Strategy sold 1,638 BTC for $104.7 million during the week ending August 2, according to an 8-K filing submitted Monday, reducing its Bitcoin holdings to 842,138 BTC from the 843,775 it had held since early July. The coins were sold at an average price of $63,957, net of fees. The sale further trimmed a treasury that makes Strategy the largest publicly listed corporate holder of Bitcoin — holdings equal to roughly 4% of the asset's 21 million maximum supply.

The disposals leave Strategy with an aggregate cost basis of $63.51 billion, or $75,419 per Bitcoin — $11,462 above the average price achieved in this week's sales.

The company allocated $52.4 million of the proceeds to fund dividends on its preferred stock, while $52.3 million went toward repurchasing STRC shares — the ticker for Strategy's perpetual preferred stock. The total STRC buyback came to $81.2 million, covering 912,143 shares, with the remaining $28.9 million funded through common stock sales. This marks Strategy's second repurchase under a $1 billion program announced June 29 and first deployed last week with a $25 million purchase, leaving $893.8 million of authorization outstanding.

Strategy stated that the week's actions extended what it calls its USD duration by 57 days to 2.3 years and tightened STRC's Bitcoin credit spread by five basis points. The STRC dividend rate will remain at 12% annually, with semi-monthly payments of $0.50 per share. In July, Strategy overhauled its investor metrics, making "net Bitcoin per share" — the Bitcoin remaining for common shareholders after debt and preferred claims are stripped out — the centerpiece of its reporting.

Strategy confirmed the moves in a post on X:

Strategy increased its USD Reserve by $250M and repurchased $81M of $STRC. This increased USD Duration by 57 days to 2.3 years and tightened STRC's BTC Credit by 5 bps. As of 8/2/26, we hold ₿842,138 in our BTC Reserve and $4.0B in our USD Reserve. $MSTR

— Strategy (@Strategy) August 3, 2026

Capital Framework and Bitcoin Sales History

Strategy broke with its long-held "never sell" stance at the end of May, disposing of 32 BTC for $2.5 million at an average of $77,135 to fund preferred distributions. That was the firm's first Bitcoin sale since December 2022, when it sold 704 BTC as a tax-loss harvesting measure and repurchased 810 BTC two days later.

A capital framework unveiled in June established conditions under which the company would sell Bitcoin and allows for up to $1.25 billion in disposals. Strategy sold $216 million worth of BTC in July; combined with this week's $104.7 million, the company has used $321 million of that capacity — roughly a quarter of the ceiling — excluding the 32 BTC sale that preceded the framework's establishment.

The firm has not added to its Bitcoin holdings since June, instead building its USD reserve against $1.76 billion in annual dividend obligations, largely through the sale of MSTR shares. Last week it sold 3,011,361 shares for $290.6 million net, of which $250 million was directed into the reserve, bringing it to $4 billion.

The Bitcoin treasury firm's holdings now sit 5,225 BTC below the 847,363 peak reached in June — a reduction of 0.6%.

Bitcoin traded at approximately $62,600 on Monday, down 1% on the day, according to CoinGecko data. On Myriad, a prediction market owned by Decrypt's parent company Dastan, users placed just a 6% probability on Strategy holding over 1 million BTC by 2027, down from 12% a week earlier.