Strategy Sells 1,690 Bitcoin to Fund STRC Buyback and Bolster Cash Reserves
Key Takeaways
- •Strategy sold 1,690 Bitcoin for $108.6 million, reducing its total holdings from 842,138 coins to 840,447 coins.
- •The proceeds were directed toward repurchasing 1,152,020 shares of STRC preferred stock valued at $109 million, following a period when the stock traded below its $100 stated amount.
- •As of August 9, 2026, the company held $4.65 billion in cash reserves and had not made any new Bitcoin purchases since June.
- •CEO Phong Le stated that the company plans to remain a long-term buyer of Bitcoin and is not concerned about the ongoing bear market.
- •Strategy has spent over $63.5 billion accumulating Bitcoin since adopting its treasury strategy in 2020 and remains the world's largest corporate holder of the cryptocurrency.
Strategy, the prominent Bitcoin treasury company, announced on Monday that it sold a portion of its Bitcoin holdings last week, utilizing the proceeds to fund a buyback of its preferred stock and further bolster its substantial cash reserves. The sale marks a rare departure for a company that has overwhelmingly functioned as a net Bitcoin accumulator since adopting its treasury strategy.
In a filing with the Securities and Exchange Commission (SEC), the Nasdaq-listed firm—formerly known as MicroStrategy—disclosed the sale of 1,690 Bitcoin for $108.6 million. This strategic transaction slightly reduced the company's total holdings from 842,138 coins to 840,447 coins, still representing roughly 4% of all Bitcoin in circulation.
The company stated that the generated cash was directed toward repurchasing 1,152,020 shares of its STRC preferred stock, valued at $109 million, as part of an ongoing buyback program. This repurchase initiative follows a period in June when STRC fell far below its $100 stated amount, signaling market stress around the instrument that Strategy has used as part of its broader capital-raising apparatus.
Michael Saylor, the company's Executive Chairman, summarized the financial maneuvers in a post on X (formerly Twitter) on August 10, 2026:
Strategy has reassured investors that growing its cash buffer remains an integral part of its broader financial plan. As of Monday, the company reported holding $4.65 billion in cash. The firm, which originally operated as an enterprise software company before pivoting to a Bitcoin treasury strategy in 2020, has not made any new Bitcoin purchases since June.
The recent asset sales occur against the backdrop of a broader downturn in the cryptocurrency market. With the price of Bitcoin currently trading nearly 50% below its October record, market dynamics have shifted. Strategy's stock (Nasdaq: MSTR)—which investors frequently buy for amplified exposure to the digital asset—was trading nearly 3% lower on Monday. Over the past year, MSTR has faced significant declines, dropping roughly 80% from the all-time high it reached during the previous market upswing, underscoring the heightened volatility that comes with the company's leveraged Bitcoin exposure.
Despite the recent divestments, Strategy maintains that its overarching long-term posture toward Bitcoin has not changed. CEO Phong Le publicly stated that he is not worried about the ongoing bear market, emphasizing that the company plans to remain a long-term buyer of Bitcoin despite its recent sales.
Since initiating its Bitcoin treasury strategy in August 2020 to boost shareholder returns during the pandemic, Strategy has spent more than $63.5 billion accumulating the cryptocurrency. The company remains the largest corporate holder of Bitcoin in the world by a significant margin. Furthermore, Strategy's pioneering corporate treasury approach has spawned a wave of imitators, inspiring numerous copycat companies to adopt similar crypto-focused strategies of their own, though few have matched the scale or conviction of Strategy's position.
