Strategy Sells 3,588 Bitcoin for $216 Million

Strategy has built its corporate identity around issuing securities to accumulate bitcoin, turning MSTR into a widely traded proxy for the cryptocurrency. That model is under pressure as bitcoin weakness has left the company with roughly $10 billion in unrealized losses. Its heavy reliance on digital-asset holdings has also raised the risk that index provider MSCI could remove Strategy from its benchmarks, potentially prompting index-linked funds to sell the stock.

The company paused bitcoin purchases, leaving its holdings unchanged at 840,447 tokens, while selling MSTR common shares to bolster liquidity. Earlier disclosures showed more than $330 million raised for dividends, share repurchases and reserves, with cash reaching $4.8 billion. More recent reports cited about $2 billion of common-stock sales and the creation of a separate $1.6 billion “USD Cash” pool, marking a shift from aggressive bitcoin accumulation toward balance-sheet protection.

Strategy, best known for financing a vast Bitcoin stockpile through equity and preferred-share issuance, has begun using some of its cryptocurrency holdings to support shareholder payouts and liquidity. The move is significant because Bitcoin remains the company’s core treasury asset, while dividends on its preferred securities and share repurchases create recurring dollar obligations that must be balanced against its long-term accumulation strategy.

In the week ended Aug. 2, Strategy sold 1,638 Bitcoin for about $104.7 million, its first disposal since June, reducing holdings to 842,138 tokens. Roughly half of the proceeds was allocated to preferred-stock dividends and the remainder to repurchases of STRC shares. The transaction extended the company’s estimated dollar liquidity runway to 2.3 years, giving it more capacity to meet cash commitments without relying solely on fresh stock issuance.

As the publicly listed company with the world’s largest Bitcoin holdings, Strategy’s moves are closely watched across the crypto market. The company has primarily used debt and new share issuance to aggressively accumulate Bitcoin. Its holdings strategy and financing methods have long served as an important gauge of institutional attitudes toward crypto assets, and any shift in how it uses funds could prompt investors to reassess its financial resilience and market outlook.

Strategy sold about $467 million of MSTR shares through an at-the-market program during the week, boosting its cash reserves to $3 billion. The funds will primarily cover preferred-stock dividends and interest. Unlike the previous week, when it sold Bitcoin to raise capital, the latest move allowed the company to keep its Bitcoin position unchanged at 843,775 BTC, demonstrating its ability to raise U.S. dollar liquidity without reducing its core crypto holdings.

Strategy has long treated Bitcoin as a core asset and has raised funds to buy the cryptocurrency through stock issuances and sales, making it one of the world's most prominent corporate Bitcoin holders. Its holdings exceed 4% of Bitcoin's total supply, leaving its balance sheet and share price highly exposed to swings in the cryptocurrency's value.

Strategy spent $34.9 million from June 15 to June 21 to buy 520 Bitcoin at an average price of $67,068 each. The company now holds more than 847,000 Bitcoin. It has continued selling shares to raise funds for further purchases even as the position's unrealized loss has reached $9.3 billion.

Strategy, formerly MicroStrategy, began adding Bitcoin to its balance sheet in 2020 and continued buying through debt and equity issuance, becoming the world’s largest publicly traded corporate holder of the cryptocurrency. Executive Chairman Michael Saylor has long promoted a “never sell” message. Although the disposal was small, it raises questions about whether Bitcoin reserves can also serve as a liquidity backstop for the company’s preferred-share “digital credit” business.

Strategy sold 32 BTC from May 26 through May 31, 2026, at an average price of $77,135 each, raising about $2.5 million. It disclosed the sale to the SEC on June 1 and said the proceeds were intended to fund preferred-share dividends. As of May 31, the company still held 843,706 BTC acquired for a total of $63.87 billion. Saylor described the sale as a tactical move and said Strategy would remain a net buyer.

Strategy, formerly MicroStrategy (Nasdaq: MSTR), has treated Bitcoin as a core asset since 2020 and has continued accumulating it by raising funds through stock issuance. It is the world’s largest publicly traded corporate holder of Bitcoin, and its transactions are widely viewed as key indicators of corporate adoption and market liquidity.

Strategy disclosed on June 8, 2026, that it spent $101 million to buy 1,550 Bitcoin between June 1 and June 7 at an average price of about $65,332 each, increasing its holdings to 845,256 Bitcoin. It had previously sold 32 Bitcoin between May 26 and May 31 to pay preferred-stock dividends but resumed accumulating immediately afterward.

Strategy, formerly known as MicroStrategy, has long treated Bitcoin as a core asset, raising funds through stock issuance to finance continued purchases. The company has become a key gauge of corporate crypto adoption. Its vast holdings affect its financial performance and have also drawn market scrutiny of the risks arising from equity financing and Bitcoin price volatility.

Strategy spent about $43 million in early May to buy another 535 Bitcoin, increasing its total holdings to 818,869 and formally taking the figure above 810,000. At current market prices, the holdings carry an estimated unrealized gain of about $4.6 billion. The company plans to continue its long-term strategy of issuing stock and buying more Bitcoin.

Strategy, formerly known as MicroStrategy, has continued raising funds through equity and debt instruments to buy Bitcoin under Michael Saylor, making BTC a core asset. The company recently raised capital through STRC perpetual preferred stock carrying an 11.5% dividend rate. Saylor said an annual Bitcoin gain of more than 2% would be enough to cover the dividend, underscoring the company's highly leveraged capital strategy.

Strategy added 3,468 Bitcoin on April 10, according to the latest report, which did not disclose the dollar value or average purchase price of the transaction. The purchase brought the company's total Bitcoin holdings close to 770,000 BTC. As proceeds raised through STRC continue to be converted into Bitcoin, the company's holdings are moving toward a new milestone.

Strategy, formerly MicroStrategy (Nasdaq: MSTR), has continued to expand its Bitcoin holdings through equity issuance and debt since adding the cryptocurrency to its corporate treasury in 2020. At-the-market, or ATM, programs allow shares to be sold in tranches as market conditions permit. The new capacity could support further purchases but also brings common-stock dilution and preferred-share dividend obligations.

On March 23, 2026, Strategy filed for separate ATM programs covering $21 billion of MSTR common stock and $21 billion of STRC preferred stock, for a combined $42 billion. Including its STRK capacity, the total reaches $44.1 billion. The company also disclosed that it spent $76.6 million to buy 1,031 Bitcoin from March 16 to 22, increasing its holdings to 762,099 Bitcoin.

Strategy, formerly known as MicroStrategy, has treated Bitcoin as a core treasury asset since 2020 and has long financed purchases through sales of common and preferred stock. The strategy has made it the world’s largest corporate holder of Bitcoin, but its high-interest financing costs and exposure to cryptocurrency price swings remain under market scrutiny.

Strategy raised funds by selling Class A common stock and preferred stock from March 2 to March 8, 2026, then spent about $1.28 billion to buy 17,994 Bitcoin at an average price of $70,946 each. The transaction increased its total holdings to 738,731 Bitcoin, continuing its long-term Bitcoin treasury strategy.