Strategy sold 1,638 Bitcoin(BTC) for $104.7 million last week, cutting its holdings to 842,138 coins as the company funded preferred stock dividends and repurchases of its own shares. Key Poi
Strategy sold 1,638 Bitcoin(BTC) for $104.7 million last week, cutting its holdings to 842,138 coins as the company funded preferred stock dividends and repurchases of its own shares.
- Strategy sold the coins between Jul. 27 and Aug. 2 at an average of $63,957 each, net of fees.
- Proceeds were split almost evenly between preferred stock distributions and STRC buybacks.
- The remaining stack sits about $10.9 billion below its purchase cost.
The company moved the coins between Jul. 27 and Aug. 2 at an average of $63,957 each, net of fees, according to an 8-K filed with securities regulators on Monday. About $52.4 million of the money covered distributions on preferred stock, and another $52.3 million went toward repurchases of STRC, the variable rate preferred share that carries a 12% annual payout. The split leaves almost nothing for the treasury itself.
Strategy also raised $290.6 million through the sale of 3,011,361 MSTR shares, sending $250 million of that sum into a dollar reserve, held against dividends and interest, that now totals $4 billion.
The buyback ledger was busy as well. Strategy repurchased 912,143 STRC shares for $81.2 million during the week, left its common stock authorization untouched, and told investors over the weekend that the STRC rate would stay put rather than climb again.
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TD Cowen and Benchmark each kept Buy ratings on the stock after last week's earnings report, though neither firm sounded especially comfortable.
Both said pushing STRC back toward its $100 par value has become the chief near-term task for management, a marked shift from the growth pitch that defined earlier years. Benchmark trimmed its price target to $435 from $570 after cutting its year-end Bitcoin forecast, while TD Cowen stayed at $260.
The arithmetic behind the sale is unflattering. Strategy's remaining coins carry an average cost of $75,419, roughly $11,000 above the price the company accepted last week, which leaves the treasury about $10.9 billion underwater at prices seen on Monday.
Michael Saylor's firm has not reported a Bitcoin purchase since June, when it began treating the treasury as a funding source instead of a one-way vault that only ever took coins in.
It sold 1,363 coins for $80.8 million at the end of that month, then parted with 3,588 more for about $216 million in the days that followed. A four-week pause came next, and Monday's filing ended it.
The company reported an $8.2 billion second-quarter loss on Thursday, almost all of it unrealized markdowns on coins it already owns. Bitcoin traded near $63,700 on Monday, about 49% below the record it set in October 2025, while MSTR closed Friday at $93.28, roughly 80% under the peak it reached in 2025.
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