Strategy sold 1,690 Bitcoin for $108.6 million between August 3 and August 9, at an average price of $64,262 per coin, and used the full proceeds to repurchase shares of its STRC preferred stock. The move, confirmed in an 8-K filing with the SEC, lifted the company's USD reserve by $650 million and extended its cash duration by 143 days to 2.7 years, while tightening STRC's implied BTC credit spread by 10 basis points. As of August 9, Strategy held 840,447 BTC in its treasury alongside a $4.65 billion USD reserve.
News of the sale coincided with a broader pullback in crypto markets: Bitcoin dipped below $64,500 shortly after the disclosure, total crypto market capitalization shed roughly $30 billion, and more than $50 million in leveraged long positions were liquidated within about an hour, though the extent to which Strategy's routine treasury rebalancing — as opposed to broader market conditions — drove that move is unclear.
Part of the largest annual sell-down since 2020
The transaction extends a pattern that has defined Strategy's treasury management for the past six weeks: the company has now sold 6,916 BTC for a combined $429.35 million since early July, using the proceeds almost entirely to buy back STRC — its yield-bearing preferred stock — rather than to accumulate more Bitcoin outright. Taken together with earlier disposals this year, Strategy's 2026 Bitcoin sales now total roughly 5,258 BTC beyond what's reflected in routine rebalancing, the largest amount the company has sold in any calendar year since it first adopted Bitcoin as a treasury asset in 2020.
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Still a net accumulator, on balance
Despite the recent sales, Strategy's overall position has kept growing. The company's own disclosures show BTC holdings expanding every year since 2020 — from 70,470 coins that year to 124,391 in 2021, 132,500 in 2022, 189,150 in 2023, 446,400 in 2024, 672,500 in 2025, and 840,447 year-to-date in 2026, a net increase of roughly 168,000 coins this year alone — accumulation that continues even as some asset managers remain bullish on Bitcoin's trajectory into year-end. That net growth lines up closely with comments from Strategy president and CEO Phong Le, who told Fox Business's Liz Claman this week that the company has bought roughly 175,000 Bitcoin in 2026 to remain the world's largest institutional holder of the asset. "We are the JPMorgan of the digital economy," Le said, framing the periodic STRC-funding sales as balance-sheet management rather than a reversal of the company's accumulation strategy. The disclosure also landed six years to the day after Strategy's first-ever Bitcoin purchase in August 2020.
