Strategy (formerly MicroStrategy) sold 1,638 BTC for $104.7 million between July 27 and August 2, completing its third disclosed Bitcoin sale of 2026 and reducing its total holdings to 842,138 BTC.

The sale was executed at an average price of $63,957 per coin. Strategy's remaining Bitcoin was acquired for $63.51 billion at an average price of $75,419 per coin, leaving the company in control of more than 4% of Bitcoin's maximum supply, the largest publicly listed corporate holding of the cryptocurrency.

Bitcoin Proceeds Directed to Dividends and STRC Buybacks

Strategy allocated $52.4 million from the latest Bitcoin sale to preferred-stock dividends and an additional $52.3 million to repurchases of STRC, its Variable Rate Series A Perpetual Stretch Preferred Stock.

The company repurchased 912,143 STRC shares for a total of $81.2 million. Bitcoin proceeds covered the majority of the transaction, with $28.9 million sourced from newly issued MSTR common shares. Strategy did not repurchase any MSTR common stock during the period, leaving a separate $1 billion common-share buyback authorization unused.

During the same week, Strategy sold 3.01 million MSTR shares, generating $290.6 million in net proceeds. Of that amount, $250 million was directed to the USD reserve, raising its balance to $4 billion, while $11.7 million was added to general cash. The reserve increase was therefore funded by MSTR share issuance rather than the Bitcoin sale, as BTC proceeds were assigned entirely to preferred dividends and STRC repurchases.

Strategy Has Sold 5,258 BTC Across Three Rounds in 2026

The latest transaction followed Strategy's initial 32 BTC sale for approximately $2.5 million between May 26 and May 31. That disposal, completed at an average price of $77,135 per coin, marked the company's first Bitcoin sale since its 2022 tax-loss transaction and was intended to fund preferred distributions.

Strategy subsequently sold 3,588 BTC for $216 million between June 29 and July 5, as previously reported. Those proceeds funded preferred-stock distributions and replenished cash previously drawn from the USD reserve.

The three transactions bring Strategy's cumulative 2026 sales to 5,258 BTC for approximately $323.2 million. The company's treasury has declined from 847,363 BTC in late June to 842,138 BTC, though Strategy remains a net Bitcoin buyer for the year after acquiring substantially more BTC during the first half.

The sales form part of Strategy's broader capital framework, which permits BTC monetization for reserves, dividends, interest, and securities repurchases. This policy has replaced the one-way accumulation pattern Strategy maintained since its first Bitcoin treasury purchase in August 2020 with the two-way Bitcoin flow identified by JPMorgan.

Saylor Distinguishes Personal Holdings From Corporate Policy

Michael Saylor responded to criticism by drawing a clear distinction between his personal Bitcoin holdings and Strategy's obligations as a publicly traded company.

"When I say 'Never Sell Your Bitcoin,' I speak as one saver to another," Saylor wrote in an August 3 statement, adding that he had never sold any of his personal Bitcoin. He noted that Strategy has disclosed since 2020 that it may buy or sell BTC as part of its capital management strategy, as outlined in its SEC 8-K filing.

Strategy maintained STRC's annual dividend rate at 12%, with payments of $0.50 per share scheduled for August 31 and September 15. Following the latest transaction, the company retained $893.8 million in preferred-stock repurchase capacity alongside the unused $1 billion common-share buyback authorization.