Strategy, the Bitcoin-focused company led by CEO Michael Saylor, has recently sold 1,638 Bitcoin for about $104.7 million.
The transactions took place between July 27 and August 2, 2026, at an average price of roughly $63,957 per coin, according to an SEC filing.
The recent sale saw the company’s BTC holdings reduced to 842,138 Bitcoin. Proceeds were directed toward preferred stock obligations. Approximately $52.4 million funded dividend payments, while another $52.3 million supported repurchases of STRC preferred shares.
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Strategy also raised additional capital by selling common shares and increased its U.S. dollar reserve to $4 billion, extending its liquidity runway.
The Bitcoin was sold below the company’s average acquisition cost of $75,419 per coin. Strategy has accumulated its treasury over years at a total cost of about $63.5 billion including fees.
The latest sale forms part of a broader pattern in 2026 in which the company has sold a modest portion of its holdings totaling several thousand Bitcoin across multiple transactions to meet dollar-denominated obligations rather than continue uninterrupted accumulation.
Strategy sale of part of its Bitcoin holdings has come under heavy criticism.
Critics note the company has repeatedly used capital raised through equity and preferred-stock offerings to increase its Bitcoin holdings, making its decision to liquidate BTC a significant shift in how some investors view its treasury strategy.
The sales are primarily connected to Strategy’s need to maintain liquidity and meet obligations associated with its preferred stock and other financial commitments.
In June this year, the company established a Bitcoin Monetization Program that allows it to sell up to $1.25 billion worth of Bitcoin to strengthen its U.S. dollar reserve. Strategy said the reserve is designed to support dividends on its preferred stock and interest payments on outstanding debt.
This means the sales do not necessarily represent a change in Strategy’s long-term belief in Bitcoin. Rather, the company is treating part of its Bitcoin holdings as a source of liquidity when other financing options become less attractive.
CEO Michael Saylor last week, addressed the distinction between personal and corporate actions shortly after the disclosure. “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,” he posted. He noted that the company has long disclosed it may buy or sell Bitcoin as part of capital management while maintaining its overall conviction in the asset.
The move marks a practical shift for a firm long known primarily as a relentless Bitcoin buyer. Preferred stock distributions and the need to support STRC trading levels have created ongoing cash requirements.
By converting a small fraction of its Bitcoin into dollars and using equity issuance, Strategy has prioritized balance-sheet flexibility and preferred-share support while still holding more than 4 percent of Bitcoin’s total supply the largest corporate treasury of its kind.
Holdings remain substantial even after the sales, and the company continues to frame Bitcoin as its core long-term reserve asset.
Investors and observers are watching whether the pause in net purchases continues or whether stronger preferred-stock performance and higher Bitcoin prices will allow Strategy to resume adding to its stack.
For now, the latest transactions illustrate the realities of running a public company with structured liabilities alongside a large digital-asset treasury.