Why Did Strategy Sell More Bitcoin? Latest BTC Sale Explained

Strategy Bitcoin reserve numbers show a company actively managing its balance sheet rather than simply stacking coins. Between August 3 and 9, Strategy sold 1,690 bitcoin for about 108.6 million dollars, its third sale of 2026, leaving 840,447 BTC in its treasury. 

The proceeds, alongside new share sales, pushed its US dollar cash reserve to 4.65 billion dollars. CEO Phong Le has since said the company still plans to resume bitcoin buying before the year ends, framing the sales as tactical rather than a change in strategy.

Key Takeaways

• Strategy sold 1,690 BTC for about 108.6 million dollars between August 3 and 9, its third sale of 2026, at an average price roughly 15 percent below its overall cost basis.

• The company's US dollar cash reserve rose to 4.65 billion dollars, funded partly through the sale and partly through 653.1 million dollars raised from new MSTR share sales.

• CEO Phong Le said Strategy still plans to resume bitcoin buying before the end of 2026, pointing to a roughly 25 to 1 buy to sell ratio so far this year.

The Latest Bitcoin Sale, By the Numbers

Strategy sold 1,690 bitcoin between August 3 and 9, 2026, raising about 108.6 million dollars at an average price of 64,262 dollars per coin. That price sat roughly 15 percent below the company's overall average purchase price of 75,385 dollars, meaning the coins sold were, on paper, sold at a loss relative to Strategy's blended cost basis. 

This was the company's third bitcoin sale of 2026, following earlier sales in July and August that trimmed holdings from a peak near 847,363 BTC in late June down to the current 840,447 BTC. 

Strategy's own transaction ledger shows the sales were relatively modest compared with its buying activity earlier in the year, when the company added tens of thousands of bitcoin in single weeks during the first half of 2026.

Even after the latest sale, Strategy's treasury remains by far the largest of any public company, equal to roughly 4 percent of bitcoin's fixed 21 million supply.

Why Strategy Is Selling: Cash Reserves and STRC

The proceeds from the bitcoin sale were not simply banked. Strategy used part of the money to repurchase 1,152,020 shares of its STRC preferred stock, which had been trading below the company's target range. STRC rose from under 75 dollars in late June to above 95 dollars over the following weeks, and the repurchases came in at an average price of 94.29 dollars. 

Alongside the bitcoin sale, Strategy also sold 6,585,682 MSTR shares through its at the market equity program, raising 653.1 million dollars, with 650 million dollars of that directed into the company's US dollar reserve. 

That reserve reached 4.65 billion dollars as of August 9, up from around 4 billion dollars just weeks earlier, and management has said it now covers close to two and a half to three years of preferred dividend obligations. 

These moves fall under Strategy's Digital Credit Capital Framework, which permits up to 5 billion dollars in bitcoin sales to fund dollar reserves, preferred dividends, interest payments and share repurchases.

Read Also: Strategy Boosts Cash Reserve to $3.75 Billion While Holding 843K BTC

Strategy's Bitcoin Position and Paper Losses

Strategy’s Bitcoin Position, Source: Strategy.com

Strategy's 840,447 BTC were acquired for a total of roughly 63.36 billion dollars, at an average price of 75,385 dollars per coin. With bitcoin trading closer to 64,000 dollars at the time these figures were published, the position's market value sits well below that cost basis. 

Coinpaprika calculated the resulting paper loss at approximately 8.7 billion dollars, a reminder that even the largest corporate bitcoin holder is not immune to drawdowns when the price sits well off its highs. 

MSTR share chart, Source: TradingView

According to Bitrue Research Institute, MSTR shares have also moved a long way from their own peak, trading roughly 82 percent below it, even after gaining 3.3 percent over the prior week. 

The stock's enterprise value relative to its bitcoin and cash holdings, a metric known as mNAV, sits close to 1.04 to 1.07 times, suggesting the market is pricing MSTR roughly in line with the value of its underlying treasury rather than at a large premium or discount.

Will Strategy Resume Bitcoin Accumulation?

CEO Phong Le addressed the recent sales directly, telling Fox Business that Strategy still plans to resume bitcoin buying before the end of 2026. Le pointed to the broader picture rather than any single transaction, noting that Strategy has bought roughly 175,000 bitcoin so far this year against about 7,000 sold, a buy to sell ratio of around 25 to 1.

Executive Chairman Michael Saylor also drew a distinction between his own bitcoin holdings, which he said remain unchanged, and Strategy's obligations as a public company managing preferred stock and cash needs. 

Whether the pause in accumulation proves temporary will likely become clearer through the company's future filings.

For traders who want to follow Strategy's bitcoin reserve and MSTR data alongside broader crypto markets, it may be worth choosing to sign up to bitrue and track this kind of information from a single account.

Conclusion

Strategy's latest bitcoin sale is a reminder that the company's treasury strategy has grown more complicated than simple accumulation. Selling 1,690 BTC for 108.6 million dollars helped fund a 4.65 billion dollar cash reserve and support its STRC preferred stock, even as the company held onto 840,447 BTC, still by far the largest corporate bitcoin treasury. 

CEO Phong Le's comments suggest this is a pause rather than a reversal, with buying expected to resume before year end. None of this guarantees what Strategy does next, but the data offers a clear picture of where things stand today. 

For traders who want to follow this kind of data closely, Bitrue offers an easier and comparatively safer way to track Bitcoin and Strategy's tokenized stock from one account.

FAQ

How much bitcoin did Strategy sell recently?

Strategy sold 1,690 BTC between August 3 and 9, 2026, for about 108.6 million dollars, at an average price of 64,262 dollars per coin.

How much bitcoin does Strategy still hold?

Strategy holds 840,447 BTC after the sale, equal to roughly 4 percent of bitcoin's total 21 million supply and still the largest corporate bitcoin treasury by a wide margin.

Why is Strategy selling bitcoin instead of only buying?

Proceeds have gone toward building a 4.65 billion dollar cash reserve and repurchasing STRC preferred stock, part of a capital framework that allows limited bitcoin sales to support these obligations.

Will Strategy buy more bitcoin in 2026?

CEO Phong Le has said the company plans to resume bitcoin purchases before the end of 2026, citing a roughly 25 to 1 buy to sell ratio for the year so far.

Can I trade Bitcoin or Strategy's stock on Bitrue?

Bitrue supports direct Bitcoin trading along with tokenized exposure to MSTR, allowing traders to follow both the coin and the company from a single account.

Disclaimer: 

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile and carry significant risk, including the potential loss of principal. Always conduct your own research before making investment decisions. Certain products and services referenced may not be available to residents of restricted jurisdictions, including but not limited to the United States, Canada, the United Kingdom, the European Economic Area, and China.