Strategy sold 1,690 BTC for $108.6 million between August 3 and August 9, 2026, at an average price of $64,262 per coin, according to a Form 8-K filing dated August 10. The proceeds were used entirely to repurchase 1.152 million shares of the company's STRC preferred stock, rather than to fund new operations or reduce debt.
The sale brings Strategy's total bitcoin reserve down to 840,447 BTC. It also marks a rare instance of the company selling below its own cost basis: Strategy has spent roughly $63.36 billion acquiring its holdings at an average purchase price of about $75,385 per BTC, meaning this batch went out at close to 15% under what the company originally paid for it.
The Second Sale in Two Weeks
U.Today reported that this is not an isolated transaction. A nearly identical sale the week before — 1,638 BTC for $104.7 million between July 27 and August 2 — brought the two-week total to 3,328 BTC sold for $213.3 million, all funneled into preferred-stock repurchases. Similar disposals in June and July, of 1,363 BTC and 2,225 BTC respectively, suggest a recurring pattern rather than a one-off adjustment: Strategy appears to be using small, regular BTC sales specifically to manage its STRC preferred obligations, distinct from the much larger BTC purchases the company has made elsewhere this year.
A Buyer That Also Sells
The sales stand out because Strategy is still, by a wide margin, the largest corporate holder of bitcoin, and has spent much of 2026 adding to that position through aggressive capital raising — including a reported 22,337 BTC purchase earlier this year funded mainly through STRC preferred shares and equity issuance, part of a stated plan to raise as much as $42 billion over three years for further accumulation. That the same preferred-stock mechanism funding new purchases is now also being serviced by selling BTC illustrates how tightly Strategy's capital structure links its bitcoin position to its equity and preferred-share obligations.
Related: On-Chain Data Flags More BTC Sales From Strategy-Linked Wallet
The stock's premium over the net asset value of its bitcoin holdings has historically moved with bitcoin's own price, carrying a correlation of roughly 0.52 and a beta near 1.77 to BTC over the past year. That relationship means a sale that trims the BTC pile at a below-cost-basis price, even for a legitimate capital-structure reason, carries some risk of pressuring the premium investors have grown accustomed to paying for MSTR shares.
Bitcoin itself has been trading above $65,000 in recent sessions, meaning Strategy's latest sale price of roughly $64,262 per coin lands just below the market's current level — a reminder that even the largest corporate holder isn't always selling at the top of the range.
