Key Takeaways
- • Strategy sold 1,690 BTC for $108.6 million (average price: $64,262 per coin) between August 3–9, 2026, marking the second consecutive week of Bitcoin sales to fund share buybacks.
- • All proceeds deployed for STRC buyback: Strategy repurchased 1,152,020 shares of its STRC preferred stock (yielding 11.5% with monthly payouts) for the full $108.6 million raised.
- • Bitcoin holdings decline to 840,447 BTC following the sale, while the company's average purchase price per coin remains ~$75,385—indicating an unrealized loss on this week's sales.
- • USD reserves strengthened to $4.65 billion through concurrent sales of MSTR (MicroStrategy) shares via an at-the-market (ATM) offering program, improving liquidity position.
- • Systematic capital reallocation underway: Consecutive weekly Bitcoin liquidations signal an active strategy to manage the company's "increasingly complicated capital stack" by converting volatile digital assets into preferred equity buybacks and cash reserves.
Summary
Strategy, which maintains the largest corporate Bitcoin treasury, executed its second consecutive week of Bitcoin sales on August 3–9, 2026, selling 1,690 BTC for $108.6 million at an average price of $64,262 per coin. According to SEC filings, the entire proceeds were deployed immediately to repurchase 1,152,020 shares of the company's STRC preferred stock—a perpetual security offering an 11.5% annual yield with monthly dividend payouts. This buyback activity reflects management's strategy to support the preferred equity while simultaneously reducing Bitcoin exposure.
The sale reduced Strategy's total Bitcoin holdings to 840,447 BTC, a material decline from the prior period. Notably, the company's average purchase price across its entire portfolio remains approximately $75,385 per coin, meaning the current week's sales were executed at a substantial discount to the cost basis—a loss position that underscores the tactical nature of these liquidations. The decision to sell Bitcoin at sub-cost levels for preferred stock repurchases signals confidence in the preferred equity's yield and structural positioning relative to continued Bitcoin holding.
Concurrent with the Bitcoin sales, Strategy raised an additional $653.1 million through MSTR share offerings via an at-the-market program, driving total USD reserves to $4.65 billion. This dual-track capital activity—converting both BTC and MSTR equity into cash and preferred shares—indicates a deliberate rebalancing of the company's capital structure to enhance liquidity and support ongoing STRC buyback programs. The pattern of weekly Bitcoin sales represents a shift in operational posture, moving from passive accumulation toward active portfolio management to sustain preferred dividend obligations and maintain strategic flexibility.
The sale reduced Strategy's total Bitcoin holdings to 840,447 BTC, a material decline from the prior period. Notably, the company's average purchase price across its entire portfolio remains approximately $75,385 per coin, meaning the current week's sales were executed at a substantial discount to the cost basis—a loss position that underscores the tactical nature of these liquidations. The decision to sell Bitcoin at sub-cost levels for preferred stock repurchases signals confidence in the preferred equity's yield and structural positioning relative to continued Bitcoin holding.
Concurrent with the Bitcoin sales, Strategy raised an additional $653.1 million through MSTR share offerings via an at-the-market program, driving total USD reserves to $4.65 billion. This dual-track capital activity—converting both BTC and MSTR equity into cash and preferred shares—indicates a deliberate rebalancing of the company's capital structure to enhance liquidity and support ongoing STRC buyback programs. The pattern of weekly Bitcoin sales represents a shift in operational posture, moving from passive accumulation toward active portfolio management to sustain preferred dividend obligations and maintain strategic flexibility.
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