Key Takeaways
- • Strategy sold 1,690 Bitcoin for $108.6 million between August 3–9, 2026, at an average net price of $64,262 per BTC, marking its fourth disclosed Bitcoin sale of 2026 and bringing year-to-date sales to 6,948 BTC.
- • The company deployed 100% of Bitcoin sale proceeds to repurchase 1.15 million shares of STRC preferred stock (variable-rate preferred shares designed for monthly dividend payments) at the same $108.6 million valuation.
- • Strategy maintains a holdings cushion of 840,447 Bitcoin purchased for an aggregate $63.36 billion at an average cost basis of $75,385 per BTC, positioning the company well above current market prices despite recent sales.
- • Strategy's US dollar reserve expanded to $4.65 billion as of August 9, up from approximately $4 billion previously, with $650 million of $653.1 million in net proceeds from MSTR stock sales directed to cash reserves to backstop preferred dividend obligations.
- • The company retains $785.2 million in authorized repurchase capacity under its digital credit securities program (STRC preferred stock) and $1 billion available under its Class A common-stock buyback authorization, signaling continued capital deployment optionality.
Summary
Strategy, which operates the largest corporate Bitcoin treasury, executed its fourth Bitcoin liquidation of 2026 by converting 1,690 BTC into $108.6 million during the week of August 3–9. According to an 8-K filing with the US Securities and Exchange Commission, the company sold the Bitcoin at an average net price of $64,262 per unit—a discount to its historical cost basis of $75,385 per BTC including fees and expenses. All proceeds were immediately deployed into repurchasing 1.15 million shares of STRC, Strategy's variable-rate preferred stock designed to distribute monthly dividends to holders.
This transaction represents the second consecutive week of Bitcoin sales for capital allocation purposes. The prior week (July 27–August 2), Strategy sold 1,638 BTC for $104.73 million, also funding STRC repurchases. Year-to-date, the company has disclosed total Bitcoin sales of 6,948 BTC across four separate transactions, yet maintains a fortress balance sheet with 840,447 BTC remaining in treasury. This reserve translates to approximately $54 billion in current market value against a cumulative acquisition cost of $63.36 billion, demonstrating that sales are occurring below historical carrying values.
Concurrently, Strategy expanded its US dollar reserve to $4.65 billion as of August 9, up from approximately $4 billion in the prior week. The filing attributes $650 million of $653.1 million in net proceeds from recent MSTR common-stock sales to this cash buildup, with the balance including expected proceeds from at-the-market equity offerings not yet settled. This cash reserve functions as a liquidity cushion to support STRC preferred dividend obligations and broader operational flexibility.
The company's capital structure retains substantial repurchase authorization headroom: $785.2 million remains available under the digital credit securities program (covering STRC preferred stock) and $1 billion under the Class A common-stock repurchase program. These standing authorizations provide management with ongoing optionality to return capital or manage leverage across its preferred and common equity tiers.
This transaction represents the second consecutive week of Bitcoin sales for capital allocation purposes. The prior week (July 27–August 2), Strategy sold 1,638 BTC for $104.73 million, also funding STRC repurchases. Year-to-date, the company has disclosed total Bitcoin sales of 6,948 BTC across four separate transactions, yet maintains a fortress balance sheet with 840,447 BTC remaining in treasury. This reserve translates to approximately $54 billion in current market value against a cumulative acquisition cost of $63.36 billion, demonstrating that sales are occurring below historical carrying values.
Concurrently, Strategy expanded its US dollar reserve to $4.65 billion as of August 9, up from approximately $4 billion in the prior week. The filing attributes $650 million of $653.1 million in net proceeds from recent MSTR common-stock sales to this cash buildup, with the balance including expected proceeds from at-the-market equity offerings not yet settled. This cash reserve functions as a liquidity cushion to support STRC preferred dividend obligations and broader operational flexibility.
The company's capital structure retains substantial repurchase authorization headroom: $785.2 million remains available under the digital credit securities program (covering STRC preferred stock) and $1 billion under the Class A common-stock repurchase program. These standing authorizations provide management with ongoing optionality to return capital or manage leverage across its preferred and common equity tiers.
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