Strategy sold millions worth of Bitcoin last week

Strategy Sells Bitcoin to Fund STRC Buyback

@Strategy has sold 1,690 $BTC for approximately $108 million, directing the proceeds toward the repurchase of 1.15 million STRC preferred shares. The transaction, disclosed through regulatory filings, reflects the firm's ongoing effort to manage fiscal obligations tied to its convertible note strategy and broader capital structure.

The move is part of a wider pattern of Bitcoin disposals that has accelerated through 2026. Strategy's 2026 disposals have reached 5,258 BTC, the largest amount it has sold in any year since adopting Bitcoin as a treasury asset in 2020. Earlier transactions included a small sale in May and a larger disposal in early July. Strategy sold just 32 BTC in May 2026, then 3,588 BTC in early July for approximately $216 million.

The STRC preferred stock sits at the center of Strategy's capital management challenge. STRC, the company's Variable Rate Series A Perpetual Preferred Stock, carries a 12% annual dividend rate and a stated value of $100 per share, but has been trading below par. The company is targeting a return to par for STRC by September, with the pace of further purchases dependent on the stock's price and market liquidity.

A Broader Shift in Capital Strategy

The Bitcoin sales are only part of how Strategy is funding these obligations. The firm has also been tapping equity markets. Strategy issued 3.01 million MSTR common shares to raise $290.6 million, with proceeds funding preferred dividends, adding $250 million to its USD reserve, and helping repurchase STRC shares.

Strategy's completed $4 billion reserve now covers approximately 27 months of preferred dividends and debt interest. Strategy CEO Phong Le described the discounted repurchases as "an attractive use of capital that reduces our future preferred dividend requirements at a discount."

None of the nearly $395 million raised in the most recent week went toward new Bitcoin purchases. Instead, Strategy used the capital to fund preferred dividends, repurchase STRC shares, and complete the expansion of its US dollar reserve to $4 billion. New Bitcoin accumulation remains on pause as the firm prioritizes stabilizing its preferred securities stack.

Sources:
CoinDesk: Strategy Sells Bitcoin, Repurchases STRC Shares
CryptoSlate: Strategy Sells $395 Million in Bitcoin and MSTR Stock
Yahoo Finance: Strategy Taps Bitcoin Reserves to Service Preferred Stock