Strategy, the software company turned bitcoin treasury vehicle led by Michael Saylor, sold 1,690 BTC for $108.6 million between August 3 and August 9, according to an 8-K filing with the Securities and Exchange Commission. Every dollar of proceeds went toward repurchasing 1,152,020 shares of the company's STRC preferred stock, at an average bitcoin sale price of $64,262.
The company also raised an additional $653.1 million by selling roughly 6.59 million MSTR shares through its at-the-market equity program, lifting its USD reserve to $4.65 billion from $4 billion a week earlier. The combined moves mark the company's sixth consecutive week of net bitcoin selling, bringing total BTC sold in 2026 to 6,916 coins worth roughly $429.35 million, even as the company still holds 840,447 BTC — the largest corporate bitcoin treasury in the world.
Defending STRC, not accumulating BTC
STRC is the variable-rate perpetual preferred stock Strategy issued to help finance its bitcoin accumulation strategy, currently carrying a 12% annualized dividend designed to keep the share price anchored near its $100 par value. Selling bitcoin to fund STRC buybacks signals the company is prioritizing that preferred stock's price stability over adding to its BTC stack during the current stretch — a reversal from Strategy's usual posture as a near-continuous net buyer.
The pause is notable given the company's history. Strategy's own disclosures show BTC holdings climbing every year since its first purchase in 2020 — from 70,470 coins that year to 840,447 as of this month — making the current seven-week buying freeze one of the longer gaps in that run.
Leadership frames it as a long game
Speaking on Fox Business this week, Strategy president Phong Le described the company's roughly 175,000 BTC added so far in 2026 as part of a broader ambition to be the largest institutional holder of bitcoin, comparing the firm's role to that of "the JPMorgan of the digital economy." That framing sits somewhat in tension with the recent selling, though Strategy has consistently maintained that funding preferred-stock obligations through occasional BTC sales is a balance-sheet management tool rather than a change in long-term accumulation strategy.
Related: BlackRock Slashes IBIT Bitcoin Conversion Minimum to $1 Million
Whether the pause extends into a eighth week may hinge on how STRC trades in the coming days — and on whether bitcoin's own price, currently sitting in the mid-$60,000s, gives Strategy room to resume buying without further pressuring the preferred stock it's been working to defend.
