Strategy, the world’s largest corporate Bitcoin holder, sold 1,638 BTC between July 27 and August 2, generating $104.7 million at an average price of $63,957 per coin. The liquidation funded preferred dividend payments and share buybacks as the company shifted toward cash management over Bitcoin accumulation.
The sale marks a continuation of Strategy’s summer 2026 pattern of trimming rather than adding to its Bitcoin position. CEO Phong Le stated that “the company plans to remain a long-term buyer of Bitcoin despite its recent sales,” signaling the move was tactical rather than a strategic pivot away from digital assets.
Dividend and Buyback Deployment
Strategy allocated $52.4 million of the proceeds to preferred dividend payments on STRC shares, which carry a 12% annual dividend rate and a $100 stated value. The company paid $0.50 per share for dividend periods ending August 31 and September 15. An additional $52.3 million went toward repurchasing 912,143 shares of STRC preferred stock.
Management stated it does not intend to recommend a lower dividend rate until STRC trades sustainably near its $100 stated value, indicating the preferred shares remain a capital allocation priority.
Stock Sales and Cash Reserves
Beyond Bitcoin sales, Strategy sold 3,011,361 shares of common stock (MSTR) through its at-the-market (ATM) program, netting $290.6 million. The company deposited $250 million into its USD Reserve, bringing that balance to $4 billion. No shares of STRF, STRK, or STRD were bought back or sold during this period.
The reliance on equity and cash management reflects a broader shift in how Strategy is funding its obligations. The company has leaned more heavily on stock sales rather than accelerating Bitcoin purchases to meet near-term commitments.
Bitcoin Holdings After the Sale
Strategy’s remaining Bitcoin holdings total 842,138 BTC, valued at approximately $54 billion at a $64,000-per-coin benchmark. The company has spent an aggregate $63.5 billion accumulating its Bitcoin position since beginning the strategy in August 2020.
Strategy’s approach to Bitcoin treasury management, which began during the pandemic, sparked a wave of copycat companies adopting similar crypto-treasury strategies. The company remains the largest corporate holder of Bitcoin globally, despite the recent reduction in its stockpile.
