stock up roughly 26% from its late-February level through May 20. The one-year picture is a different story, with the stock down more than 60% from where it traded a year ago. The 52-week low of $104.17 was set on February 5, 2026, just days after this 8-K was filed. The 52-week high of $457.22 was set in July 2025.

The crypto Fear and Greed index sat at 29 at the time of this analysis, classified as fear, against a Bitcoin dominance reading of 58.1%. Bitcoin's 30-day realized volatility was running at approximately 25.4% annualized, a calm regime relative to historical norms for the asset. That backdrop matters for how the market prices the ATM dilution against the BTC accumulation.

The Monitoring Question

The next weekly 8-K will show whether Strategy continued to draw on the common stock ATM or began activating one of the preferred programs. A shift toward preferred issuance would change the cost of capital calculus for the Bitcoin accumulation strategy. Watch also whether the pace of BTC acquisition accelerates or slows relative to the $106.1 million deployed in this window.

Research only. Not investment advice.