@Strategy has sold 1,637 $BTC, reducing its corporate Bitcoin treasury to 842,138 $BTC. The move is the latest in a series of measured disposals that mark a clear shift away from the firm's y
@Strategy has sold 1,637 $BTC, reducing its corporate Bitcoin treasury to 842,138 $BTC. The move is the latest in a series of measured disposals that mark a clear shift away from the firm's years-long accumulation-only approach.
For most of its history as a Bitcoin holder, Strategy maintained a strict buy-and-hold posture. That began to change in mid-2026. In late June 2026, Strategy announced its "Digital Credit Capital Framework," a new policy that formally authorizes the sale of up to $1.25 billion in Bitcoin. The framework was designed to give the company flexibility to fund preferred dividends, shore up its USD reserve, and repurchase its own securities without resorting to additional equity issuance.
The latest 1,637 $BTC disposal follows that logic. Alongside the sale, Strategy increased its USD reserve by $250 million and repurchased $81 million of $STRC, its variable-rate perpetual preferred stock. The $STRC buyback continues a campaign that started in late July. In a July 27 SEC update, Strategy said it purchased 288,930 STRC shares for $25 million between July 20 and July 26, marking the first disclosed use of a $1 billion preferred-stock repurchase program approved last month.The repurchase follows a prolonged period of weakness in the variable-rate perpetual preferred stock, which Strategy intends to keep trading close to its $100 stated amount. STRC fell below $77 over the past month before recovering to around $88.
Despite the recent activity, the scale of Strategy's Bitcoin position remains vast. The 1,637 $BTC sold represents less than 0.2% of the company's total stack. Through the first seven months of 2026, Strategy bought 174,895 BTC and sold 3,620 BTC, meaning purchases exceeded disposals by more than 48 times.
The company's holdings have grown to roughly $52 billion, representing about 4% of the total Bitcoin supply, according to the firm's own data. Analysts have pushed back on concerns about forced selling. Analysts at Bernstein have argued that Strategy's balance sheet makes forced selling unlikely. However, the formalization of Strategy's Bitcoin sale policy introduces "avoidable two-way risk" into crypto markets, as the company could now become both a buyer and seller of Bitcoin, analysts at JPMorgan said.
The firm's evolving capital structure, anchored by its $STRC preferred stock and a growing USD reserve, suggests that selective Bitcoin sales are now a permanent tool in its treasury management kit rather than a one-off event.
SourcesStrategy adopts new buying and selling approach for Bitcoin - Crypto BriefingStrategy dramatically ups pace of Bitcoin sales, raising $216 million - CoinDeskStrategy hits a five-week pause on Bitcoin, using $25M to buy back discounted stock - CryptoSlate
