Strategy, the Bitcoin treasury company formerly known as MicroStrategy, has disclosed another round of bitcoin sales even as its chief executive signaled a return to aggressive accumulation later this year.
In an August 10 SEC filing, the company reported selling 1,690 bitcoin between August 3 and August 9 at an average price of $64,262 per coin, generating $108.6 million in proceeds. Every dollar of the sale was directed toward repurchasing 1.15 million shares of its STRC preferred stock, a product that had drifted from its intended trading value and needed stabilization.
Alongside the bitcoin sale, Strategy raised $653.1 million through at-the-market sales of 6.59 million shares of its MSTR common stock. Of that amount, $650 million was channeled into the company’s U.S. dollar reserve, lifting it to $4.65 billion as of August 9, up from $4 billion just one week earlier. The remaining $3.1 million was added to cash.
The latest transaction brings Strategy’s total bitcoin sales in 2026 to 6,916 coins across multiple tranches. The company still holds approximately 840,447 BTC acquired for $63.36 billion at an average price of $75,385 per coin, meaning the most recent sales were executed at a significant loss relative to its overall cost basis. Despite the selling, CEO Phong Le told investors on August 10 that Strategy intends to resume bitcoin purchases before the end of 2026.
Le characterized the sales as tactical moves designed to optimize the firm’s capital structure rather than a shift in its long-term Bitcoin thesis. The company has bought roughly 25 times more BTC than it has sold this year, supporting the narrative that the disposals are a temporary measure. The primary goal is to normalize STRC’s trading price, which in turn supports future capital raises needed to fund additional bitcoin acquisitions.
Strategy has pursued this model since 2020, when executive chairman Michael Saylor first adopted Bitcoin as the company’s primary treasury reserve asset. The firm funds purchases through a combination of convertible notes, preferred equity offerings, and direct equity sales, effectively using traditional capital markets to accumulate the cryptocurrency at scale. The STRC product, a preferred stock instrument, plays a key role in that financing machinery.
The sales have unnerved some investors who viewed Strategy as a committed long-term holder. For a company whose brand identity is built around never selling bitcoin, even small-scale disposals carry outsized symbolic weight. However, with bitcoin trading around $64,000, roughly 49% below its October 2025 all-time high of $126,080, the company’s overall position remains deeply underwater on a cost-basis basis, adding pressure to maintain financial flexibility.
Sources: CoinDesk, Yahoo Finance, Crypto Briefing
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