Michael Saylor’s Strategy sold 1,690 Bitcoin between August 3 and August 9, 2026, using the proceeds to fund a buyback of its STRC preferred shares, marking a rare instance of the largest cor
Michael Saylor’s Strategy sold 1,690 Bitcoin between August 3 and August 9, 2026, using the proceeds to fund a buyback of its STRC preferred shares, marking a rare instance of the largest corporate Bitcoin holder trimming its stash to manage its capital structure.
The sale was disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission on August 10, 2026. Strategy said the 1,690 BTC generated $108.6 million in net proceeds at an average sale price of $64,262 per bitcoin, after fees and expenses. For related coverage, see Figma Holds $91M in Bitcoin ETF Exposure, Not 938 BTC.
BTC sold 1,690 BTC The August 10, 2026 SEC filing says the sale funded the STRC buyback program.The move stands out because Strategy has spent years accumulating Bitcoin and rarely reduces its position. The company’s stance has been that its treasury is a long-term holding, and even its own executives have argued that selling thousands of coins would not move the market price. For related coverage, see ARK Invest Buys $18.4 Million in Coinbase Shares Across Three ETFs.
Strategy said the net proceeds from the Bitcoin sale were used to fund repurchases of STRC stock under its Digital Credit Securities Repurchase Program. The company repurchased 1,152,020 STRC shares for the same $108.6 million during the August 3-9 window. For related coverage, see Bitfarms' Bitcoin Cost Basis Nearly Doubles as It Pivots to AI.
STRC repurchased 1,152,020 shares Strategy matched the bitcoin sale proceeds with $108.6 million of STRC buybacks in the same reporting window.The mechanism is not improvised. Strategy’s June 29, 2026 Digital Credit Capital Framework, approved by its board, explicitly authorized monetizing Bitcoin to fund repurchases of Digital Credit Securities or class A common stock.
Chief Executive Phong Le framed the approach as a two-way capital lever when the framework was introduced. “We intend to move between issuing securities when capital is attractive and repurchasing securities when our instruments trade at levels that make buybacks accretive,” Le said.
Buying back STRC reduces the outstanding share count, which can support the value of the remaining shares and signal that management views the security as undervalued relative to its issuance terms. The July 27, 2026 initiation of the program set out an ongoing buyback policy for the preferred instrument.
The sale barely dents Strategy’s overall position. After the transaction, the company held 840,447 BTC acquired for $63.36 billion at an average purchase price of $75,385, according to the filing.
The disposal was also not the company’s only capital activity in the period. Strategy sold 6,585,682 MSTR shares for $653.1 million in net proceeds, directing $650.0 million to its USD Reserve and $3.1 million to cash, leaving the reserve at $4.65 billion as of August 9.
That parallel equity raise underscores the point: the Bitcoin sale was a targeted funding step for the buyback, not a retreat from the treasury thesis. The company continues to tap public markets for capital while recycling a small slice of coins into share repurchases.
For Bitcoin-focused shareholders, the takeaway is nuanced. The 1,690-coin disposal represents about 0.2% of Strategy’s holdings, so the direct supply impact on Bitcoin is negligible against a market where the asset trades near $64,088, down about 1.4% on the day.
Sentiment offers context for the cautious read. The crypto Fear & Greed Index sits at 29, in “Fear” territory, a backdrop in which a headline about the biggest corporate holder selling any Bitcoin can carry outsized narrative weight.
The bullish interpretation is that Strategy is enforcing capital discipline, buying back a security when it deems the price accretive rather than issuing into weakness. The more cautious view is that any Bitcoin monetization, however small, tests the durability of a pure buy-and-hold treasury story.
The pattern is not unique to Strategy. Miners and corporate holders have increasingly treated Bitcoin as a liquid balance-sheet tool, as seen when Marathon Digital sold 23,093 Bitcoin in the first half of 2026 to fund operations. Against that comparison, Strategy’s sale is modest and tightly scoped to a defined buyback authorization.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
The article Strategy Sells 1,690 Bitcoin to Buy Back STRC Shares first featured on theccpress.com.
