Strategy sells $109M in bitcoin as dollar reserve tops $4.6B

Strategy (formerly MicroStrategy) sold 1,690 BTC for roughly $109 million and routed all of the proceeds into buying back its own STRC preferred shares, CoinDesk reports, citing the company's weekly disclosure. This is the fourth consecutive weekly bitcoin sale in 2026 — a shift that stands in sharp contrast to the company's years-long public stance of never selling.

After the sale, Strategy's bitcoin treasury dropped to 840,447 BTC — accounting for all of this year's sales, the company has parted with roughly 6,948 BTC, or about 0.8% of its holdings. The coins sold went for well below the company's average acquisition cost of $75,385 per BTC, meaning the sale was executed at a loss relative to the position's historical cost basis. In parallel, Strategy sold 6.59 million of its own shares through its ATM program, raising $653.1 million — almost six times the amount pulled in from the bitcoin sale.

“When I say 'Never Sell Your Bitcoin,' I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet. Since 2020, it has disclosed it may buy or sell BTC to manage capital. Our shared conviction in Bitcoin remains unchanged.”

— Michael Saylor, Executive Chairman, Strategy

The company's dollar reserve — a metric Strategy discloses separately each week, meant to cover preferred-stock dividends and debt interest — climbed to $4.65 billion. As recently as mid-July, that reserve stood at just $3 billion, so the month-over-month growth has been notably fast. STRC itself is a preferred share carrying a 12% annualized dividend, currently trading around $94 with a stated goal of returning to its $100 par value; last week Strategy repurchased 1,152,020 of those shares.

• 1,690 BTC sold for $109M — all proceeds went toward the STRC buyback
• $653.1M raised via an ATM stock offering — 6x the bitcoin sale amount
• Dollar reserve climbed to $4.65B; holdings now stand at 840,447 BTC

This isn't the first sale of its kind this year: we previously reported how the company sold $216 million in bitcoin, a record at the time, and later, after posting an $8.3 billion quarterly loss, paid its dividends with real cash pulled from bitcoin it actually sold — this latest sale continues the same capital-management pattern.

None of this should be read as personalized investment advice.